No doubt it is exciting to receive multiple offers on your home, but when it comes time to actually accept an offer it’s not uncommon for sellers to feel torn or unclear as to which is the best offer for them (it can be different for every seller).
Home offers are hard to interpret so I wanted to offer some helpful tips for when you find yourself in a multiple offer situation (perhaps a Part I?):
—Offer language tells a lot 📝
A purchase offer clearly indicates a buyer’s intentions (along with the more obvious details like if they are qualified, ready to purchase and have a lender in place). In a pool of offers, a realtor with the right skills will identify those that are authentic and well considered.
—The buyer’s agents’ communication style 🗣️
When you sit down with your agent always ask about their take on the agent representing the other party. Communication style, what they say or don’t say, can say a lot about how the transaction can go. Keep your eye out for the agent that will ask well-constructed questions, will make sure to put forth a well-written offer, and educate the buyer about the terms discussed.
—Buyer’s past experience in the market 🏡
Have they been looking for a week or 3 months? Have they had issues with their past offers? Paying attention to details like past contracts, finances, and people involved in the purchase decision gives you a more robust understanding the offer and will help set expectations moving forward.
Did you find these tips helpful? Let me know if I should make a Part II.
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