When placing your Markham home on the market, you may receive multiple offers in a short period of time. While this is exciting, it can also become a little stressful as now you are faced with the task of choosing the best offer. While the offer price plays a large role in the process, it shouldn’t be the only factor you consider.
Here are a few tips to help you choose between multiple offers on your property.
Look at the Conditions
Many offers will include several conditions that must be met for the buyer to complete the sale. While these conditions can vary greatly, a few common ones include:
- All financing is acquired
- The buyer must sell their current property
- The home passes the inspection and no major problems are found
- All repairs are negotiated between you and the buyer
If you receive an offer with a long list of conditions, be cautious. This is simply a list of reasons why the buyer could walk away from the deal.
Compare the Deposit
When an offer is placed, the buyer must provide a deposit. The deposit is not the down payment you are providing, but it is essentially money showing the seller that he or she is a serious buyer. Take a look at the amount of money provided in each offer and place those with higher amounts at the top of your list. If the buyer provides a large deposit, it shows that they are a serious buyer and that they have more to lose if they back out of the deal.
Consider Convenience
While money is nice, convenience can make a world of difference in a real estate transaction. Look at the various offers provided and compare how their desired timeline best matches your own. For example, if you wish to stay in your home for a few more months and you receive an offer where the seller is in no rush to move in, that offer may be worth moving to the top of your list.
Look for All-Cash Offers
One of the common reasons that home sales fall through is due to the difficulties of acquiring financing. If you receive an all-cash offer, this worry is gone. However, make sure you verify the cash before accepting the offer.
Choosing between multiple offers can be intimidating. Luckily, with an experienced real estate agent like Martin MacFarlane, you can have expert help every step of the way. Contact Martin today to help you sell your Markham property.
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