Should You Wait to Make an Offer in Indianapolis?

Indianapolis Real Estate Podcast with the Evelo Team

Selling in the Indianapolis area? Get a free home value report

Purchasing in the Indianapolis area? Click here for full MLS access

We have a few questions to answer today, all relating back to managing multiple offer situations from a buyer’s standpoint.

Should you wait for other offers before making one? We advise against this, because you should submit your offer as soon as possible. Our marketplace is competitive due to low inventory. It’s easy for a home to sell quickly, even in under 24 hours. You should dodge multiple offer situations whenever you can. It can drive up the price quickly.

Additionally, ask for a limited time frame of acceptance. Ask your agent for a recommendation of an appropriate time frame. This urges the seller to accept or decline your offer in a specific amount of time.

If there’s already an offer, should I still make one? If you like the house enough, submit an offer. However, you need to use two strategies. First, write off highest and best number. If this offer is then rejected, you’ll already know you put your best foot forward already. Second, get pre-approved ahead of time. This shows the seller you’ve consulted a lender to make this major financial decision.

How can my offer stand out? Avoid contingencies at all costs. For instance, if you’re dedicated to a property, you might want to pick up some fees as the buyer. You can protect yourself while reducing contingencies for the seller.

As always, if you’re thinking about buying or selling a home in the surrounding Indianapolis area, reach out by phone or email. We’d be happy to answer any questions you might have and possibly turn one into a future video! Talk to you soon.