Sunday, January 20, 2013

Las Vegas Real Estate Market and Multiple Offers

Las Vegas Real Estate Market and Multiple Offers.
Las Vegas Real Estate Market and Multiple Offers.- 
Multiple Offer situation is very common in Las Vegas Real Estate Market, if you happen to be part of one, most likely you will be asked to submit your highest and best, which basically means they have several offers for the house you are interested in and the seller is giving you a chance to reconsider your original offer and basically increase your offer if you feel the house for sale is worth the increase. I had instances where my clients indicated their highest and best offer  is the amount they originally submitted and they were awarded the house, and other instances where they increased their original offer by 5,000 or 10,000 and they didn’t get the house. So it can go either way.

I personally recommend not to get discouraged because of a multiple offer situation, sometimes your offer doesn’t have to be the highest offer to win, but the strongest and cleanest offer. You offer may be the 2nd or 3rd highest and just happen to be that the first offer  is not responsive, then they may contact the second offer  and that one already found a different house in Las Vegas, because this one was taking extra time doing highest and best, so you could be that lucky third in line and get the house right?  So keep at it.. !!!

I strongly advise you to sit down with your real estate agent and figure out that number that is right for you, and submit your highest and best offer for the house for sale from the beginning, some sellers in Las Vegas do not want to go through highest and best and will pick the best cleanest offer on the first round.

Foto:Images_of_Money from flicker

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