SELLING YOUR HOME
Fielding Offers & Negotiating
Week Four: Fielding Offers & Negotiating
Your home is live and on the local market. With the lack of inventory and high buyer demand, you will likely receive numerous offers within the first days of listing. The last 3 homes we listed were under contract within 72 hours. The importance of completing preparations to list your home cannot be emphasized enough. Completing your inspections, repairs, and preparations will enable you to close your sale in the intensified timeline you will experience.
This is the time to rely on your broker. Your broker will review offers and compile a selection of top offers for you. Your broker will negotiate on your behalf. Communicating with one another is of utmost importance in this stage.
Today we outline what happens when fielding offers and negotiating a sale.
1, Fielding Offers
The highest value offer isn’t necessarily your first choice. Many factors affect an accepted offer. Some examples:
– What is your overall timeline? Does the closing date work to your benefit?
– Do you need to rent back for a period?
– Is it a cash offer or finance?
– What is the financial health of your buyer to ensure that they close the deal?
– What contingencies is the buyer requesting?
– Is there an appraisal contingency? With most houses now going over list price, do your buyers have enough liquidity to offset the difference in value?
2, Negotiating
Trust your broker.
You chose your realtor to work on your behalf. Now rely on your broker to close the deal keeping your best interests in mind.
Throughout the entire listing process, the importance of selecting the right broker has been emphasized. As they negotiate the sale of your home, you will see why partnering with them is so important to the process. Utilizing their understanding of the local market and their professional relationships, they will be able to maximize the profits on the sale of your home and deliver you the best offer.
MARKET UPDATES
READ:
INMAN: 44% of Millennials Would Buy a Home From Photos Alone, Sight Unseen
