Getting an offer on your home is exciting! Before you jump into picking the best one, there are a few things you should consider. By keeping the following details in mind when selling your home in Central Florida before choosing an offer on your home, you’ll feel more prepared to make an informed decision.
Set your expectations from the start.
Begin with the end in mind. Before you choose an offer, you should have a clear idea of what a good offer, or even the best offer, will include. What is the lowest offer you are willing to accept? Do you want to work with a buyer who has already been pre-approved for a loan? How about buyers that plan to pay with cash?
Price isn’t the only thing you should consider. Think about what contingencies - clauses in your contract that allow you or the buyer to pull out of the sale if certain criteria are not met - you’re willing to agree to. Have you thought about who you want to cover closing costs - you or the buyer? Did you agree to make home repairs before the new owners move in, or are you selling your home as is?
Hopefully, you have a knowledgeable REALTOR® working with you who understands how to navigate these questions while keeping your best interests in mind while you sell your home in Central Florida.
Create an approval process with your REALTOR®.
Let’s say you’ve received an offer you are willing to accept. Before signing on the dotted line, you should review the offer with your REALTOR®. Consider if the offer truly meets the expectations you set at the beginning. What contingencies are included? Has the buyer been pre-approved for financing? Are there any potential roadblocks you need to navigate before accepting the offer? Is the offer really as good as it sounds? Are you willing to negotiate further? Do you want to make a counteroffer?
Only after you’ve carefully reviewed the offer should you consider accepting or rejecting it. Creating an approval process with this in mind will ensure that by the time you choose an offer, it really is the best one.
Decide how much you are willing to negotiate.
If you’re lucky, you’ll receive an offer that meets all of the criteria you set at the beginning. More often, you will need to negotiate with the buyer or accept an offer that is good, but not quite perfect. Keep your REALTOR® in the loop and let them know how much you are willing to negotiate, if at all. Negotiations can be tricky, and it’s best to leave this part to the professionals. A REALTOR® who is knowledgeable about the current real estate market and knows what your expectations are is an invaluable resource you can lean on during negotiations.
Remember, while your goal during negotiations is to get the best possible offer on your home, you also don’t want to discourage interested buyers by not being flexible or simply ignoring buyers who place an offer that you don’t think meets your expectations. You could end up rejecting an offer from a buyer who is willing to negotiate, and in turn, lose out on the sale.
Selling your home in Central Florida can be daunting. Working with a knowledgeable REALTOR® will set you up for success in the long run, especially when it comes to choosing the best offer on your home.
Learn how our team of REALTORS® in Central Florida can help you sell your home.