We have had a few multiple offer situations in the past month working in the Jacksonville real estate market. When the home is priced right this is a big possibility.
From a buyer's standpoint, it doesn't pay to mess around. See that home priced at $300,000 that is already a great buy based on everything else you've looked at? Don't offer $250,000 on it if you want to make sure you get it.
Smart listing agents know how to price a home correctly to get it sold. When the Jacksonville home is already priced really well, you risk losing it if you decide you are going to offer a lot less. When you structure your offer, structure it off of what the comps show and what the home is worth in today's Jacksonville real estate market. Don't try to structure your offer based on a certain percentage off of asking price. This is a losing strategy.
Case in point. Last week we had an offer come in that was silly. The house was already bargain priced, but the buyer wanted to get an additional 15% off of an already below market price. Our sellers rejected the offer. The same day we got in another offer that was much higher. The offer was accepted. A few days later the first buyer came back and offered much higher, this is a deal that would have worked had it been offered in the first place. But it was already too late. By wanting to push the envelope the buyer lost out on a home that they apparently really liked since they were willing to come back with a much higher offer.
We've seen this happen several times lately, don't let it happen to you. Make educated offers in the Jacksonville real estate market. Understand the comps and understand what the home is worth before making an offer. Don't make an offer without looking at the comps.
We want all of our buyers to get great deals. There are times in the current Jacksonville real estate market where this means offering 70% of the asking price...there are other times that this means rushing in with a full price offer before the next guy does.
