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Own It: Deciding Between Multiple Offers

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(RE/MAX Blog)- By Carriann Johnson, interior designer and TV personality

It's a great moment! The housing market is on fire in several states, and many of you may receive multiple offers on your home. Remember, your goal as a seller is to accept the ONE offer that best fits your needs. This is the time to leave emotions aside and logically weigh all offers from a realistic perspective. Choosing the best offer will be less challenging if you consider these items:

Who is presenting the best financing option? The more solid the financing, the more likely you are to have a smooth transaction. When you arrive at the closing table, you want your transaction to go off without any unexpected hiccups that can arise when buyers are not properly qualified or a lender doesn't prove to be solid.

Terms of the Offer
Consider all details of your offer. Does the closing date complement your needs? Does the offer satisfy your asking price? Are the inclusions and exclusions ones that you are willing to accept? Perhaps the buyers are offering you full price plus closing costs but they need to close in 30 days. Another offer may give you 45-60 days to close but they are requesting you pay for closing costs. These details should be carefully considered when determining the best offer for you.

Consider Using My Checklist

  • Go over all offers in detail with your agent. You trust your Realtor, so rely on him or her to educate and guide you throughout the process. After all, that is why they are there.

  • Create your own checklist with pros and cons. Seeing these items on paper can seem so simple, yet it helps you reach a conclusion you're confident about.

  • Make sure you are prepared for the what-ifs in the deal. Weigh scenarios that seem likely or could happen with each particular offer.

  • Educate yourself. This is a legal transaction, so if you don't understand certain terms or terminology, don't sign the offer until you do. Make sure you have ALL of your questions answered before signing – you don't want to have any regrets later. Your agent can help break things down for you.

  • If you simply don't feel good about an offer, make sure you've pinpointed why that feeling is there. Having peace – about anything in life – is priceless.

  • Be reasonable and fair.

  • Leave emotions out of the offer as best you can. Yes, you are selling something that is very personal to you but remember why you are selling.

Keep these items in mind when receiving multiple offers on your home, and you'll be able to reach a decision with confidence!

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