3 Tips for Handling Multiple-Offer Situations When Selling

Here are three tips for deciding between multiple offers when selling.

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In our ultra-competitive market, sellers are certainly seeing multiple offers on their homes. With so much flying at you, it can be difficult to choose the right one. Here are my top three tips for choosing the best offer:

1. Look over the price, closing date, and release of contingency date. The release of contingency date refers to the time when a buyer can no longer back out of the contract, providing assurance that the sale will move forward.

2. Look at the financing. You need to see either proof of funds from a cash buyer or a pre-approval letter from a financed buyer. You also want to know the down payment amount and type of loan they’re using. Those can all influence how they purchase and close on your home.

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 Motivation is everything in this market.

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3. Have your Realtor call the top two or three offers. It’s so important to work with an agent who can not only narrow down the top offers, but will also reach out to those agents to find out more about the buyers. They might learn who is more motivated for your house, and motivation is everything in this market. We’re always here to help you with any real estate-related questions and serve your needs. Feel free to reach out via phone or email at any time. We look forward to hearing from you soon.