Seller’s markets come and go. If you’re selling your house or property in Fort Wayne during a seller’s market, then you may get multiple offers. This is how to review seller’s market offers in Fort Wayne…
A seller’s market is when there is more demand for homes then there are homes. There are more buyers and not enough properties to satisfy those buyers. For sellers, it’s an exciting time to sell since you may get a an offer higher then your list price. You may also get multiple offers and then you have to figure out how to review seller’s market offers in Fort Wayne.
Your house goes up for sale and you get multiple offers, immediately you ask yourself now what should I do. Multiple offers are almost always appealing but it can be a little much to take in and deal with. Thankfully there are four things you can do to ease the pain in dealing with multiple offers.
How To Review Seller’s Market Offers In Fort Wayne
First you should sort the offers into those who are ready to buy and those who are buying contingent on something different. Terms can make all the difference when reviewing multiple offers. Many home buyers have contingencies in their offer. They would include but not limited to financing contingencies, inspection contingencies, appraisal contingencies, insurance contingencies, use contingencies, flood plane, and countless others. Looking at terms and not just the price will be helpful in determining the best route to go.
I am not saying to discard the ones with contingencies or that you shouldn’t consider them. But, you should look closely at those contingencies to determine if they will help you meet your goals and if the risk of those contingencies is worth it. Having an all cash offer in front of you even if it is for less money may be the route to go. Only you can make that decision.
The next step is to sort the offers based on which terms of the agreement are most important to you. You may be in a rush to get the home sold and in that case may only want to consider offers that close quickly. You may be in a position that waiting is acceptable as long as you net the most money possible. You may be in a position that you have little to no desire to repair anything on the home. Of course all terms of the agreement are important to consider and understand, but usually one will be more imperative than the others.
- If speed is something important to you, sift the offers by the ones who are closest to the timeline you want.
- If price is essential to you, sort the offers by the ones that are highest to lowest in terms of the money you actually put in your pocket at closing.
- If no repairs are important to you, sort them based on who wants an inspection and which ones will forego the inspection.
The next step sort based on the next most important considerations for you. For example, if moving by the end of the month is most important to you, take any that meet that criteria and start drilling down into the rest of the terms and the price. This is how to review seller’s market offers in Fort Wayne quickly.
I have always like to write a pro and con sheet. I take a blank piece of paper and list the net to me after all costs of the sale. I list the conditions and terms next. So, for example, maybe I have an offer that is $5000 less on price, but will close in 2 weeks, and has no inspections or financing contingencies. I would be much more likely to take that offer then taking one that was $5000 more but had a financing contingency, inspections and appraisals, and wasn’t closing for 45 days. This will allow you to look at each deal side by side. If each piece of paper has an offer’s pros and cons it will be much easier for you to compare how to review seller’s market offers in Fort Wayne.
If this is overwhelming or if you don’t have as many offers as you’d like, or if you don’t have the offers that you want or need, there is another way to sell: you can sell directly to us at Sky Line Properties LLC.