Here are five tips to help you handle multiple offers in this hot market.
In today’s market, we’re seeing more multiple-offer situations than ever. If you’re selling your home, this is fantastic news, but you still need to figure out how to handle all those offers coming your way. Today I’ll share a few key tips to help you deal with the onslaught of offers you’ll face as a seller in this market:
1. Work with an experienced Realtor. Be sure that your agent understands what’s happening in the market and has dealt with multiple-offer situations before.
2. Set a deadline. When you make your listing, set a deadline for when you want to receive offers.
3. Treat people with respect. If the first offer you accept backs out, you’ll be in trouble. Treat people with respect so that you can have potential backup options.
“You need to know how to handle all the offers coming your way.”
4. Make a spreadsheet. Spreadsheets can help you organize offers by closing dates and what your net proceeds would be if you accepted each one. Other important details to note include whether the offer is a cash offer and which lender the buyer is working with if not.
5. Price your home correctly. If you price your home according to the market, you’ll make more money and have a more enjoyable selling experience. A grossly overpriced home may not receive multiple offers, and you may have to reduce the price to draw buyers to your listing.
If you have further questions about today’s topic or anything else to do with real estate, don’t hesitate to reach out to me. I’d love to help you.