Multiple Offer Situations

Today’s market is a bit on the crazy side right now as we don’t have many homes for sale and buyer demand is high. Sellers receiving multiple offers seems to be the new normal. Here is some advice for sellers when they are considering more than one offer.

  • With multiple offers, sellers can ask for “best and final” from all buyers, accept one offer if it is outstanding, or pick one offer to negotiate with and set the others aside.
  • Be sure to note all the terms of the offers. Closing dates, down payments, financing, inspections, and type of loan can be impactful.
  • Be aware if an offer is significantly over asking; there is an increased risk the house will not appraise if the buyer is getting financing. Which means the buyer can’t get the amount needed to purchase.
  • Cash is king. Even if the offer is for a little less money, it might be worth accepting as you skip all the steps required with a loan. 
  • Offers should come with a pre-qualification or pre-approval letter from the buyers’ lenders or they are not worth considering. 

Offers have many variables so discussion with your listing agent on how to choose the right one for you is vital. If you are thinking of selling, contact me and put my 26 yrs. of experience to work for you. 603-526-4116; www.DonnaForest.com; Donna @DonnaForest.com

Real estate markets are local, and we have the real scoop on ours.  Better Homes & Gardens Real Estate - The Milestone Team


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