Take Your First Offer Seriously

Thinking of selling your home? Remember: "A bird in the hand is worth two in the bush." That old truism is especially relevant when talking about home-purchase offers today. No matter what the real estate market, it is often the first offer that turns out to be the best one the seller will get.


Consider your first offer seriously and treat it with special care. Here are some solid reasons why:

An early offer doesn't necessarily mean buyers are lining up to follow suit. It could just mean that your home meets the needs or preferences of that one particular buyer who made the offer.

Your home will get the most interest from buyers just after it goes on the market. The longer it stays on the market, the more "desperate" buyers will think you are, prompting lower and lower offers -- or none at all.

Even if the first offer is thousands lower than your list price, consider carefully whether it might be enough -- in terms of price and contract terms -- before making a counteroffer or rejecting it out of hand. After all, the longer your home is on the market, the more it costs you in mortgage payments, taxes, insurance, upkeep and sheer inconvenience.

If you simply can't accept the offered price and contract terms, start negotiations by making a counteroffer, being as flexible with the terms as possible. It isn't uncommon for buyers to offer a price below what they are truly willing to pay, sometimes much below, just to see if they can buy under market. An offer indicates serious interest in your home -- don't underestimate that and don't take it for granted, either.

Consider the chances of the contract going to closing/settlement. Buyers who are pre-approved for a mortgage have demonstrated the financial ability to buy your home; give them extra points as you tally up the pros and cons of their offer.

Most importantly, we can put our expertise to work for you when it comes time to negotiate with potential buyers. Those are just a few of the services we provide our clients. We hope you'll take advantage of them!
 
If you are starting your search to buy now or in the future, why not search like a realtor. Sign up for listing book, a free service I provide with no strings attached. Here is the link: http://a107021.listingbook.com/.


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