Make Your Best Offer Lake Charles Home Buyers!
Lake Charles Real Estate and home inventory has been lower in Southwest Louisiana this year. It is not uncommon to see multiple offer scenarios arise as a result of our local real estate supply. Lake Charles rental home options are also hard to find. Lake Charles investors are on the hunt for affordable property they can renovate quickly and rent for the influx of new residents moving here. Whenever a $50,000 house hits the market and the Lake Charles home may only require a few handyman projects, you can expect it go fast and bring multiple offers!
I recently listed a 1250 sq ft living three bedroom 2 bath home in Central Lake Charles. The listing went in on a Friday afternoon and within 24 hours I had multiple offers! The trend continued over the weekend and by Monday I had five offers in hand for my Sellers.
What to Expect with Multiple Offers
- All offers must be presented
- Notify all parties there are multiple offers
- Counter with “highest and best” offer
The Sellers have the right to choose which offer they will accept. Sometimes it can be difficult to decide which offer is best, they may all be very similar. The usual practice to be fair to everyone involved is to “counter” all the offers received with “highest and best”. Some buyers may decide to keep their offer the same, others will respond with a higher offer.
When making an offer it is always best to come from a point of strength. The Seller will look at the type of financing, cash, time frame and contingencies. Purchase contracts vary in terms from state to state. You need to rely on your agent’s experience and expertise to advise you in making the best offer that will be the winning bid! This is especially true with HUD and Foreclosure properties Sellers will always look at the bottom line profit!