What Sellers Should Consider When Reviewing Offers
You listed your home for sale and now you have multiple offers in front of you to review with your agent. Here are some things to consider before deciding on the best offer for your home.
While everyone wants to get the most for their home, be sure to review all of the terms with every contract. It may not be the best offer just because the price is higher than the others.
Are the buyers putting a substantial amount of money down on the purchase? If not, will there be anticipated appraisal issues with their high LTV mortgage?
Is the buyer using a lender who is able to meet all contract deadlines? Make sure your listing agent contacts the lender to get a sense of just how far along in the loan process this buyer is.
Is the projected closing date in sync with your timeline?
Is the buyer waiving inspection or appraisal contingencies? If not, are you concerned about the condition or value of your home?
Of course, everyone hopes for a cash deal with appraisal contingencies waived. These are a little scarce but there are folks out there who have cash to invest in real estate. If you are lucky enough to attract a cash buyer, they may not be the highest offer, but typically, their transaction sail through quickly and without incident.
There are many things to consider when reviewing offers on your home. Your listing agent can guide you through the process. Listen to their advice and make an informed decision based on the facts.
Aspen Lane Real Estate