So you’re a homeowner and are thinking about selling your home but, you’ve heard that many homes across Southern California and the United States are receiving multiple offers, and you’re wondering how you pick the right offer on your home.
In this article, we will provide you with tips you can use for choosing the right offer.
Tip #1 – Review Contingencies
One of the first things to review when it comes to choosing the best offer on your home is contingencies because even though buyers in California have 21 days to remove their contingencies, you will be able to tell if a buyer is really motivated or not if they are willing to waive contingencies, or are able to remove their contingencies in as little as 10, 12 or 14 days.
Tip #2 – Review the Earnest Money
Another thing to review when choosing the best offer is the earnest money because; earnest money is what enables the buyer to have “skin in the game” since it keeps them from walking away from the home at the very last minute.
In today’s competitive Real Estate market you should expect earnest money that’s no less than 2% to 3% of the sales price for your home.
Tip #3 – Review the Financing
Although some Realtors® may tell you to always choose a cash offer over a financed offer, the reality is cash offers are not always ideal especially if the cash offer is lower than the full asking price for your home.
You should consider all offers on your home and use wisdom when choosing a financed offer because some buyers financing may not be stable and you should examine where the financing is coming from before approving their offer.
Sell Your Home with Fred Sed Realty
At Fred Sed Realty we will make selling your home easy and we will help you choose the best offer should you receive multiple offers on your home.
Contact us today by calling (800) 921-9231 or connect with us online.