{"id":3219,"date":"2020-07-15T08:08:00","date_gmt":"2020-07-15T15:08:00","guid":{"rendered":"https:\/\/www.flyhomes.com\/blog\/?p=3219"},"modified":"2021-07-27T08:59:52","modified_gmt":"2021-07-27T15:59:52","slug":"what-happens-on-offer-day","status":"publish","type":"post","link":"https:\/\/flyhomes.com\/blog\/what-happens-on-offer-day\/","title":{"rendered":"What Happens on Offer Day"},"content":{"rendered":"\n<p>Imagine this: You\u2019ve found a home you love and <a aria-label=\"submitted your strongest offer (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"http:\/\/www.flyhomes.com\/blog\/how-to-craft-a-strong-offer\" target=\"_blank\">submitted your strongest offer<\/a>. Your Flyhomes Agent is working with the seller\u2019s agent, <a aria-label=\"negotiating on your behalf (opens in a new tab)\" href=\"https:\/\/www.flyhomes.com\/blog\/how-we-negotiate\/\" target=\"_blank\" rel=\"noreferrer noopener\">negotiating on your behalf<\/a> (with your input) as necessary.\u00a0<\/p>\n\n\n\n<p>Maybe you\u2019re actually living this today! Congratulations!&nbsp;<\/p>\n\n\n\n<p>We know the time you spend waiting to hear back after submitting an offer can be stressful, so we want to help save you from some of that nail biting by sharing what to expect on offer day and make you aware of situations that may mean we need to revisit your offer.&nbsp;<\/p>\n\n\n\n<p><strong>Submit on time<\/strong><\/p>\n\n\n\n<p>Often, sellers and listing agents set an expiration date and time after which they won\u2019t accept offers. This indicates that they\u2019ve set aside that time to go over all the offers that have come in together. While you can technically submit an offer after that time, the message will be that you don\u2019t respect their time. They may ignore late offers altogether. We\u2019ll make sure you\u2019re aware of the expiration so we can meet it!&nbsp;<\/p>\n\n\n\n<p><strong>Check ins<\/strong><\/p>\n\n\n\n<p>Once your offer is submitted, the listing agent will usually let us know they\u2019ve received it. Your Flyhomes Agent will check in with the listing agent every few hours to gauge how competitive your offer is.\u00a0<\/p>\n\n\n\n<p>Your Flyhomes Agent should also have a general knowledge of the seller\u2019s timeline and will communicate the timeline to you. It\u2019s not uncommon for us to find out that a seller needs extra time (for example, they may be traveling).\u00a0<\/p>\n\n\n\n<p><strong>Comp deviations<\/strong><\/p>\n\n\n\n<p>Price comps tell us the value of a home within the past few months. They\u2019re a look back in time to establish a reasonable current market value. We use them as a point of reference when deciding on an offer price that\u2019s right for you. However, in a hot market, the comps may not be applicable. Prices can rise higher if multiple offers come in. Be prepared for this by knowing how high you\u2019re willing to go.&nbsp;<\/p>\n\n\n\n<p><strong>Listing agents go for the best deal&nbsp;<\/strong><\/p>\n\n\n\n<p>As soon as we submit your offer, the listing agent will update other agents whose buyers have submitted offers and agents whose clients seemed to seriously consider the property. They\u2019re trying to get the best deal for their clients (the sellers). The fact that you\u2019re interested is a leverage point for them.&nbsp;<\/p>\n\n\n\n<p><strong>Bidding wars<\/strong><\/p>\n\n\n\n<p>If the listing agent receives more than one offer, they\u2019ll up the ante and ask for a better offer based on what else came in, assuming offers are comparable. This is when we need to be flexible and to understand our \u201cbottom line\u201d for price and terms.&nbsp;<\/p>\n\n\n\n<p><strong>Ghosting<\/strong><\/p>\n\n\n\n<p>A listing agent who\u2019s responsive and collaborative up until an offer is submitted will often go quiet once the offer is in. This strategy isn\u2019t uncommon or unexpected. It means they\u2019re talking with other agents, reviewing the offer with the seller, or maybe \u201cplaying hard to get\u201d to hold their ground on price or terms.&nbsp;<\/p>\n\n\n\n<p>Your Flyhomes Agent will do their best to get follow-up information. If we think the listing agent is negotiating with another agent, we may recommend preemptively updating your offer to stay in the mix.<\/p>\n\n\n\n<p><strong>Stay positive and know your limits<\/strong><\/p>\n\n\n\n<p>Your Flyhomes Agent will always try to get you the most information possible to make informed decisions. However, sometimes information is difficult to come by when the ball is in the seller\u2019s court. Remember that we\u2019re negotiating with individual people who each have their own style; some simply aren\u2019t very communicative.\u00a0<\/p>\n\n\n\n<p>You may have to make decisions with little or no information, and we support you doing what you\u2019re comfortable with. It\u2019s important to keep a positive outlook while being realistic about your limits.&nbsp;<\/p>\n\n\n\n<p><strong>The news!&nbsp;<\/strong><\/p>\n\n\n\n<p>As soon as we hear final word from the listing agent, we\u2019ll be in touch to tell you. Feel free to check in with us if you\u2019re getting anxious, too. We may not have an update, but we\u2019re happy to talk and answer your questions \u2026 or just distract you!&nbsp;<\/p>\n\n\n\n<p> Having worked with hundreds of buyers, we know it can be discouraging to lose out. We also know there\u2019s more than one home you\u2019ll love! If one doesn\u2019t work out, we\u2019ll keep working with you to get the next one.&nbsp; <\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"has-text-align-center\">Ready to get started? <\/p>\n\n\n\n\n\n\n<hr class=\"wp-block-separator\"\/>\n<input type=\"hidden\" id=\"calendly_utm_post_id\" value=\"3219\" \/><input type=\"hidden\" id=\"calendly_utm_post_title\" value=\"What Happens on Offer Day\" \/>","protected":false},"excerpt":{"rendered":"<p>Find out what to expect on the day your home offer is submitted, including situations that may be opportunities to submit revisions. <\/p>\n","protected":false},"author":148668397,"featured_media":3222,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8553],"tags":[],"class_list":["post-3219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Happens on Offer Day - Blog<\/title>\n<meta name=\"description\" content=\"Find out what to expect on the day your home offer is submitted, including situations that may be opportunities to submit revisions.\" \/>\n<meta name=\"robots\" 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