How Should A Home Seller Pick An Offer? – Fridays with Fred

    The Orange County Real Estate market is hot right now and in many cases it’s hotter than other parts of the country since we’re experiencing a rapid increase in home values while at the same time a general lack of inventory.

    What does this mean for the seller who is planning on selling a home in the Orange County area? Two words: multiple offers; sellers must be prepared to receive multiple offers for their homes and also be prepared to choose the right offer by following these tips.

    Sellers Goals

    The first question that you must be prepared to answer before selling your Orange County home is to ask yourself “what is my goal for this sale?” do you want a quick sale or are you willing to wait it out until they get over and above the asking price for your home?

    Expectation

    Another important aspect of understanding your goals as a home seller is to define how much you are wiling to settle for, within a $10,000 to $20,000 range, once you start to receive offers because, even though many homeowners are receiving multiple offers in this Real Estate market, it’s not always guaranteed that every seller will experience that.

    Financing Allowed

    Before offers start coming in, you and your Listing Agent should verify what type of financing is allowed in your community because, if financing like FHA, VA or HUD financing isn’t allowed, you could find yourself having to turn away potentially great offers.

    Examine All Offers

    Once the home has been listed, and offers start coming in, you and your listing agent must examine every offer that you’ve received and ask questions like: has the buyer been pre-qualified for a mortgage loan or how high is the buyer willing to raise their offer, within a $10,000 to $20,000 range, in order to write the winning offer on the home?

    To learn more about how to deal with multiple offers in todays Real Estate market or to view the latest Orange County Homes For Sale, contact Fred Sed & Associates today by calling us at (949) 272-0125.

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    Our agents write often to give you the latest insights on owning a home or property in the local area.