Choosing the Best Offer for Your Home

You and your real estate agent have worked hard to sell your home, now you have more than one offer. This is a great problem to have, but how do you determine which one is the best one? Sometimes it is very easy to determine, but sometimes there will be advantages and disadvantages for each. Here are some things to consider when evaluating offers and determining the best offer for your needs when selling a Lake of the Ozarks home.

Determine Your Selling Point

What will it take to get your attention on an offer? Which terms are the most important to you? Many times price is the most important factor when it comes to accepting offers. Sometimes it depends on the closing date, especially if you have another home under contract. Another factor to consider is whether or not the party who put in an offer has been pre-qualified for a mortgage loan. This is an important consideration because if their finances are in place, you have security in knowing the transaction is less likely to fall through. 

Don't Be Offended By Offers
Selling your home is a business transaction, not an emotional relationship. If you receive what you consider an insultingly low offer, don't give in to an emotional response. Be realistic, objective and, above all, cool. Simply consider the offer as an indication that the buyer is interested and realize the buyer is using negotiating tools to get what he wants. A lowball offer may be the perfect time for you and your agent to analyze the current market to see what homes like yours are going for. It also provides a great opportunity for you to highlight WHY your home is priced above the market value (i.e.: custom-made cabinetry work, top of the line appliances, brand new A/C unit, etc.).

Evaluate Terms of Each Offer

The offers that come in on your home will likely have many different factors you need to consider, not just the price. Is the buyer asking for property and fixtures such as appliances, furniture or window treatments? Is the buyer asking you to make concessions, like covering closing costs? Are there any contingencies listed in the agreement that protect the buyer's interest but leaves you unprotected? Understanding the full terms of each offer will help to determine which offer is best for you. 

Determine the Buyer's Motivation
If you’ve received an unacceptable offer through your agent, ask questions to determine what’s most important to the buyer and see if you can meet that need. You may learn the buyer has to move quickly. That may allow you to stand firm on price but offer to close quickly. The key to successfully negotiating the sale is to remain flexible.

All Offers Are Negotiable

Just because you receive an offer that isn't wasn't what you expected, doesn't mean the deal is dead. If you receive an offer that you're not satisfied with, you have the option to accept it, reject it or respond with a counteroffer. Use this opportunity and your real estate agent's expert negotiation skills to present a counteroffer that is more suitable to your needs.

These are just a few tips from your favorite Lake of the Ozarks real estate team to make choosing the right offer easier. If you are looking to work with an experienced real estate agent to help guide you through the different steps of selling a home, we would be happy to set up a time to discuss more of our strategies for selling a home at Lake of the Ozarks with you!


FOLLOW us on Pinterest

LIKE our Facebook page

FOLLOW us on Twitter

2011 REALTOR Salesperson of the Year

Missouri Association of Realtors

752 Bagnell Dam Blvd., Suite A

Lake Ozark, MO 65049

Office | 573.365.1555

Fax | 573.365.1766