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Show Notes:

Episode 2: Multiple Offers in the Atlanta Real Estate Market

  • Getting an offer accepted when it’s a multiple offer situation.
  • 150-200k price range 75-80% receives multiple offers. (first time home buyer price)
  • 200-250k price range 40-50% receives multiple offers.
  • 300k and under with good schools are getting multiple offers.
  • 300-300k with marginal schools are not getting multiple offers.
  • 400-600k in sought after high school districts are possibly still getting multiple offers but not as many at that price range.

Seller Letters – Do they work or have an impact on the seller?

  • Make the letter personal.
  • Letters do not work in every situation.
  • Some sellers have a specific bottom line number they need to be at.
  • Be prepared that writing a letter to the seller might not make a difference in a multiple offer situation.
  • Your letter might not make a difference BUT you have to make it your best offer. Your best offer is not only your price, your financing, whether your submitted a letter or a photo of your family. Ask yourself “What is it that is going to be part of my offer that made it be accepted?”

Contract Hacks – How to have a banana split contract vs spinach salad contract every time

  • Escalation Clauses: states the terms are negotiable but your client as a buyer is offering a certain amount of dollars above what the highest offer comes in and then limits it at a certain point.
  • Making a clean offer
  • Negotiating due diligence to seven to nine days opposed to nine to twelve.
  • Financial and appraisal contingency – limit to less than twenty one days.

Financing

  • No financing – coming in with hard cash offer
  • Conventional – straight up normal, run of the mill
  • VA – 100% military and ex-military

 

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