When listing your house for sale, have you considered what you might do if you receive multiple offers? Although it may be tempting to snatch up the highest price, money is not the only factor. In fact, high-priced bids could be masking important elements woven into the offer. Here’s the deal:
Many aspects can influence your success in the sale of your home. Rather than being blinded by flashy dollar signs, consider circumstances that could prevent the deal from being done, such as whether or not the potential buyer has the funds to back the bid, contingencies that could prove costly, time constraints regarding closing, or other scenarios that could make or break your home-selling experience.
Full disclosure: Although it’s never a good idea to disclose the value of multiple offers, it is good conduct to inform potential buyers when multiple offers are on the table. Knowing other buyers are setting their sights on the same property could prompt additional prospects to come in with their best offer, or could inflate the price being made in the offers by creating a bidding war.
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