With 2012 coming to a close I thought that as an Encinitas real estate agent I would use this opportunity to discuss some of the most frequently asked questions I came across regarding Encinitas real estate this year. While this is by no means a comprehensive list, hopefully some of these questions will help guide you on your path to purchasing a home for sale in Encinitas.
How are Multiple Offers Typically Handled?
Many clients looking to purchase a home this year found that low inventory was resulting in sellers fielding multiple offers. A lot of homebuyers were looking for some guidance on how to properly handle this issue.
In many cases, though certainly not all, when a seller receives multiple offers they will typically review them all at once and pick the one that is most beneficial to them, though in some instances they may provide buyers with the opportunity to counter offer.
The best way for you as a buyer to handle multiple offers is to put in the best and highest offer that you can initially and then to use the contingency period to cancel the agreement if necessary. A skilled Realtor can guide you through this process and make sure that you are protected while also being competitive in your offer.
What is a Contingent Offer?
A contingent offer is when an offer has been accepted on the home for sale, meaning that both the buyer and seller have come to an agreement on the price and an executed contract has been drawn up. Additionally the seller will typically stop showing the house.
It never hurts to make an offer on a home when there is already a contingent offer, just on the off chance that the deal falls through, but don’t get your hopes up.
Do you have any questions about real estate that you would like answered? Share your questions with me in the comments section and I will be happy to address them.