Here’s what home sellers need to know after receiving multiple offers.
Receiving multiple offers as a seller is a great problem to have, but not everyone is equipped to deal with getting 10 offers at once. That’s why today I want to share my best tips for navigating a multiple-offer situation.
In this kind of market, the first thing you should do is work with a reliable Realtor. We typically list homes in the middle of the week, then give buyers the weekend to see the houses and make offers before deciding on one the next week. When you set this type of timeline, buyers will have time to think about their decision instead of making a snap offer. As a result, you’ll receive stronger offers.
Once you receive multiple offers, which is likely in this market, it helps to have a spreadsheet like the one we provide our clients. It breaks down offers in a few different ways.
Price is important, but it’s far from the only factor to consider. High offers with lots of contingencies aren’t as attractive as cash offers that are a little lower. There are a lot of little things inside offers that tell you how strong a buyer is, and our spreadsheet breaks this down segment by segment to help you make the best possible decision.
If you have any questions about handling multiple offers or real estate in general, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.