Wichita Home

All About Wichita and Wichita Real Estate

Make Me An Offer…or Two

Make me an offer I can’t refuse. Problem is sometimes that’s all to easy.

Real estate fluctuates between sellers markets and buyer markets depending on the over all condition of the economy.

In a “sellers” market, buyers must be prepared for the possibility of multiple buyers competing for the same “dream home”.  While we are not currently in a sellers market in Wichita Kansas nice homes priced right still can attract lots of interest.

The fact is that well-valued homes sell quickly. Many buyers are ill-prepared for the reality of competing in a multiple-offer situation. Buyers must be aware that:

  • Sellers can easily refuse a full price offer.
  • In multiple offer situations, properties often sell for more than the list price or asking price.
  • Competing offers are usually offers with few contingencies

Buyers must know their financial qualifications in order to have the best opportunity when there are multiple offers. It’s always wise to look at properties that you can afford, are qualified for or even slightly less to give room for bidding wars.

I always find it sad when a client finally finds the right home after months of searching and then loses it it in a bidding contest. The motto is to be prepared and leave yourself room to fight.

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August 27, 2010 - Posted by | buy, Home, house, kansas, real estate, Uncategorized, Wichita | , , , , ,

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