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Tuesday Tip - How To Distinguish Yourself in a Multiple Bid Situation

There's no question that Boston real estate belongs to a competitive market.   As a buyer, it can overwhelming when you show up to an open house that looks more like the mall during the holiday season.  It's even more anxiety provoking when you realize that the home is exactly what you, and everybody else there, have been looking for.

Of course, there are some things you can do to increase your chances of coming out on top in a multiple bid situation.  The obvious recommendations, such as paying cash, waving financing contingencies, or increasing your initial bid are all great.  But these all require some monetary backing.  What if you don't have that option?

What can you do to stand out to the sellers of your dream house?  Here's a thought - many buyers will write a letter to the sellers and include it with their offer.  This in itself is a good idea, but not an original one.  Try submitting a letter to the seller several days before offers are reviewed, so they get to know you and have time to digest your words before the offer due date.  You know the saying, "a picture is worth a thousand words," well it rings true in this instance.  A picture of yourself or your family accompanying the letter is likely to engage the seller further.  This way they will be looking for your offer the day they are due.  True, your offer might not be the highest, but the seller may feel more connected to you, even if they later receive other personalized letters with offers, because they have had some time to think about your cute family and the words you put to paper.

In the end, money talks the loudest, so if the seller gets an offer that far exceeds yours, Shakespearean sonnets won't change their mind, but if they're deciding between a couple of close offers, the personalized touch - and the extra time they have to think about you and your story - will definitely leave an impression and distinguish you from other buyers.

For a complete guideline to seller correspondence and more tips on becoming a distinguishable buyer give us a call at 617-236-0353

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