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Buying or Selling a Home/Multiple offers for our home
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Question
We are selling our home by ourselves. We have two parties who say they will be making offers this week. How do we handle this? If we get an offer from one party do we tell the other party about it in the hope that they will offer more or do we just wait and see who actually comes through with a valid offer? We don't want to lose a buyer by not accepting an offer immediately but we also do not want to lose money by not getting the best offer we can. Thanks for any insight you can give us.
Dear Judy;
It is always a little risky with multiple offers. I suggest that you advise both parties that there might be another offer and to make their offer as soon as possible (but don't come across as pushy!) Then, when you get your first offer tell the other party that you have an offer and ask if they were planning to make an offer as well. If so, then you will delay your decision on the offer you have until you have had a chance to review theirs. Tell them that you will delay for 24 hours. If they are serious, they will forward an offer too. Then, if both are good offers, you should tell both parties that you have received two offers and give them the opportunity to make their best and highest offer. Usually you don't have to do this since one offer is clearly better than the other.
Good luck with this.
~Jessica Bryan
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Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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