How to Handle Multiple Offers When Selling Your Sarasota Florida Home
If you’re selling your home, one of the most exciting moments is when you receive an offer. However, this can become stressful and overwhelming when you have multiple offers. With more than one offer, you need to determine which offer is the best one to choose.
Speak with Your Real Estate Agent About Each Offer
If you’re working with a real estate agent, talk to them about each of the offers. Let them explain the terms of each offer and how those terms could impact the sale. Some terms including how the home will be paid for and what the seller wants to be included in the sale.
If you don’t have a real estate agent, you need to carefully read through each offer to determine exactly what the buyer is offering and what they’re asking for. You have to go through each section of the offer to understand what the offer means.
Look at The Terms of Each Offer
Some home buyers will make an offer for the house, as is. Others will want to make contingencies. They may want repairs made, furniture included in the sales price or for the seller to pay certain fees. If you are not willing to do these things you can either refuse the offer or you may decide to make a counter-offer.
The terms will also include how the person will pay for their new home. Most home buyers will need a mortgage. However, some may have sold their old home and may be paying cash. If the buyer is using a mortgage, a person who has a pre-approved loan is a better choice than someone who has only pre-qualified.
Look at the Price Offered
Price is usually the first thing a seller looks at. However, a high price can be deceptive. A high price with bad terms isn’t a great offer. You may find that the terms can significantly reduce the amount of money you’ll receive. That’s why it’s important to understand the terms before looking at the price.
A good offer will be one that gives you the best price for your home with the least amount of extra work or effort. You should know exactly which terms you’re willing to accept. Unfortunately, you can’t know which contingencies the buyers will ask for until they make an offer. At that time, you can decide which you are willing to accept and at what price. Then you can decide which is the best offer for you.