Should You Choose the Best Terms or the Highest Offer When Selling?

Want to sell your home? Get a FREE home value report  Want to buy a home? Search all homes for sale If you’re selling your home and you have multiple offers on your property - congratulations! However, don’t get too excited just yet. You still have some work to do in choosing the most beneficial offer for you and your family. Simple logic might tell you to choose an offer with the highest dollar amount, but you cannot forget to look at the terms involved. Someone might be willing to pay you more for your home, but offer less in negotiations. Remember that cash buyers always expect to pay a little less because they don’t have to run through the gamut of financing. Consider the contingencies on the offer. Remember that a contingency always creates an opportunity for the buyer to walk away, so be careful moving forward with a buyer who has too many contingencies. The fewer contingencies, the better off you are as a seller. Generally speaking, your first offer is your best offer. It’s important to shop around, but don’t wait too long because those buyers will eventually just look elsewhere. Respect the fact that buyers have committed to your home and made an offer on it. When combing through offers on your home, it might be a good idea to work with a real estate professional to determine which offer will benefit you the most. Just don’t forget that terms can sometimes outweigh a larger offer on your home. Money isn’t always the determining factor in a sale, sometimes it’s simply convenience. If you have any questions about this, please don’t hesitate to contact us. We know it’s going to be a busy spring selling season, so contact us soon.