Handling Multiple Offers On Your Home
This is a common question for homeowners who want to sell their property in a competitive market. There are different strategies for how to handle multiple offers on your home, depending on your goals and preferences.
Here are some tips in managing multiple offers for your home:
Consider the actual value of your home and compare it with the offers you receive. Don’t just look at the price, but also the terms and conditions of each offer.
If an offer is close to or above your asking price and has fewer contingencies, it might be more attractive than a higher offer that has more strings attached.
If an offer is paying in cash, it might be more appealing than an offer that requires a loan, as it can bypass some of the steps and risks involved in financing.
Look keenly at the contingencies that each offer has, such as inspection, appraisal, financing, or sale of another home. These can affect the likelihood and timeline of closing the deal.
Review the closing periods that each offer proposes. Some buyers might want to close as soon as possible, while others might need more time to arrange their move or sell their current home. Choose the one that suits your schedule and needs.
Consider any buyer extras that might sweeten the deal, such as paying for some of the closing costs, offering a rent-back option, or writing a personal letter to express their interest and appreciation for your home.
If you have multiple offers that are similar in price and terms, you can reveal them to the other buyers and ask them to submit their best and final offers. This can create a bidding war and drive up the price and terms in your favor.
Don’t be greedy or unrealistic when handling multiple offers. If you counter too high or too often, you might lose some of the interested buyers or offend them with your demands.
If you're selling your home and you want to cut off the hassle so you have more time doing what you love to do then feel free to reach out to us. Just dial 866-404-3699 and we will give you a very compelling offer for as little as 9 minutes. If for some reason we didn't catch your call on time, you can fillout the form on our website at www.foxyhomebuyer.com and we'll reach out to you as soon as possible. With our Guaranteed Sold program we can give you our Foxy Guarantee that you home will be sold or we'll help you find a better way to sell.
Keep it Foxy,
Sales Manager & Founder