Multiple Bid Situations FAQs
WHY!!! HOW DID THIS HAPPEN??
100+ People have been moving to Charlotte EVERY DAY for several years now. These guys want a place to live AND they are competing with investors because rentals are also in high demand.
Will I get a second chance to offer a Highest & Best?
NO! You should submit your Highest & Best and don’t assume you will get a second chance.
Price
Due Diligence Money
Earnest Money
Due Diligence period
Close Date
Lender Use a lender that is known in Clt to get the deal done. Your Pre Approval should be for HIGHER than you are offering so you look like you can easily get financing for this loan and you are not barely able to make your down payment.
Appraisal Contingency saying I will make up difference if it does not appraise?
YES! This helps you compete with the cash offers. Cash offers are COMMON in CLT. We have addendum with a cap set.
Escalation Clause Some agents do not like these and states this in the agent remarks in MLS. The RE Commission does not endorse using them because they require the other buyers to show what they offered so you can beat it. Lilac Realty policy does not allow them.
AS IS Addendum ASSUME The home is as is when you make offer. We will still do inspections so you know any repairs that need to be made. AS IS does not mean no inspections.
