Do I Have To Accept The Highest Offer?
Over the years another common Real Estate question that we’ve been asked from our clients is “do I have to accept the highest offer on my home?”
If you’re getting ready to sell your home and are wondering which offer you should accept, this article will break down what you should look for in an offer.
How to Choose the Right Offer
Although you have the freedom to accept the highest offer on your home in Southern California, or elsewhere in the United States, the reality is that you should base your decision on which offer you ultimately choose on the following criteria:
- Is the buyer pre-qualified for a mortgage?
- Escrow time period.
- Contingencies the buyer is including with their offer like inspections, insurance, and financing.
- The earnest money the buyer is willing to deposit.
- Credits, repairs, concessions or reports the buyer is asking for because these could offset the money that you ultimately make on your home.
Set Baselines In Advance
As a seller one of the most important things you can do is to decide in advance is to set “baselines” for what you’re looking for in an offer because this will ultimately make closing easier for you.
If accepting the highest price on your home is important then you should be flexible on the closing date, but you also have to keep in mind that all of the other things that a buyer can ask for may delay closing and ultimately lower the amount of money you actually make on your home.
Remember That Offers Can Be Negotiated
One of the important things to remember when selling your home is that offers can be negotiated so if you receive what you think is a great offer for your home but it has contingencies or concessions, you can always request that the buyer’s terms be modified before accepting their offer.
Contact Fred Sed Realty
Do you have more questions about accepting the best price for your home? Count on Fred Sed Realty to answer all of your Real Estate questions. Contact us today by calling (800) 921-9231 or connect with us online.