Some Highlights: Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available! Housing
REMAX Own It Deciding Between Multiple Offers
RE/MAX Own It – Deciding Between Multiple Offers
Sometimes you’re handed more choices than you’d expect—such as multiple offers—but the best choice isn’t always clear. You need to take a much closer look to see the real differences.
When you have multiple offers on your home, there are several areas to consider. Check out three important tips, below.
1 – Do the Math
By “do the math,” we don’t simply mean: look at the price. Subtract things like closing costs and fees to determine the net proceeds of the offer.
2 – Look at Financing
Have the buyers been approved for a loan to purchase the home at your price point? Also, you may want to consider the level of motivation. For exmaple, you may find out from the buyer that a relative lives in the neighbourhood, or perhaps there’s a new job just around the corner. These buyers may be more willing to make concessions to close the deal.
3 – What’s the Timeline?
Check the closing date of each offer to see which is best for you.
Keep these factors in mind, and the winner will eventually become clear. For more tips for selling your home, contact your local RE/MAX agent.
Raul Acuña - Raul has been in the Real Estate Industry since 2005. Raul began working at an REO brokerage before opening his own REO company in 2010. Raul has a business degree from Cal Poly Pomona, ....
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