Getting multiple offers on your house sounds great…
After all, who would not want to have buyers fighting to buy their home? As wonderful as it sounds though, it can also be a GINORMOUS headache.
A wrong decision could cost you thousands of dollars or even the sale altogether.
- Take the first offer?
- Be upfront and honest and let the buyers know that there are multiple offers?
- Ask for their highest and best?
There are a lot of different factors to weigh and every situation is different.”
This is not a one-size-fits-all solution and no one blog post can really give you all of the answers. There are just too many variables.
One potential buyer may need to sell their own house first.
Another buyer may want to go to closing faster, but also wants to negotiate the cost of repairs.
ANOTHER buyer may be using a VA loan to finance the house which can mean that you end up paying a portion of their closing costs.
Really, there are no hard and fast rules when multiple offers are on the table. As a seller, you want to carefully review, think about the pros and cons of each offer–there is no substitute for having local experience at closing.
But, figuring out what to accept and what to reject can be tough. That’s why we built the full representation upgrade.
Since 2002, years of contract negotiations (over 2000 per year) have given us tremendous insight into the selling and buying process of each Texas MLS.
Some offers will look really good on the surface, but end up costing you later.
If you are facing multiple offers, give us a call.
If you are in our Texas market, you should consider upgrading before you get into a multiple offer situation.
For $700, we walk you through every offer you have through the life of your listing (no matter how many offers you have).
If you wait until you start receiving offers to upgrade, we can only negotiate one offer per $700.
Purchasing the upgrade first acts as an insurance policy to cover you no matter how many offers you get.