Imagine you’ve received multiple offers on your home, this is an exciting but crucial moment in the selling process. While the highest bid may seem like the obvious choice, there are several factors to consider when handling multiple offers.
- Evaluate Beyond Price: While a high offer is enticing, it’s important to consider other terms of the offer. Take into account all-cash offers, closing cost concessions, contingencies, inspections, down payment, and earnest money deposit.
- Consider the Terms: Look at the terms of each competitive offer and weigh them against the price. Sometimes, a slightly lower offer with favorable terms can be more beneficial than a higher offer with less favorable terms.
- Decision Time: Once you’ve carefully considered each competitive offer, it’s time to make a decision. You have a few options:
- Accept the Best Offer: If one offer stands out as the most favorable, you can accept it and move forward with the home sale.
- Invite Counteroffers: Let all interested parties know about the multiple offers and invite them to submit their “best and highest” counteroffer. This can lead to improved terms and a higher price.
- Negotiate and Reject: Negotiate with the best offer while rejecting the others. This allows you to potentially improve the terms of the leading offer.
- Reject All Offers: If none of the offers meet your expectations, you have the option to reject them. This decision should be made after careful consideration.
Ready to sell? Know your home’s worth, click here.
Homes for sale in Carmel Valley click here.
Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
