As a home seller, you’ll find yourself faced with many decisions to make during the home selling process. When you start receiving offers on your property, you may feel pressured into accepting, however, the power lies with you as a seller on when to accept or deny an offer letter.
An offer to purchase fails to meet a seller's expectations
If a home seller receives a "lowball" offer to purchase, they may submit an instant rejection. Lowball offer letter may indicate a buyer who wants to text the flexibility of a home seller on the price of their home. It may also indicate a homebuyer who doesn’t have the means to properly approach the purchase of the property.
Establishing realistic property selling expectations is a must for home sellers. Setting a competitive initial asking price for your home, you can reduce the likelihood of getting lowball offers on your home. This puts you ahead of competition and may reduce possible stressors often associated with home selling.
A home seller has multiple offers to purchase at his or her disposal
When a home seller receives multiple offers for their residence, there is no need to rush the decision to accept or deny proposals. Instead, a seller should evaluate each offer closely and use info at their disposal to determine the best course of action.
A home seller can afford to wait
When listing in a buyer’s market, many properties are available in comparison to buyers, so competition is fiercer. Conversely, if a seller lists a home in a seller's market, more buyers are on the market than listings, so purchase proposals may be more plentiful.
Sometimes, a home seller who can afford to be patient may decide to reject a purchase offer even in a buyer's market. If they wait for the real estate market conditions to change, they may be able to maximize the profit from their home sell at a later time.
As a home seller, the power is yours when deciding when to accept an offer. Working with a real estate agent can give you great insight into the matter to make an informed decision.
About the Author
Cary Garcia
As a real estate broker licensed in Virginia, Maryland, and Washington, D.C., I work strictly by referral. For over 20 years, my success has hinged entirely on detailed, efficient service to clients like you.
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Finding a real estate agent is easy. Finding a skilled agent is the hardest…What separates me from other real estate agents is my extensive knowledge of contract law. You need an agent who understands the legality of the contract by enforcing the terms of the offer as well as all of the contingencies, addendums and disclosures. Before signing the offer, I will thoroughly explain the contract in detail, so you understand what you are committing to.I bring an expert’s perspective to help buyers and sellers make the right decisions.
Because I understand the legal and highly emotional aspects associated with real estate transactions, I am able to provide expert guidance to help you make informed and educated decisions. In addition, I’m very skilled at project coordination.
With so many people involved in the home sale process, I know how to create satisfying resolutions and make the process go as smoothly and successfully as possible.