As a home seller, you probably think that a bidding war or a multiple offer situation is a good thing. It’s a nice position to be in as a seller, but you still have a lot of work to do. It’s not as simple as picking the highest cash offer and moving on.
Now, not all homes are going to get multiple offers, but we are seeing multiple offers cropping up in the lower-priced homes. Inventory is low in the lower price brackets, so buyers are having to compete for properties.
“Cash offers are not always your best choice.”
So, is the highest cash offer always your best offer? Not necessarily. It all depends on what you want. If you need to sell quickly, then you may want to go with a lower cash offer in order to get around financing delays.
A cash offer is not always better than a financed offer. Cash offers are usually a little lower than financed offers, but they do allow you to sell your home faster. If you need cash quickly, this might work, but sometimes a financed offer will be better for you.
Selecting the right offer is easiest when you talk to your real estate professional and let them know of your goals and intentions for your home sale. We want to identify your goals so that we can create the best strategy to respond to multiple offers when they do arise.
In the next video, we’ll address how to handle multiple offer situations as a buyer, so stay tuned!
If you have any questions or concerns about this video or the content covered in it, please don’t hesitate to contact me!