You may think that having to deal with multiple offers on your home is a wonderful problem. After all, there are so many buyers clamoring to purchase your property!
The challenge, however, is picking the best offer – and that isn't always the one with the highest price.
Most offers come with conditions, such as "conditional on securing appropriate financing" or "conditional on the sale of our current property." You have to consider both the price and the conditions when choosing which offer to accept.
There are other considerations, too. What if someone makes a great offer on your home, but they don't have a pre-approved mortgage and they haven’t put their current home on the market? That kind of offer is risky because it is more likely than an unconditional offer to fall through. Also, sometimes multiple offers will scare a potential buyer away, because they are not the type of person that likes to compete.
So there's a lot to think about when you're in the seemingly enviable position of dealing with multiple offers. How do you select the right one? The answer is to have a good REALTOR® by your side to help you make the right decision!
Want more tips on finding and buying your next dream home? Call today. .
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