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How Home Sellers Handled Multiple Offers

Key factors influenced home sellers to select a particular offer-to-purchase over others.

Statistics from 2013 sales data indicates the key reasons a particular offer-to-purchase was chosen over all others.
Statistics from 2013 sales data indicates the key reasons a particular offer-to-purchase was chosen over all others.
When housing demand is up, home sellers can expect multiple buyers to submit offers-to-purchase.

So how did sellers handle multiple offers? How many offers did they get? What influenced their decision to accept one particular offer over all others?

The CALIFORNIA ASSOCIATION OF REALTORS® compiled statistics from 2013 sales data that answers those questions. Here is what they found:

In 2013:
  • 98 percent of sellers received multiple offers, receiving an average of 5.9 offers from buyers.
  • 77 percent accepted the highest offer.
  • 47 percent selected the best mortgage-qualified buyer.
  • 39 percent took the "no contingencies" offer.
  • 23 percent chose the all-cash offer.
  • 14 percent preferred the buyer who could close the fastest.

Source: CALIFORNIA ASSOCIATION OF REALTORS®, April 7, 2014, available from
"How Did Sellers Handle Multiple Offers"; Internet; Accessed April 10, 2014.

Bill Burchard, Broker, REALTOR®
3B Realty
BRE# 01864774
Bus: 951-347-3818
Email: Bill@My3BRealty.com

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Alek J Hidell April 10, 2014 at 12:38 PM
when I bought my Bank-owned foreclosure in Central Murrieta in 2011, the first house I liked had 14 offers the first day it came on the market. My realtors advised me to offer more than the asking price, but I didn't. Needless to say, I lost out. the next house I offered just $2K below the asking price, and got it. You had to move fast, even with cash purchases. Now you know why the flippers are back in force here, and the renters are being evicted..... Soon Murrieta will be back to pre-Crash numbers...
Bill Burchard April 10, 2014 at 01:18 PM
I think your agent gave you good advice, George. It sounds like you quickly learned what to do to win the bid. Given that you purchased the home in 2011, I imagine you have had a sizable increase in equity. Congratulations! I have had quite a few renters contact me about finding a new place to live, explaining that their landlords decided to sell the property. Many homes have increased in value by 20-30 percent, or more. The landlords want to cash in and take a nice profit. Other landlords were underwater until recently and were waiting for prices to increase to the point where they could sell without tainting their credit due to a short sale or foreclosure.

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