The Miami Beach housing market has a lot of positive news for both Miami Beach sellers and home-buyers. For those considering buying a Miami Beach home for sale, there are many concerns as surging demand, rising prices, and dwindling inventory cast a shadow on buyers interested in the Miami Beach luxury market. As a potential Miami Beach home buyer, you may have started to wonder how and when you are going to find your perfect waterfront luxury home on Miami Beach. There is still good news since demand helps Miami beach sellers feel confident with putting their home on the market for sale.
If your determined to purchase a Miami beach Home, you may have crossed out many things on your want/need list to help your chances of securing a good deal or perhaps you’ve reached the point where you are just satisfied to find available Miami Beach homes for sale. In areas with tight inventory such as Island communities in Miami Beach, exclusive waterfront neighborhoods in Miami Beach and gated luxury homes and mansions in Miami Beach especially, its a give and take. You may be having a hard time with the competition to find your Miami Beach home forcing you to consider writing backup offers for the Miami Beach home(s) you are considering.
Buying a Miami Beach home with a back-up offer is a good way to negotiate for a home your really want that may already have an offer. A backup offer is an agreement you make with the Miami Beach home seller after they have accepted another offer by a different buyer. A backup offer places you second in line for the propertym if the primary buyer is unable to close on the sale of a Miami Beach property for any number of reasons.
If the first offer contains any contingencies requiring sale or appraisal of another Miami Beach home or financing or even an inspection, and they are not met, then you are the next in line and under contract to purchase the home. The offer applies unless or until you find another Miami Beach waterfront home that you want to place an offer on. In that case you would need to withdraw your backup offer.
In this day and age, with inventory at all time lows, finding your perfect Miami Beach can be difficult. Choosing to submit a backup offer is not easy, either, but could be worth it. Contact us your Miami Beach realtors to see how we can help you “win” the Miami Beach home of your dreams.