Scott P. Rogers
Funkhouser Real Estate Group
540-578-0102  •  email
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Wednesday, May 8, 2024
Competition!
Many sellers of homes newly listed for sale are still receiving multiple offers from eager buyers within the first few days on the market... but that is not universally happening on all new listings.

As such... if you're the first one to the party... the first buyer to make an offer, you likely do not need to...

[1] included an escalation clause

[2] waive a home inspection

[3] offer to pay your offered price regardless of the appraised value

But... if you submit an offer without an escalation clause, with a home inspection contingency and with an appraisal contingency... and then receive notice that another offer has been received... you might pause to reconsider your offer terms.

If you are competing against another buyer, you may very well want to...

[1] included an escalation clause

and/or

[2] waive a home inspection

and/or

[3] offer to pay your offered price regardless of the appraised value

The competition that you do or do not have when making an offer should guide and direct your offer terms.