Multiple offers

With the real estate market going through some highs and lows some sellers are approaching the pricing of their homes very aggressively. In those situations there is a strong likelyhood, in a not-so-down-market such as ours, that multiple offers can result. Make sure your agent explains the ramifications of multiple offers, what it means to the buyer/seller, and what is the best approach in such a situation. Also ask how an Acceleration Clause works and how it might benefit your situation. BUYERS…. take care not to get caught up in the auction atmosphere of multiple offers…know ahead of time what your highest and best offer will be. SELLERS…. be careful not to get too greedy as many buyers will back away when they find out they’re competing with others

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