4 Ways to Win the Multiple Offer in Real Estate…
You have trudged through countless houses and finally, Eureka, you find the Perfect Home!
Now you and your Realtor rush back to the office to write up an offer, only to hear the disappointing news, “there are multiple buyers offering on the home.” How dare they? How can you give yourself the best chance to win the Multiple Offer situation?
Below are 4 Ways to help you Win with a Multiple Offer!
1) Be Prepared, Be Pre-approved! If you are not already pre-approved, winning this situation will be nearly impossible. Get a preapproval letter in hand before shopping! It’s also important to have a Pre-approval Letter from a well known and respected, Local Lender! Use the lender your Realtor suggests, or someone referred to you by a friend or family member who has obtained a loan from him or her.
2) Be Professionally Presented! It may sound silly, but the Visual Aspect of your purchase offer can impact the Seller’s decision. If there are 4 offers on a home and yours is a hand-scrawled, half-completed, nearly illegible jumble of paperwork without the proper page numberings while others are cleanly-typed, clearly organized with correct page numbering and easy for the seller to read, you are putting yourself at a disadvantage. Sign your name legibly and select a Realtor who uses good software and is very technologically forward in their operation. (I’m applying for the job!)
3) Be as Simple as Possible! If you can obtain the financing without asking for the Seller’s to pay any of your closing costs, this is the time to use that to your advantage! Sellers often have a hard time understanding the “3% back in closing costs” part of a purchase agreement. If it’s difficult to understand, it can easily be set aside in favor of a more straightforward purchase agreement. Plus the Listing Realtor may be cautious about the home getting an acceptable Appraisal and may advise against your offer. This is especially true in a multiple offer situation since the prices offered may already be higher than list price.
4) Be Flexible! If you can, allow the Seller to select a closing date that works best for their schedule. Many times, I have been the Listing Agent for Sellers who pick the lower dollar amount offer because of the convenience of flexible terms. Let the Seller be the decision maker on as many terms as possible including Personal Property to be included, the Closing Date, or Posession Date (offer to let the seller have 24 hours after to closing to vacate the home).
Shopping for a house is one situation where it really pays to be prepared. Be sure to discuss with your Realtor and shopping partner, if any, exactly what is the top dollar you can spend. Adjust your search criteria accordingly so you can avoid getting into a multiple offer situation where you just can’t offer enough money. Best of Luck!
If you would like any additional information, please give me a call at 612-889-6496 or Ask Me a Question here.
Sheryl Petrashek is a Realtor with Re/max Results. She is based in Apple Valley and Sells Real Estate in Apple Valley, Burnsville, Eagan, Lakeville, Farmington, Prior Lake, Savage and Rosemount MN.
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Sheryl has been everything I would have hoped in a realtor when we decided to buy our home. She came highly recommended from a co-worker, and I can definitely see why. Even though I am sure Sheryl has numerous clients she is working with, she always makes me feel like I am her only client. She worked day and night to help my husband and I find the perfect home, and we did! And even after that, she checked in with us to make sure we didn’t have any questions and we knew what the next steps would be. I cannot say enough how much easier our home buying process was because she was our realtor. She gets two huge thumbs up!
Sheryl is a fantastic realtor. She was always very helpful at trying to find the perfect house you have in mind and then she will go the extra mile to make sure you get that perfect home. I have had the opportunity to work with Sheryl several times and each time I have been completely satisfied. This last home we bought required a lot of time and Sheryl was always great at keeping us informed of how things were coming along and explaining why it was taking so long. I always had lots of questions and Sheryl always knew the answer. Thanks Sheryl....you are the best!!! I will always recommend you to everyone that is going to be either purchasing or selling a home.
Sheryl and Laura were awesome to work with in selling my home. They were ultra-communicative from the word go and provided some excellent tips in staging my townhouse for sale. Their market assessment was honest and well-thought out and the online presence they provided helped get the house sold right away. Thanks so much Sheryl!!!!
We had a lot of real estate agents to choose from and we are so happy we decided to work with Sheryl and Bo. We were starting to feel a little hopeless that we would find the perfect house for us within our budget, but Sheryl and Bo were determined to find the right house for us and they did! There was an issue with the appraisal coming in low, so Sheryl did her research and wrote an excellent rebuttal to the appraiser and she was able to get the the appraisal increased so there weren't any issues with financing. Their communication was top notch - our calls, texts, and emails were always returned very quickly. We would highly recommend working with Sheryl and Bo!
Sheryl was such a joy to work with when selling our first home! She made the process very smooth and my husband and I knew we could trust her with every detail. She was upfront and honest so we had very real expectations when listing our home. She exceeds the competitors in marketing and knowledge of the market. We always knew Sheryl was on our side and in every situation she represented us with integrity and professionalism. We would refer all of our family and friends to her and we will definitely be customers of hers again. We had an offer on our home in 3 days and sold our home more quickly than we imagined! Sheryl and her team are wonderful!
I had a great experience with Sheryl and her entire team. She was available for questions anytime I had them and was flexible in scheduling time to view properties. I'd highly recommend her to anyone else I know that is purchasing a home as her knowledge and expertise made my home buying experience fun, exciting and most of all, painless. Aaron, Maple Grove
This was our second time working with Sheryl Petrashek. She first helped us with the process of building a home and then she helped us sell it a few years later due to us deciding to move closer to family. Sheryl always took the time to promptly communicate with us whenever we had questions or needed an answer for something. She always stayed on top of the latest market trends and was always thinking "one step ahead". Sheryl always explained things so we fully understood the process and felt confident. I would recommend Sheryl to anyone building, buying, or selling a home. She is wonderful!
Sheryl Petrashek and her team could not be more professional. It was our families first time buying a home and we definitely felt very confident she was going to get us the best possible deal. She was always easy to reach and responded to any questions we had immediately. Having her expertise on our side made the process that much easier. I would recommend Sheryl to anyone who needs expert and professional real estate advice or needs. She even recommends my uncle for anyone in need of handy work in the south metro area. There were three other offers on the house we wanted and Sheryl worked her magic. She treated our family with the utmost respect and was a delight to work with.
Sheryl sold our home after the market crash. She was professional, enthusiastic, and, most importantly, knowledgeable. She was able to explain the intricacies of the offer and counter offer, the inspection, the bank's opinions. She knew my neighborhood, and had actually sold homes there before selling mine. She goes above and beyond in every area. I even recommended her to my cousin when she sold her lake property. I only have good things to say about Sheryl.
Sheryl Petrashek listed two condo properties for us. We found Sheryl to be a professional who used her strong marketing, communication, and reporting skills to sell our properties. However, what really separated Sheryl from the rest was her willingness to do whatever task was necessary to make the deal happen. She truly exhibits a “can do” attitude, and she takes the “full service realtor” concept to an entirely new level.
Sheryl was an amazing realtor for both the sale of our old house and the purchase of our new house. Sheryl and her team were great with taking care of all the details and the representing us with any issues that came up. Sheryl went above and beyond what I believe any other realtor would have done for us, and for that I would highly recommend her to anyone looking to sell or purchase a home. With Sheryl's knowledge and experience she puts the client first, which sets her apart from other real estate agents we had dealt with for our previous two homes. Thank you for your representation, without you I don't think our home purchase would have gone as good as it did!
Wonderful experience and a great realtor with no pressure sales! Always willing to make things happen!
Sheryl is an excellent agent who supports her clients from start to finish. Her knowledge in the market is phenomenal and she gets houses sold. My experience with Sheryl has been such a relief to know that she is always looking out for you and doing what she can to make the selling process less stressful. I have had Sheryl help sell 2 houses now and she is on the top of my recommendation list for family and friends. Don't think I could have gotten through the process of selling our current house without her. A big Thank You to Sheryl!
I sold my house with Sheryl and highly recommend her to anyone looking for an agent. I come from a business background and am skeptical of hiring other professionals unless I truly believe I will get the value from the high costs that come from Real Estate Agent fees. Sheryl and her team were absolutely worth the investment. Sheryl was extremely knowledgeable about all aspects of selling the house and I was continually surprised and impressed by how "on top of things" her and her team were. Sheryl also does a great job utilizing online resources to help get traffic and attention to her listings. She brought in a professional photographer and Stager to the house to create great listings, and utilizes multiple forms of social media and real estate websites to create demand. Her and her team are very impressive!
I have had the best experience with Sheryl buying my house. It’s a very exciting time and also a big decision of my life, but she made it sound really fun and simple to me, always gave me feedback on things that made so much sense and made it so easy for me to make my decision. Very knowledgeable, pleasant individual to work with and I am so grateful. Thanks Sheryl.
We connected with Sheryl Petrashek from the start. She deftly guided us through the pricing and preparation decisions that streamlined the process and left us very happy clients. We would not hesitate to recommend Sheryl to a friend for selling or buying a home. The best summary is she does what she says she will do, and conducts herself in a very professional and friendly manner.
Sheryl Petrashek & her team were a great support through our downsizing this last year. From the beginning Sheryl listened and made wonderful suggestions to what updating was needed to get our house ready to sell. Her expert knowledge with the market analysis and explaining to us in layman terms so we could understand was much appreciated. She never pushed us to sell sooner than we were ready. She gave us all the pros & cons for what season to put the house on the market was best, and when we were finally ready it happened in the Fall and Sheryl was all in! Once the house sold, her whole team jumped into action, with helping us find a new place to live and working out all the little details to get us to closing. We will always be grateful for choosing Sheryl to represent us in the journey that we’ve been on. When we sell/buy our new house Sheryl will be the one we call. OUTSTANDING!!
Sheryl is a true professional. Her knowledge, experience, patience, and professionalism were a true asset to my husband and I while we were searching to buy our home. Sheryl has a true passion for real estate and it shows when working with her. We felt that she had our best interest at hand and are VERY happy with the house that we purchased. I have told several friends/relatives about our experience with Sheryl and I would undoubtably recommend her to anyone.
Sheryl was referred to us for our unique home buying experience. Her understanding our of needs ensured that our initial property purchase would ultimately allow us to fulfill on our home building goals. Sheryl market knowledge with property visits were always spot on and informative. She always had her information prepared and outlined to provide the best options a property had to offer. Sheryl's candor navigating those options was very much appreciated, as she always kept our long term goals in site. Sheryl is an "all-in" agent. She will ensure that your expectations - start to finish - will be met, and that your home buying experience will be a pleasant one!
Sheryl was wonderful! Being first time home buyers and new to the area, she helped us and was so patient with our questions. She was so flexible and always available when we needed her. We would always brag to our friends that we had the best realtor ever!! We would recommend her to anyone whether it's your first or your tenth home!
Sheryl is not just an agent, she is a teacher. She will help teach and guide you through the process of buying or selling a home so you can be confident that you are making the best decision for you and your family. Anyone can tell you WHAT to do. Very few can explain what factors to consider and WHY you should consider them.
Sheryl has an amazing personality. She is always so happy and friendly. We really enjoyed working with her. When we went to meet her the first time we had no clue about the type of a house we wanted. We just said we want to buy a house. Then she explained to us that there are different styles of houses. She also showed us a map that covered all the areas we were interested in and the price range we liked. The first time we went to see houses she included different styles of houses so she could get an idea of what we liked. That visit taught us so much about houses. Then once we found what type of house we liked she found many more houses like that in so many areas. Thank you so much for finding us our dream home!
Sheryl is a great realtor. She had great resources and go to people for project work. I appreciate her marketing approach. Her website was great. The photos of the house were done nicely. She was willing to help us with anything we need and explained the sales process well.
Sheryl was such a pleasure to work with while selling our house and buying a new home. It is clear that she loves what she does and she is very knowledgeable about the market. She gave us some tips about putting our house on the market early in the spring to get a jump start and she was completely right - our house sold in just one day! She made what could have been a completely stressful experience smooth and enjoyable. She was always quick to respond to any questions and always made us feel like we were her most important clients. We highly recommend Sheryl!
We learned of Sheryl Petrashek through some previous neighbors of ours. They sold their house in a few days in, what was at the time, not a great market. They said more than once that Sheryl was amazing. Well, let’s see… We first met with Sheryl in early April. What was scheduled to be an hour and a half visit ended up being 3 hours. She was so willing to spend as much time as needed with us to answer all of our questions about selling our house. She left us with a list of tasks to tackle, but we knew she knew what sold houses. We made it through the list in about a month, listed our home, and it sold within 36 hours! We were so thrilled that our home sold so quickly. Sheryl knew the market in our area like the back of her hand and her suggestions for upgrades, decluttering, and staging were on point! We were also busy on the flip side of the coin looking for a new home in Hudson, WI. We found an agent located in Minnesota and also licensed in Wisconsin. We had some challenges and Sheryl even stepped in to help us overcome those challenges. Sheryl welcomed the challenge to work with a Wisconsin-licensed partner in her office to see if she could help us find the home of our dreams. It was seamless for us. On both sides of our realty experience, Sheryl’s response time was incredible. Sheryl and her assistant, Laura were in complete lockstep and never did a phone call or email go unanswered for longer than an hour. We were kept up to date every step of the way. Sheryl was never pushy and always thought of us first. She asked us the right questions to help guide us through the process. Sheryl is an amazing person and a top-notch realtor. We highly recommend Sheryl for any realty needs!
Sheryl Petrashek was an amazing find! She took me through the buying process of my first investment property! She did this with the upmost class, integrity and professionalism. She was well informed on any and all areas of concern, and if there was something she wasn't supremely sure of, she did her research and had an answer to me usually within a few hours, and always before the end of the day. I would highly recommend anyone looking to contact Sheryl!
From professional pictures to creative ways of marketing a property, Sheryl knows what it takes to get a home sold. I will definitely be calling her again in the future.
I have worked with at least a dozen realtors over as many years in MN and none has shown the marketing acumen that Sheryl and her team applied to the sale of our townhome. I feel like I have received white glove service. Sheryl must have been developing her marketing strategies for some time. They report regularly on competition in the area so that I can stay informed and are not shy about telling me what I need to do to actually sell. Most importantly, they don't just rely on the internet or street sign to sell the property. They use their analytical capability to review data from the MLS and elsewhere and tailor postcard mailings and email campaigns to the most likely buyer (in my case it was reverse prospecting people who had...) My past brokers have done ok - they made sales - sometimes very good sales - but I felt like it had very little relation to their marketing capability (several of these are good friends now, in spite of my experience) Sheryl and her team earn their fee through intelligent and aggressive salesman(woman)ship.
Sheryl has it all - not only did she have a vast wealth of knowledge and experience, she was very kind and patient, supporting me every step of the way.
Sheryl has been great throughout the entire process of finding and negotiating the purchase of our new home. We feel as though we have always been her top priority. Her responsiveness to our questions and concerns and her dedication to our project has been outstanding. Her knowledge of the local area and the construction methods and terminology is impressive beyond compare. She has made the entire experience very pleasant and painless. We will highly recommend her to anyone planning to buy a home.
What I really love about her is that she is so patient. We took my four month old baby and she actually looked after the baby until we looked around the houses. She explained the positives and negatives of each house. She is very honest and very open. We found our home within a month and we are extremely happy at our new place. It is everything we looked for and the best part is it is within our budget range. I’m so glad we went to her. She is friendly, caring, patient, honest and extremely good at her job!
Sheryl and Bo are amazing to work with, they are both very knowledgeable and explain things thoroughly so as sellers/buyers, we always understood what was going on. They have worked so hard to get our house sold and get us matched with a perfect new home and I recommend them to everyone we know and we will absolutely work with them in the future!
Sheryl was a great realtor to work with. She is incredibly knowledgeable about the market and worked with us to promote and sell our home. She is easy to work with and also has a great team working with her. We highly recommend Sheryl to anyone looking to sell their home or her assistance in buying a new home. She definitely takes great care of her clients.
Sheryl is a dream to work with, she is very knowledgeable about the current market and was able to help us sell our home in Apple Valley. The entire sale was very smooth and there were no surprises as she walked us through every step! I highly recommend Sheryl to anyone selling a home! Thank you Sheryl!
Sheryl Petrashek was great throughout the process. Her marketing strategy along with her many years of experience is what sold us. Once we began working with her she was very responsive and we especially appreciated her attention to detail while looking over the offers and walking us through each one. I would definitely recommend Sheryl and her team to others.
Sheryl was fantastic! She helped us find a home that fit us perfectly! She was wonderful to work with and her passion for helping people find their home shines through! She made our move to the twin cities area very easy and comfortable!
Sheryl has helped us get our home ready for the market place. She gives great advice and has wonderful marketing ideas. I’m using her as my agent for finding my next home. She is a great listener and is very accommodating to my schedule.
Sheryl is a very caring agent.She will do everything she can to help you. She also found us a home. She is the best you can find. Thanks for everything. By the way Bo is great too.
Hard worker doesn't even begin to describe Sheryl's drive to go above and beyond the call of duty. She is extremely knowledgeable and without a doubt has her client's best interest in mind. Would choose her again and again and would highly recommend!!
After accepting a promotional opportunity in another state, I had no choice but to put my house on the market during the late fall which was by no means ideal. With very few people looking to buy during that time, you can imagine my angst. Sheryl however kept us very informed along the way telling not to panic and gave me great advice on when I should slightly drop the price a bit or when to hold tight. During the winter months when I was no longer in my home, she also made sure to physically check out my house each week to be sure the furnace was still working and no pipes issues. Another huge weight off my shoulders. She also knows her stuff in regards to marketing. She literally spent one afternoon helping me arrange my furniture to make sure my house photographed well for the online photos. She also uses a professional photographer, so the pictures were great!
Sheryl and Bo went above and beyond expectation with ideas, personal attention and services for enhancing my buying experience on both the buying and selling side of the equation. They were organized, professional and set expectations that ultimately proved to be spot on.
Working with Sheryl has been great. She's extremely knowledgeable about all aspects of the buying and selling process and is able to give expert advice. She and her staff are very organized and do a wonderful job of keeping us informed of all the moving parts. We appreciate the work of Sheryl and all the others who have helped us with this process."
It was a pleasure working with Sheryl in the recent sale of my home. She is so knowledgeable of so many aspects of real estate including markets and home construction. Her people skills and ethics are impeccable. I would highly recommend her as your realtor.
Sheryl is absolutely wonderful! In this economy I thought selling our home would be next to impossible but Sheryl made it so easy! Sheryl will go that extra mile for you. She is extremely knowledgeable and offered great advice and recommendations to get our home ready for showings. She is not only very professional but very likeable and friendly. I highly recommend Sheryl and look forward to working with her to buy my next home!
I am so glad I got to work with Sheryl and Remax Results. Sheryl was open, totally flexible to my schedule, and very good at keeping me updated and informed about homes available. After helping me finally find the perfect place the entire team did a great job of guiding me through the process and preparing me for an easy and successful closing. Honestly, I don’t think finding and buying a home has ever been easier. Thanks
Sheryl and her team are fantastic. They were there every step of the way for us. We sold our house in 4 days for the asking price. We would recommend Sheryl to anyone.
Sheryl is very knowledgeable and professional, who puts her clients first. She works for the best interest of her customers. She has assisted me to sell my house before and she just helped to buy a house recently. She takes time to listen to her clients and works hard to make sure she meets their expectations. There is no doubt, she is excellent and the best in what she does and I will recommend her a million times. With Sheryl you are in good hands. Thanks Sheryl
Sheryl became my listing agent when a previous agent and I agreed to "part ways" after 3 months. After interviewing 7+ agents, I decided to engage Sheryl and her team in the sale of my home. The data driven process her team employs, the technology driven marketing approach and her knowledge of how the twin cities market was shifting/changing, were the decision points for me to engage Sheryl. Other agents I interviewed talked about their marketing approaches and use of technology. Sheryl's team delivers the cutting edge approach that worked. I saw the results of all of those decision points with the quick sale and closing of my property. Would I use Sheryl and her team again? Absolutely. Would I recommend Sheryl and her team to others? Without hesitation.
Working with Sheryl has been great. She's extremely knowledgeable about all aspects of the buying and selling process and is able to give expert advise. She and her staff are very organized and do a wonderful job of keeping us informed of all the moving parts. We appreciate the work of Sheryl and all the others who have helped us with this process.
We worked with Sheryl this summer to sell our house. She was wonderful and easy to work with through the whole process. We relocated out of state and had a quick closing date and Sheryl did a great job of managing the home sale despite the tight schedule and us being out of state. We never felt uncomfortable with how the home sale was going. She in particular went above and beyond to help us meet all the negotiation items (radon system, plumbing improvements, etc..) before a very short closing date. We highly recommend Sheryl.