In this white-hot real estate market, it is likely that putting your home up for sale will yield multiple offers. But how do you go about picking the best one? Price isn’t the only factor these days. Here are some things to consider when fielding offers on your home so you can pick the right offer - for you.
Figure Out Your Priorities
Talk with your real estate agent and determine which factors are the most important to you when selling your home. You might be moving because you have a new job, or you are about to start a family. In these instances, time will be a top priority so your best offer will likely be one where you can negotiate a closing date that aligns with your timeline.
Review Contingencies
Many offers placed on a home will include contingencies that have been penciled in by the buyer. The most common conditions are a home inspection, buyer financing, and property appraisal. Some contingencies are higher risk for sellers than others, so look out for buyers who are putting an offer forward that is contingent upon selling their existing home.
Don’t Rule Out Your First Offer
Many people like to rule out the first offer they receive on their home because they want to “test” the market and see if they can do better. This is not necessarily true. The best thing to do is seek the advice of your experienced real estate agent who can better guide you about whether a better offer could come with time.
Picking the right offer looks different for everyone. Your home may have a limited buyer pool because of a quirky element in your home. You may have already found your next home and cannot pay two mortgages at once. If you are looking to sell your home and want to make sure you are selecting the best offer for your home, please reach out to us. We’d love to help you accept the best offer possible for your home.
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