We are currently experiencing a very interesting real estate market in select communities across Metro Detroit Real Estate Market. With the inventory of homes for sale literally being cut in half from a year ago, and the demand increasing, home buyers are finding themselves often in bidding wars and in multiple offer situations.
One tip that I have always suggested to my buyer client’s when they are finding themselves in this situation is to add a personal touch to their offer. I recommend writing a “Letter from the Heart”.
Before I go into this further, when you are in a multiple offer situation, you will want to submit your highest offer that should have a large earnest money deposit and minimize the amount of contingencies you have in the purchase agreement. Now if there is more than one offer, you need to try to tug at the heart of the sellers. This is where you will want to write your “Letter from the Heart” that will go into detail explaining how you can envision yourself or your family in this home. Go into detail on how you plan to create wonderful memories and taking very good care of “their” home. Again, don’t hesitate to make this letter as personable as possible.
In this Metro Detroit Real Estate Market you need every advantage possible and sometimes, spending a few minutes in composing this letter can give you the winning edge and may be the deciding factor if the other offer(s) are all the same.