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Real Living Now Real Estate

Multiple offers and buyer’s remorse

There has never been a time of more properties coming back on the market as there are today.  When Buyers find themselves competing for a property and themselves in the frenzy of multiple offers.  Buyers can easily be swept away in the wave of competition.  What can follow after the Buyer wins the bidding war is a massive case of Buyer’s Remorse.

Fueling the Buyer’s Remorse is others offering their opinion on the transaction and informing the Buyer of what they would have done.  Those opinions and advice of well-wishers can be the catalyst of the Buyers opting out of the transaction.   There are Buyers who are repelled by competition and other Buyers who are propelled to act.  The property that receives multiple offers appears to be the house that everyone wants.  It just may be the property that is prime for the greatest future appreciation.  This property could be the property that continues to outpace the market in appreciation and may be a wise, sound, and safe investment.

To reduce the risk of the transaction failing, the Buyer’s Agent should derive a negotiation plan for the offer.  Developing a strategy to balance the emotional buy with the rational buy.  The Buyer needs to approach negotiations with discipline and complete understanding of the market value of similar properties.  I have seen Buyers go through the joy of getting the house to the woes of “What did I do?” and within days realize the joy of getting their dream home.