With the real estate market tight on inventory, your for-sale home should receive multiple offers quickly. We have had homes with multiple offers, sight-unseen, before an open house! We always counsel people to wait until the open house, because that’s how a bidding war starts. That’s how you get above-market bids. However, you’ll still have to juggle different proposals. Here’s how to manage multiple offers on your St Louis home.
Manage multiple offers on your St Louis home.
The key is to determine what’s important to you.
Every bid will be a little different. What one potential buyer sees as a charming breakfast nook could be an out-of-style relic to another. The highest bid isn’t always the best. Some buyers will ask you to do repairs, or change part of the home, or keep your appliances. Make sure that you aren’t giving away the farm in the offer.
Do you want to get your home sold quickly, or get the best price?
That’s really important to know going in. If you are moving, already have the other home purchased, and need to sell, that’s one set of circumstances for the sale. If you are testing the market because you think that you can move up in housing, but you aren’t in a hurry, you can take your time and sort through offers to wait for the perfect proposal. Just make sure that you know what you’re getting into.
Make good decisions.
This is the most important lesson teaching how to manage multiple offers on your home. You have to read everything carefully. You can build a spreadsheet of pros and cons to help you decide which offer helps. Of course, your realtor will also help you parse the various offers. We know how to manage multiple offers on your St Louis home, and will help you navigate your way through.
If you’re ready to buy or sell your home, Rick & Tracy Ellis are ready to make your dream come true. Call us today at 636-299-3702, email us directly at firstname.lastname@example.org, and visit tracyellis.com for more information on buying and selling your home. You can also listen to the “The Rick and Tracy Ellis Show” every Saturday at 4 p.m. and Sunday at 10 a.m.