How To Prepare For The Home Buying Offer In A Seller’s Market In
Selling your house in during a seller’s market? You’re probably bracing for offers to come flooding in soon. But what do you do once you’ve got one in hand? Do you jump at the first chance, or is there more to it?
When offers start rolling in during a seller’s market, it pays to be ready. Here’s a down-to-earth guide on how to prep for that all-important home buying offer in …
First, decide on the criteria that you want in the offer.
Ask yourself what’s most important to you. For example, do you want to sell quickly and get a fast possession date? Or maybe you want to get a high selling price. Yes, both of those might be important to you but one of them will be more important, so determine which is most important for you.
Second, think about what you want for a bottom-line price.
In a seller’s market, you may get a higher price than your bottom-line price but it’s also very common for property owners to accidentally over-estimate the price they think they’ll get on their house. Therefore, determine your bottom-line price. Chances are, you’ll get an offer somewhere between your bottom-line price and your preferred price.
Third, think about the possession date you want and consider any flexibility you have.
You might want to move right away, for example, but you could potentially open yourself up to better offers if you don’t press for a specific possession date but instead find out what buyers are willing to offer.
Fourth,remember that you’re still the seller.
Even though it’s a seller’s market, remember that the buyer is still the one with the money and they could decide to buy a different house. Decide which terms and conditions are absolutely imperative for you and which ones you’re more flexible on. That way, if a buyer has all the money and no contingencies and is willing to close within your preferred timeline, you can work with any conditions they may have.
Summary
In a seller’s market, it’s often thought that the seller has the advantage but there are times when you might want to sell now instead of putting your house up for sale, cleaning it up, and seeing what buyers will offer.