By Darin Windham
Realtor-Key Finders Group
The highest offer isn’t necessarily the BEST offer. Let’s chat!
Consider the following scenarios:
Buyer 1 submits an offer right away. The price is aggressive and over the list price, but they ask you to respond within an hour. They also list a closing date that’s a little later than you were hoping for and include a few extra contingencies.
Buyer 2 submits an offer next. They offer the list price, and prior to submitting the offer their agent reaches out to you. They ask if you have a preferred closing date, and if anything else was important to you that they should consider. They give you 24 hours to respond.
Buyer 3 submits the final offer. Their price rolls in right in the middle of the other two (just slightly over the list price). They include an accelerator clause as part of their offer. It states they will pay up to X in order to beat out any other offers. They give you a few hours to respond to their offer. Their agent has already called three times to ask questions about a crooked fence post, and about the last time you had the furnace maintained.
Which offer do you choose?
Looking at the numbers only, the highest offer might look like a no-brainer. But what is often overlooked is everything that comes after an accepted offer. There are still contingencies to work through and financing and appraisals that have to be approved before you can close.
Your real estate agent takes all of the important factors and compares them side by side so you can weigh your options and decide how best to proceed.
You want to have a smooth transaction and successful home sale. Sometimes the best offer isn’t the highest one.
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