Ideally, you will sell your home as soon as possible. The longer that it stays on the market, the more people will think that there is something wrong with it. However, there are some good reasons to let it remain available for more than a day.
Have You Found the Right Buyer?
While the first offer that you receive may be for list price or higher, you never know if someone is willing to offer more. You also never know if the person who offers to buy the house is able to secure financing or otherwise follow through on the deal. In the event that the house goes back on the market, interested buyers may think that the original offer fell through because the house isn’t in good condition.
You May Not Be Ready for What is Next
After selling your house, you have to find a new place to live and figure out if your things will all fit in the new place. By selling your home the first day it is listed, there may not be enough time to find a new place or put your things in storage before the closing date. Therefore, it may be necessary to delay the closing or leave items in the home that you would rather keep.
Your Agent and Attorney Should Review the Offer First
Ideally, you will send an offer to your attorney or real estate agent for review. If the home sells the first day it is on the market, it may not allow enough time for this review to happen. That could result in accepting an offer that has a lot of contingencies or other stipulations that you may not necessarily like or fully comprehend.
Don’t Sell out of Desperation
When selling real estate, is never a good idea to set an artificial deadline for completing a deal. Even if you have to move to another city or state for work, it is possible to rent the home before it sells. By giving yourself time to make a sale, it is easier to make the best deal as opposed to taking the right deal.
If you have chosen to put your home on the market, don’t take the first offer that you get. Instead, provide some time to allow multiple buyers to see the home and make offers on it. This could result in a higher sale price as well as fewer contingencies that could delay the close or scuttle the sale altogether.
