Deciding Which Offer To Accept From Multiple Offers
You must admit the housing market is booming right now and this means that many folks are getting more than one offer on their house. Knowing which offer you should accept can sometimes be a daunting task. If you do get multiple offers you may think that opting for the highest bidder is the route to go, but not in all cases is this true. Below are a few tips for making sense of it all and deciding which home offer is best for you and your family.
- If you want your home to be sold to a family member but their offer is just too low as compared to someone who is going to use your house as an investment for example, try coming back with a counter offer. Just because you get a really high offer from someone doesn't mean you have to accept that offer. If you don't want to see your home be flipped for example, don't accept the offer from that person. If you can afford to do so, accept a little bit of a lower offer to keep the house in the family.
- If you have a potential buyer make an offer with contingencies it may be best to skip over that person. You don't want to get involved in things such as waiting for a potential buyers house to sell before they can purchase yours. In most cases it will serve you best, if you have more than one offer, to skip right over those with contingencies.
- If you have a buyer that makes a good offer on your house but they cannot close for a month or two, pick the one that can close more quickly if that meets your needs.
- Just because someone makes a really high offer on your house doesn't mean they are the ones who need to win the bid war. Many times folks that make very high offers may back out in the end leaving you high and dry. Be careful not to just accept the highest bid and not look at any of the rest.
Hopefully these ideas on how to decide which offer to accept when you have multiple offers on your home will make things easier for you. Don't worry too much about it, after all multiple offers is a good thing!
Courtesy of Huntsville AL Real Estate Broker Mike Manosky.