Is 2021 the year you’ll list your house among other homes for sale in Ramsey? Are you considering relocating or finding another home to better fit your family’s lifestyle?
If your home has been updated and features the amenities that today’s buyers are looking for, it’s possible that you will receive multiple offers on your house. Because competing interest in your property is a viable possibility, you’ll want to be equipped to handle the situation. Knowing the aspects of a great offer and the different choices when it comes to accepting an offer will help you conduct a successful real estate transaction.
1. Identify and Accept the Best Offer
Looking for the simplest ways to navigate multiple offers on homes for sale in Ramsey? Learning how to identify and then accepting the best offer while rejecting the rest is straightforward and easy.
The biggest thing to consider is discerning the best option because the best option might not be the one that offers the most money. Upon listing your home, make sure you discuss your top priorities when selling with your agent — this includes what types of offers could be the most beneficial to you and explaining your reasons for deciding to sell.
If you need to get the most out of your home so you can buy a bigger house, for example, the amount of the offer will likely be a big consideration. If, on the other hand, you need to move quickly due to a job relocation or financial issues, a quick closing may be more important than the top price.
In general, a great offer will be composed of the following:
- Price. Price, while not the only consideration, will always be one of the top priorities when it comes to choosing an offer.
- Contingencies (or lack thereof). Common contingencies seen in offers include those involving financing, property appraisal, and buyers selling their current homes. The fewer the contingencies in an offer, the stronger it is.
- Cash offer. If you get a cash offer, it means the buyer does not have to get approved for financing to buy your home. Cash offers tend to close more quickly and have less red tape than others, so they are considered stronger.
- Lots of flexibility. The more flexible the buyer of your Ramsey real estate is willing to be, the stronger their offer. If a buyer is willing to move up the closing date, consider a lease-back agreement, or adjust the move-out date — their offer is stronger than others that offer no flexibility.
- High down payment. 20% or more down on a home is considered a strong down payment because it indicates that the buyer has solid finances and the deal is very unlikely to fall through.
2. Counter-Offer the Best Offer
If you and your Ramsey real estate agent believe you’ve identified the best offer but think you can sweeten the deal, even more, you may want to pass all offers and come back to the chosen buyer with a counter-offer. Your offer could be an increase in price, a decrease in contingencies, or any combination of both. This can be seen as an act of good faith, showing the chosen buyer that you are committed to working with them to get the sale of your home to go through.
3. Counter All Offers Individually
Think you’ve identified the best offer and can get more out of the buyer but don’t want to put all your eggs in one basket? Talk with your Ramsey real estate agent about offering a counter-proposal to each of your potential buyers. This can help locate offers that might not be as strong as others. You want to make sure your future homebuyer is engaged and serious.
4. Ask for Best Offers from All Interested Buyers
When there are multiple buyers interested in homes for sale in Ramsey, buyers can have their agents tell all those interested that there is a multiple-offer scenario and invite them to make their best offer. This strategy can result in higher initial offers as each prospective buyer attempts to beat out the competition. However, you will also run the risk of losing some potential buyers who are not interested in a bidding war or competing against others for the property.
Why You Need to Work with a Ramsey Real Estate Agent When Facing Multiple Offers
It’s always a good idea to work with a Ramsey real estate agent when listing your home for sale. They become even more crucial when you are facing a multiple-offer scenario, as they have the expertise and experience you need to help you sift through the offers, find the best one and assist in the counter-offer or acceptance process.
When choosing the agent you want to work with, make sure you ask them ahead of time what strategies they plan to use if you get multiple offers on your home. An agent who has handled these situations before with other clients with homes for sale in Ramsey will know the best way to ensure you get top dollar and the best terms for your property.
Are you ready to sell your home so you can start looking at other homes for sale in Ramsey or relocate to another area? Reach out to an experienced local agent like those in The Lopez Property Group for guidance on listing your property and earning top-dollar on your home for sale.
