Multiple Offer Market!

How To Handle Multiple Offers!

Let's face it, getting multiple offers is definitely not the worst case scenario if you're trying to sell your house.   Now that the offers are there, what do you do?  First, keep in mind that for properties with a single offer, the fallout is 10%, but for properties with two or more offers, the fallout rate increases to 50%.  The reason for the difference is buyers often feel they were unduly pressured by the multiple-offer situation and now feel it's too much to pay.  Here are some tips on how to handle a multiple offer situation.

Listen to your agent.  You hired them because you believed in them and trusted them with selling your home.  Trust them now.  Your agent wants you to get the best deal and still be fair and ethical, so take their advice.  You will be glad you did.

Price isn't everything.  Make sure you review the terms of the entire contract and don't just see dollar signs.  The highest offer, although tempting, isn't always the best offer. Are the buyers pre-approved for that amount? What kind of loan is it? Are you going to have to pay closing costs or other costs associated with the buyer's loan?  Sometimes a lower more stable offer will save you a lot of headache at the closing table.

What is your home really worth?  If the buyer you choose orders an appraisal and that appraisal comes back less than the offer price, the buyers' lender may not approve the mortgage.  Unless that buyer is willing to come to the table with cash, you may be stuck putting your home back on the market.

Review closing periods.  A buyer who's willing to close within weeks is more attractive than one who needs or wants months to do the deal.  It is also less likely they will back out of the contract. 

 

It's the sellers' house and it's the sellers' decision.   You decide which offer you want to accept or if you want to counter all the offers.  Remain sensible and be fair.

If you are selling your home in today's market, there is a good chance you will get multiple offers and it can be overwhelming.  It's not a race. Take your time, read the contracts and listen to your agent's advice.  If you follow these tips, you will pick the best offer and run less of a chance of having to sell your house twice.  Good luck!

Cynthia Schmier, Broker/Owner
CRS, CDPE, CNE, CIAS, MDI, 5-STAR, SRS
RE/MAX Country
Cynthia@Cynthia-Online.com
(360) 400-3475
www.cynthia-online.com

What Mom really wants.

Happy Mother's Day

What does Mom really want on Mother's Day?  Flowers are nice and chocolate is always welcome but there are some things that I know would make Mom really smile.  

A clean car! Yes that's right, I said a clean car.  Take your Mom's car to get detailed.  Cleaning the car is one of those tasks that Mom hates to do but loves when it's done.  Most Moms spend hours in the car taking kids to school, commuting, car pooling; the list goes on and on.  It's so nice to get into a clean car you didn't have to break your back to get that way.

Plant the Flowers she really wants in the front of the house!  How many times have you heard your Mom say, "I would like to plant gardenias this year" but she never seems to have the time.  Well do it for her. Give her the curb appeal she wants without the back ache she doesn't want.

   

Clean out the Garage!  You know what Mom would really love, to not have to bring in the groceries in the rain because her car won't fit in the garage any more. 

Clean the House!  Its great to let Mom sleep in and make her breakfast in bed, but it kind of defeats the whole idea when Mom has to get up and do all her regular chores (to include the dishes she just ate off )  Vacuum, swept, and yes clean the toilets so Mom doesn't have to.  Oh and its free.

Take her someplace fun!  Sunday brunch is very nice but mini-golf and ice cream is FUN!  Whatever your Mom's thing is, take her to do that.   Not what you want to do, but what you know she wants to do.  It's just a few hours out of your life and it will make her so happy to be able to share her stuff with you.

Now go clean, plant and plan something fun for your Mom, she deserves it.

Cynthia Schmier, Broker/Owner 
CRS, CDPE, CNE, CIAS, MDI, 5-STAR, SRS
RE/MAX Country
Cynthia@Cynthia-Online.com
(360) 400-3475
www.cynthia-online.com