uyers Through The Door
sale is pushing more buyers to make
those hard-to-resist bully offers
days before the seller is officially
accepting bids, attempting to grab
the upper-hand.
Do Bully Offers Always
Win?
Although bully offers are often
accepted, even on properties
expecting multiple offers, sellers
must weigh the sure sale against the
uncertainty of the bids submitted
on offer day.
Bully offers are more tempting than
they may seem. Sellers win when
the accepted bully offer is much
more than they had expected.
On the other hand, with a bidding
war, sellers may be offered much
more than presented in a bully offer.
If they reject the pre-emptive offer,
they run the risk of being offered
less on their official offer day.
Should I Entertain a
Bully Offer?
It’s best to discuss your offer options
with your Benczik Team Realty
member, as sellers have the choice
of refusing your option to submit a
bully offer. Your real estate buying
agent will have a better idea of
what to expect for the home you’re
interested in buying and its stand in
the market.
A bully offer might be the right
course of action for a home you’re
interested in and is likely to get a
lot of attention. It gives the seller
something to think about before
they have time to consider other
offers on the table. However,
sellers aren’t always interested in
entertaining a bully offer, and you
Same goes for sellers: ask your might not have another chance to
selling agent how many offers they submit a bid on the home on offer
are expecting, as your agent will be day with other buyers.
in touch with other agents before
offer day, giving them an idea of Discuss all your options for
possible buyers interested in your submitting the best bid if you’re
home. You’ll need to weigh the in the market for a new home this
potential number of offers against summer. Buying a home? Have a
the bully offer to determine how conversation with your Benczik
much you can actually expect: only Team Realty buying agent as to the
a few offers coming in, accepting best course of action for your home
the bully offer might be the best and whether making bully offers
option; multiple offers, your odds are in your best interest.~
are better to wait for a possible
bidding war.
Submit Bully Offers with
Caution!
Submitting pre-emptive offers in
a seller’s market is tempting. And
might be the right course of action.
Buyer beware, though.