Most sellers are usually excited to see offers on the table when selling their homes. The most traffic you normally get for your showings is within the first 2 weeks your home is listed online. You might think it is a slam dunk decision when an offer is received, but money is not always the rule of thumb. Offers that come close to listing price are usually a very good offer but sometimes there are other factors that come into play such as:
- Closing date: If your new home is being built you might want a longer closing date.
- New job: Sometimes you may need a fast closing.
- Conditional offer: If your buyer has to sell their home you can decide if you will accept the offer or not depending on your circumstances or how long your home has been listed.
- Cash offer: If your buyer has sold their home or has come in with only financial and inspections needed, you might decide on this as a better decision.
As the saying goes – usually your first offer is your best offer! You don’t want to risk losing a buyer when you think a better offer will be coming down the road. Here are some other things to consider:
- Timing: How long has your home been on the market? If your home has just listed and you have a low-ball offer then you might consider to see if other offers come in.
- Lots of interest: if your agent knows that a couple of offers are coming in, this may encourage other buyers to come in close to list price and sometimes over list price.
- Buyer’s position: Do they have a house to sell? Is their closing date close to yours? Are they pre-approved for a mortgage yet?
No matter what offers you receive each one will come in with different conditions, closing dates or price. The decision is yours to decide what is best for you. This is where you need to have a real estate team that can look into each scenario and negotiate on your behalf.
Our Anne Winch Ottawa Real Estate and Staging Team has always been able to advise our clients knowing that we always have your best interest in mind. Remember that compromise is usually needed on both sides to secure the deal. Always keep your real estate team in the loop. In order to negotiate properly, we need to know if you are willing to come down in price a bit or if you can extend your closing date to accommodate both buyer and seller.
Remember that our Team is here to help you buy, sell or stage your home and we pride ourselves with keeping the line of communication open when you are getting offers on your home. Just remember not every home that is sold is based on money alone. Let us help you get your home listed so those offers can come rolling in!