Top 5 Tips in Choosing the Best Offer in a Bidding War
Sellers who receive competing offers to purchase from buyers of homes for sale in Birdland Pleasanton CA are now faced with an interesting problem - how do you know which offer is the best?
To answer this, you will need to review each offer carefully to determine its strengths and drawbacks. Doing so will help you minimize the fallout and increase the likelihood of success. Your trusted real estate agent can provide you an estimated seller’s net sheet on each individual offer. This is very helpful in comparing offers side-by-side.
Read on for some tips to help you evaluate the offers .
1. Set baselines
Setting baselines is one of the best ways to help you select the best offer on your home. If you are receiving several offers from buyers looking for real estate for sale in Birdland Pleasanton CA , it is best to determine which terms matter most to you. If the price is your highest consideration, you may need to be flexible on your desired closing date.
If you want to be sure that the transaction won’t fall apart because the buyer can’t get a mortgage, your trusted real estate agent should speak with the buyer’s lender to find out how they were pre-approved. Some lenders will provide a much more in depth approval than others and it is worth the phone call.
2. Check all legal documents
Before you choose any offer, make sure you have gone through each document carefully. Ensure that you understand the actual contract that you will be signing. Be familiar with the legal aspects of the contract, including important things like the amount of earnest money deposit being held in escrow, the amount of money the buyer will be mortgaging, the closing date and any other inserted contingencies.
3. Don’t take offers personally
Selling your home is not just a business transaction, it is also an emotional process. It is normal for you to feel attached to your home. However, avoid feeling offended if your real estate agent informs you that a buyer complained about some features of your home, justifying a lowball offer. Take it as a sign that the buyer is truly interested and those comments are just part of the negotiation tactics.
4. Beware of pitfalls
Receiving multiple offers can be exhilarating, but be careful not to let it go to your head. Too much drama and delay can cause some buyers to lose interest and withdraw their offers. Working with an experienced real estate agent who has successfully dealt with houses for sale in Birdland Pleasanton CA will help you steer clear of common seller pitfalls. Have a master negotiator who fights for your best interests and also realizes the delicate balance of negotiating.
5. Be flexible
If you receive an unacceptable offer through your real estate agent, do not reject it right away. Instead, ask questions to determine what is really most important to the buyer and check if you can meet that need.
For instance, if you learn that the buyer has to move as soon as possible, this may allow you to be firm on the price but offer to close quicker. Remember that the secret to successfully negotiating the sale is to remain flexible.
Check out http://www.HomeValuesPleasanton.com for more home selling ideas, and for a free market evaluation of your home in Birdland.
