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Whats The Best Way To Deal With Multiple Offers
Dated: September 29 2020
Every home seller should know how to deal with multiple offers these days.
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Today I’m here to answer the question, “How do I select the best offer for my house?” I’ll show you how to handle multiple-offer situations as a home seller, especially in a competitive marketplace.
The first thing I always tell my sellers is to consider what they want out of a home sale. Obviously, they want to move on, but what else is important? Do you want a certain price? Convenience? A quick closing? All of these will factor into your process and I encourage all of my sellers to consider what’s most important to them.
When offers start to come in, the first aspect you should consider is the financial strength of the offer. Of course price is important, but there’s more to the equation. You also have to make sure the buyer is able to continue on with the loan. If they don’t have a pre-qualification letter or proof of funds, it’s never certain that they’re a reliable buyer.
Sellers should consider what's truly crucial to them in an offer.
The overall strength of the offer is something else to consider. How much are they putting in for a down payment? The more skin they have in the game, the more they’re invested in closing.
Finally, you have to consider whether the buyer is going to ask for closing costs to be included. Buyers in certain price ranges are going to expect it and include that in their offer.
If you have any questions, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.