Five Things Home Sellers Must Know When it Comes to Responding to Offers
Other than the price, what other factors must you find out before accepting an offer on your home?
A very common question we get asked from homeowners selling a home with us - How should I respond to offers?
Below are five pointers on what you need to consider when deciding whether it’s an offer too good to refuse or one to walk away from.
Firstly, an accurately priced and well marketed property usually get offers quickly.
The ideal scenario is people want your property so much they offer the asking price. In this current market this is often the case.
If buyers are competing for your property, this will drive the price up even more.
However, there are five factors to consider aside from which buyer is willing to pay the most.
1. Their Situation - A good agent will give you as much information as possible about the people making the offer. Do they have a property to sell? Would they be in a chain if they did?
2. Do they have a mortgage offer already approved? The ideal buyer is a cash one, but these are rare. This ‘money already there’ scenario often sees the whole process take far less time to complete.
3. As a seller in this current market you are in a strong position, but always treat the buyer the way you like to be treated. A little respect goes a long way with both parties involved.
4. The ‘offer’ part of the property process is where a good estate agent proves their value. So, you should have a relationship with them which means you are in constant contact and that you feel totally informed of what’s happening. They are negotiating on YOUR behalf.
5. Remember that accepting an offer is just another part of the process and there are a few more hurdles to overcome in terms of surveys and conveyancing. Again, a good estate agent will help you navigate through, from selling to sold.
If you would like a no-pressure, expert assessment on what your property could sell for in this current market contact us today.