If you are selling your home and receiving multiple offers, that’s a good thing. However, you need to be able to tell which offer is best for you. It goes way deeper than just accepting the highest offer.
When people offer high, sometimes over asking price, they tend to put little money down and can have iffy financing. These are red flags signaling you should not accept the offer. You don’t want to be in the home and have the buyer back out a week before the home closes.
You should always look at the type of financing, how much money is being put down, and the terms that they are offering. Selecting the right offer depends on the circumstances. If a cash offer and mortgage offer are nearly identical, take the cash offer. However, if a cash offer is significantly lower and a mortgage offer has strong financing, take the mortgage offer.
Obviously you want to make the most money possible for your home and actually get to the close. One thing I want to point out is that a qualified professional can help you pick the right offer. You want to make sure your agent is experienced and is helping you for the right reasons. You need someone to explain the terms to you and help you pick the best one to get the most money.
If you have any questions for us or you’re thinking about selling a home yourself, give us a call or send us an email. We look forward to hearing from you.