Here’s why the highest-priced offer isn’t always the best one.

In our current real estate market, sellers are often getting multiple offers for their homes, and those offers are even going over asking price. It’s only natural for sellers in this situation to automatically accept the highest-priced offer. The more money the better, right?

Not necessarily. There are a lot of offer terms besides price that can be appealing (or not so appealing) to a seller, especially in this market where, as I just mentioned, offers are going over asking price. It’s important to consider the ramifications of that, because appraisals are making it difficult for buyers to close on properties. Many of them make offers that are above homes’ appraised values only to find out they can’t get loans to purchase.

So perhaps an offer with a high price and an appraisal guarantee would work best for you. It might not carry the best price, but that appraisal guarantee is very important. Or, maybe in your case, it’s important that your offer includes additional occupancy after closing or a shortening of the inspection period.

Perhaps an offer with a high price and an appraisal guarantee would work best for you.

This is all the more reason why you need to hire a good agent who knows what they’re doing and is experienced in reviewing multiple offers and writing lots of contracts. They know what to look for when reviewing those offers with you. Home sale contracts contain a lot of information.

If you have questions about choosing the best offer for your home or need help listing it, feel free to give me a call. I’d love to speak with you.