Just as setting a listing price is ultimately your decision, so is whether to accept an offer. Your agent will give you advice, but the final decision is yours. It can be difficult to decide if an offer is a good one, because there are so many influential factors. Getting an offer is the first positive step. Now take a deep breath, and consider your option.
Are you under pressure to move? Whether it’s finances, family, or a job transfer, the urgency of your need to move may dictate accepting an offer lower than you had hoped for.
Likewise, how much debt do you still carry on your mortgage? Unless you are in a “fire sale” situation, you don’t want to accept an offer that’s less than what you owe, so pay close attention to how closing costs affect your bottom line before making the decision to accept or counter an offer.
Another important factor to consider is whether or not the buyer is pre-qualified for financing. If so, you can expect a quicker closing with less chance of surprises, and confidently begin the pursuit of purchasing your next home. Even a lower offer from a pre-qualified buyer maybe better than a higher offer from one whose financing falls through at the last minute.
Remember, offers are about negotiation and compromise. Be flexible and reasonable when considering any and all offers that come your way.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.