Multiple Offers On Your

UnCategorized Multiple offers mean you priced your house right because more than one buyer is making an offer to purchase your San Fernando Valley real estate. Your San Fernando Valley Realtor will present the offers to you and explain the price, terms and contract contingencies so you can decide which offer is the best for your situation. If you are not represented by a Realtor, then you should consult with your real estate attorney. Factors to Consider Every seller’s motivation for selling is different so depending on your circumstances not every offer is necessarily going to work for you. This is where the expertise of your Realtor is beneficial to you. Your Realtor can help you counter out any items that you do not agree with and add any items that you want to address in the contract. Factors to consider include the following: Price Is the buyer paying cash or obtaining financing? Amount of the earnest money down payment Contract contingencies Closing date Buyer’s motivation. Is the buyer purchasing the home to live in or for an investment? Once you have considered all the above factors, then you have the following choices to make: Accept the best offer Respond by countering to all offers at once letting each buyer know that they are in a multiple offer situation Only respond to offers you like Respond to one offer at a time Do not respond to any of the offers Advantages to Seller The advantages of multiple offers to sellers are: Multiple offers create an atmosphere of competition between your buyers. As a result, you may receive a higher price for your home, and you have more choices. Why Multiple Offers Can Back Fire? One thing to keep in mind when you have multiple offers on your San Fernando Valley real estate is that buyers do not like to get into bidding wars. Because it is a buyer’s market right now, most buyers would rather find another property than over bid for your Sherman Oaks, Encino, Van Nuys or North Hollywood real estate. Be careful about countering too high over your asking price, unless your asking price is way below market value. Today’s savvy buyers will not over pay for the home because they are educated about San Fernando Valley home prices. Buyers recognize that there are other homes available that also meet their criteria in the Encino, Sherman Oaks, Van Nuys and North Hollywood areas. So avoid being greedy if you receive multiple offers because it could back fire on you, and you might lose all your offers as a result of the buyers walking away. Also, you cannot expect to receive a price substantially over market value if your buyer is obtaining financing because the house will not appraise, and the buyer will not be able to get a loan to purchase your home. In this market, the smartest strategy is to take the offer that is closest to your asking price and the home’s true market value with the best terms that work for all parties. About the Author: David Hitt – Realtor and Training Director Coldwell Banker Sherman Oaks (818)422-1702. David specializes in the San Fernando Valley real estate communities of Encino, North Hollywood, Sherman Oaks & Van Nuys. He has experience with buyers & sellers. Article Published On: ..articlesnatch.. – UnCategorized By: Shirley B. Dudley – There are times when an urgent care clinic is preferred over the emergency room. By: Helen Phillips Cockrell – Primary care physicians play a needed role in health care. Find one in Germantown, MD. By: Shirley G. Dudley – A subscription membership practice means better medicine. Find one in Matthews, NC. By: Kylie Weber – Headed to Vegas for Thanksgiving? Then you’ve got to try a Grand Canyon heli tour! Flights available every day during this popular holiday. Seats are limited so RSVP soon. G … By: Kylie Weber – Black Friday Grand Canyon National Park air tour discounts will be available soon after Thanksgiving. If you plan to visit the Canyon, don’t forget to take advantage of thes … By: Kylie Weber – Thanksgiving at Grand Canyon National Park means chopper and airplane excursions. Flights depart Vegas and South Rim. Discover the holiday sightseeing trip that’s great for … By: Leandro McCathie – Some Denver roofing .panies are utilizing a new technique to repair flat roofs. Let’s suppose the vertical distance from underside of roof is 9". But, most of the harm is … By: Kaira – Mobile Media buying is defined as a process of negotiating, purchasing audience targeted time and advertising space to create mobile as a desired and positive platform for c … By: Owen Davis – If you are looking to buy a new vehicle, but you cannot afford it, you should concentrate on getting financing from a reputable lender. With sky-rocketing auto prices, it is … By: Owen Davis – Loans that are taken out by students to pay for school, are often not paid back until after the individual can .pleted their education. However, many students end up worki … 相关的主题文章: