Multiple home offers are back in Hutchinson, MN and McLeod County
It’s been quite a few years since multiple offers have been a factor in the housing market, but I am pleased to report that they are back!
Many of the homes that have been sold in the last few months have had multiple offers on them. Some of the reason for this is that there is such a shortage of homes for sale and plenty of people who want to buy.
There are many factors that a seller will consider when looking at multiple offers such as:
Does the closing date fit into the seller’s plans?
Is there an inspection contingency?
What personal property are the buyers asking for?
What type of financing are the buyers getting?
Are the buyers’ asking for the sellers to pay closing costs?
Most of the time, when our clients get into a multiple offer situation, we know that going in. So, the buyers need to consider how badly they want the home. I always ask them “How will you feel if you don’t get this home and lose the home to another buyer?” It’s important that buyers make their best offer when they know that someone else is also making an offer on the same home.