Learn when to accept an offer and avoid waiting too long with these essential tips based on proven experience
Deciding when to accept an offer on your home can be nerve-wracking. Are you sure the price and terms are correct? Should you wait for multiple offers? Or should you take the first offer?
These questions can be stressful to handle. However, with proper planning and smart strategy, you’ll handle offers with grace under pressure. Here’s a quick and easy guide to handling offers based on my personal experience:
1. Act quickly when you receive a strong offer. When I sold my own home recently, I received multiple offers within an hour, but I didn’t accept the first one. Instead, I accepted the first one that met my expectations and terms. In a competitive market, a strong early offer might be your best option. If it meets your expectations, don’t hesitate to accept it.
2. Understand the market and your home’s value. Knowing your home’s value and market conditions is crucial. I had a clear idea of my home’s worth and the market competition, which allowed me to confidently accept the right offer without waiting for a review date.
“If I can handle the pressure of managing offers, so can you.”
3. Evaluate offer terms beyond just the price. When I sold my home, the buyer waived financing, offered $150,000 over the asking price, waived the appraisal, and made a significant earnest money deposit. These terms made the offer very attractive. It’s important to consider the full package when evaluating offers.
4. Consider the risks of waiting. Waiting for a review date might result in less favorable offers. In my case, waiting could have led to lower offers or less favorable terms. Weigh the potential benefits of waiting against the certainty of a strong initial offer.
5. Ensure your home is in top condition before listing. I completed a pre-inspection, did all necessary maintenance, staged the home, and ensured it looked its best. This preparation helped attract strong offers quickly. My house sold for $150,000 over the highest comp in the neighborhood.
Deciding when to accept an offer can come in a breeze with the right market knowledge and preparation. If I can handle the pressure of managing offers, so can you. I’m here to help you ease that pressure and prepare for greater success. Contact me via email or phone to get started!