How Do You Handle Multiple Offers as a Seller?

Indianapolis Real Estate Podcast with the Evelo Team

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We’ve been getting a lot of questions about how to handle multiple offers from a seller’s vantage point. Here are the four most common questions for sellers to consider:

1. Is the highest offer the best one? Not always. There are many other factors besides price to consider when selecting an offer. Does the buyer’s timeline work with your own? Do you want to keep your washer, dryer, and refrigerator? The first offer might usually be the best, but the first price isn’t necessarily the best price. You can negotiate the price to where you need it to be.

2. What should I consider when accepting an offer? Price, possession, and amenities are the three biggest things to pay attention to when selecting an offer. For example, maybe the buyer wants to take possession two weeks before you are scheduled to move. That might not be the best offer for you to accept.

"Cash is king 99% of the time."

3. Is a cash offer better than a mortgage offer? Cash is king 99% of the time. When you accept a cash offer, you are not required to do an appraisal on the property. With multiple offers, you may be able to drive the price above asking. However, if you accept a mortgage offer, you need to do an appraisal, and the home may not appraise. Ultimately, cash offers allow you to close on the property without worrying about some of the contingencies that come with a financed offer.

4. How can a qualified professional help me select the best offer? We will sit down with you and compare each offer in order to find the best one for you and your family.

If you have any questions, give us a call or send us an email. We would be happy to help you!