Here’s how to handle a multiple-offer situation as a seller.
It’s a home seller’s dream to get multiple offers. This is a situation where you get your terms and your price. If you’re part of this lucky group, congratulations! Here’s what you should do to maximize your price.
First, respond to all offers: Let each buyer and buyer’s agent know you have multiple offers and would like them to make their highest and best offer by a certain date. Next, state anything in the offer that is important to you, such as a specific closing date or being able to rent the home back for a short time while you search for your new place.
Don’t take anything personally. Don’t reject lowball offers, but don’t accept them either. Ask for their highest and best offer, too. Remember to not get caught up in your emotions. Treat this as a business decision and not a personal one.
Finally, make sure you avoid being too greedy. Sometimes, sellers continue to press buyers well after their highest and best offer has been submitted, forgetting that the buyer can just walk away from the deal.
If you have any questions about selling a home, buying a home, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.