Is the highest bid the best bid?
Published | Written by Starsky Owen
An offer on your home moves you one step closer to the finish line in the selling process. And if you’re lucky, you’ll receive multiple offers from a range of bidders.
The highest bid is the obvious choice, right? Not necessarily. Here’s what to consider before moving forward on an offer:
Focus on your priorities. Take this step early, before any offers roll in. Make a list of what’s most important to you in the sale of your home, like a tight moving deadline or your financial needs. Are there any requests that would make an offer a deal breaker for you?
Review the contingencies. Now that you’ve established your top priorities, determine your bidders’ conditions for the sale. Common contingencies for potential buyers include a property appraisal and a home inspection.
Compare earnest money amounts. People who are interested in purchasing your home need to show you that their offer is made in good faith. An earnest money deposit proves the buyer is serious about the transaction. The more money they put into the deposit, the more likely they are to be able to back it up with financing.
Be aware of unusual requests. A bidder could ask you to make unnecessary repairs or leave all your appliances in the home for them. Their offer might be high, but if something unusual interferes with your top priorities, it might be best to move on to another option. Together, we’ll carefully read over their requests and discuss any questions or concerns you may have.
Are you ready to get a great offer on your home? Get in touch today.
Keep reading other bits of knowledge from our team.
Have a question about this article or want to learn more?