10 Offers! NOW WHAT?

In today’s competitive Market, it is very common to receive multiple offers on your home. However, not all offers are good offers and it is my job as your Realtor to help you understand the terms and contingencies associated with each offer you receive so that you may make an educated decision when you accept an offer. The highest price is not always the best offer. For instance: if an offer is financed, it will need to appraise to satisfy the value to the lender. If it comes in under value, have the buyers agreed in advance to bring in additional money for a down payment to fill the gap? If not, the buyer could walk away from the transaction, and starting over for you, as a seller is not fun. Are the buyers asking for an inspection, or are they willing to conduct a “pre inspection” before submitting an offer? Is this an all cash offer? Has the buyer shown you that they actually have the cash to close the transaction , or are they relying on other funds? Is this offer contingent on the buyer needing to sell their current home? Are the buyers willing to be flexible on a closing date to accommodate your needs as a seller? These are just a few of the variables to consider when reviewing offers.

If you are considering selling your current home, let’s talk about all of the things to look for when reviewing a contract.