Selling your home can be a stressful process. That’s why it’s important to understand how to pick an offer. Picking the right offer isn’t just about getting the most money; other factors should also be considered. Here’s a guide to help you make your decision.
#1: Do Your Research
Before you start considering offers, take some time to do your research. Get familiar with market conditions and determine what price range makes sense for your home, given its location, condition, and features. You can do this by looking at comparable homes in the area that have recently sold with your real estate agent – who can provide insight into current market trends and conditions. Once you know what kind of offers to expect, you can evaluate them more closely. (For example, many buyers are asking for closing costs assistance from sellers again!)
#2: Pay Attention to Contingencies
When examining potential offers, pay close attention to any contingencies listed by the buyer. These contingencies may include:
- Whether or not they need to sell their current home before buying yours
- If they want an inspection done before closing (they usually do., but how long of an inspection period do they want?)
- Closing costs
- Financing (we will dive more into this below)
If these contingencies are too strict or unrealistic for your timeline or goals, then it may not be worth considering that offer.
#3: Look at Financing Options
In addition to researching contingencies, review the financing options being offered by potential buyers as well.
For instance, are they planning on taking out a mortgage loan? Or will they be paying cash?
If they are getting a mortgage, what loan type are they using? Who is the buyer’s lender? These things matter!
Depending on the condition of the home, not all loan types will be approved. Chat with us about whether or not we see any red flags when we tour your property.
Considering all these factors when choosing an offer can help ensure that it goes off without a hitch and ultimately results in a successful sale for both parties involved! We have your back and will walk you through all the pros and cons of each offer on your home and help you make the best decision for your life.
Ready to talk home selling? Start by contacting us!