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Multiple Offers Put Home Sellers in Control

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By Paul Owers

house_key_multiple_offfers(MCT)—The spiffy five-bedroom house on a quiet cul-de-sac in Miramar, Fla., hit the market for $379,900 on a Monday. By the close of business, there were two offers, but listing agent Carlos Martin was preaching patience.

Tempting as it may have been to pick one right then, seller Robert Kull waited a week for more offers to materialize.

It was a wise choice. The home ultimately drew five bids. Kull rejected two cash deals in favor of a full-price offer from a buyer willing to pay above appraised value.

“We knew it was a real strong market,” Kull says. “Carlos said if we just hold out, we’ll get a full-price offer, and sure enough we did.”

Multiple offers are the Holy Grail of the housing recovery, but it takes skill and a dash of diplomacy to sort through all the possibilities.

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