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Are you ready for Multiple Offers on your Home?

Blog by Diane Cardoso | March 8th, 2017

Vancouer's Spring real estate market is right around the corner!  Our housing inventory and is low and there are lots of Buyers roaming around.  If you have your home for sale then some of you may experience receiving multiple offers on your home. Remember, your goal as a seller is to accept the ONE offer that best fits your needs. This is the time to leave emotions aside and logically weigh all offers from a realistic perspective. Be ready, objective and consider these items when the offers come in:

Who is presenting the best financing option? The more solid the financing, the more likely you are to have a smooth transaction. 

Terms of the Offer:
Consider all details of each offer. Does the closing date complement your needs? Does the offer satisfy your asking price? Are the inclusions and exclusions ones that you are willing to accept? Perhaps the buyers are offering you full price but they need to close in 30 days. These details should be carefully considered when determining the best offer for you.

Prepare a Multiple offer Checklist:

  • Go over all offers in detail with your agent. You trust your Realtor, so rely on him or her to educate and guide you throughout the process. After all, that is why they are there.
  • Create your own checklist with pros and cons. Seeing these items on paper can seem so simple, yet it helps you reach a conclusion you're confident about.
  • Make sure you are prepared for the what-ifs in the deal. Weigh scenarios that seem likely or could happen with each particular offer.
  • Educate yourself. This is a legal transaction, so if you don't understand certain terms or terminology, don't sign the offer until you do. Make sure you have ALL of your questions answered before signing – you don't want to have any regrets later. Your agent can help break things down for you.
  • If you simply don't feel good about an offer, make sure you've pinpointed why that feeling is there. 
  • Be reasonable and fair.
  • Leave emotions out of the offer as best you can. Yes, you are selling something that is very personal to you but remember why you are selling.

Just give me a call if you would like some helpful hints on how to make your multiple offer deals be less stressful! 

Courtesy of: Carriann Johnson, interior designer and TV personality