As a home seller, how do you choose between multiple offers for your home? Today I’ll walk you through my process.
When home sellers receive multiple offers for their listing, this is great news. It means many buyers are interested in your home and it increases the likelihood of you getting a good price for it. However, a huge influx of offers can be difficult to manage, so what’s the trick to dealing with these situations?
Well, as your Realtor, I would first give you all the information regarding each offer, and we’d write down the pros and cons to each one. Remember that the highest offer isn’t always the best one—especially if we think there might be issues with the appraisal.
We’ll then work to tighten up all the contingency time frames in the offer. Some buyers ask for longer contingencies when that’s not necessarily going to work in their favor.
“Remember that the highest offer isn’t always the best one.”
After that, I’ll call the buyer’s lender to see if their offer will be financed, and to make sure that they’ve collected all the proper documents from the buyer. That way, we can be sure there won’t be any issues in the file.
On the note of financing, is a cash buyer better than a financed one? Not always. Many times, cash buyers will come in with lower prices because they assume that a seller will always default to a cash buyer. That’s why we’ll consider all the terms of each offer to make sure that you’re getting the best one that will close on time.
If you have any questions about multiple-offer situations or about selling your home in general, just give me a call at 702-686-2695 or send me an email at MaryKayBeckman@Gmail.com. I’d be happy to help!