Sellers: How to Decide Between Multiple Offers

by Kevin Gilroy on November 14, 2015

in Latest News

This article will bring a little food for thought, regarding the subject, to the table.
Sellers: How to Decide Between Multiple Offers

Thu, November 12, 2015

What a splendid dilemma! You’ve received multiple offers on your property. Which one should you choose? How do you decide?  It’s not always the highest one.

Here are just some of the areas your agent could ask you to pay particularly close attention to as you’re weighing the options.

1. Do the math.
This goes beyond simply calculating the dollar difference between the various offer prices. Before you do that, be sure to do all the math. Subtract things like closing costs, fees and potential repairs to determine the net proceeds of each offer. The small stuff can add up!

2. Consider the financing.
Can the buyer provide proof from the bank that there are funds to back the offer? Your agent can help verify this – and help you understand the terms of the buyer’s financing.

3. Motivation.
Do the buyers have a baby-sitting parent in the neighborhood? A new job just around the corner? Buyers with extra motivation to purchase your home are less likely to press for concessions and more likely to work harder to close the deal. Some buyers even include a personal letter with their offer to explain why they want the home. These letters can be particularly helpful in multiple-offer situations.

4. Timeline.
Note the closing date each offer proposes. You’ll want a closing date that best meets your needs. You can always counter a closing date, too, if the best offer doesn’t quite meet your timeline.

Weighing the pros and cons of each offer can be tricky. An experienced agent can help you clarify, calculate and secure the very best deal for you. 

 

NOTE: We we help you with all of the points to consider. We’ll highlight  the Pros & Cons of each offer. There are many factors that will present themselves in the offers. These issues cannot be predicted. Our experience in How to Decide Between Multiple Offers will make the job much easier for you.

 

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Post by Kevin Gilroy

Kevin has written 27 articles.

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