5 Tips for Choosing the Best Home Offer

As the offers roll in for your central California home, you may be getting overwhelmed. It’s not as easy as choosing the highest home offer, so how do you choose? We’ve taken the time to outline 5 tips to help you make your choice. Consider the following factors and get ready to take an offer!

Finances

Before you accept an offer, it’s a good idea to make sure your buyer is pre-approved. If they aren’t, there is a risk that the offer will fall through which of course will land you right back where you started. Since offers that fall through are fairly common, you want to make sure you’re as safe as possible.

Terms

Analyze every term of your offer. How much will the buyer pay as a down payment? If it’s too low, they may be setting themselves up to ditch the deal. Are they asking for repairs? Whether they are big asks or easy tasks, make sure you track the demands. If the buyer is willing to pay a higher price but asking for a large amount of repairs you don’t have the time for, it may be a no from you.

Preparation

While we’re thinking of repairs, there is some work your can do before the sale of your home. If you anticipate specific repairs being asked for in the terms, give yourself time to do them. This is a great way to avoid delays while closing. Of course this means you’re still shelling out the cash for the repairs and you’re spending that time on the front end. If you’re hoping to catch these repairs before the sale, start with any code violations and move on from there.

Contingencies

A buyer may refuse to close unless you fix a broken water heater or a  leaky roof. Anything can be a contingency, even the furniture in your house! More likely, potential buyers might ask you to cover costs of closing. Just be aware of the contingencies and make sure you’re okay with them.

Response

Home selling is an emotional business. It’s better to keep that in mind when receiving offers. It allows you to eliminate the sentimental value you place on your home and keep a balanced perspective. You can go a step further and ask for a professional’s opinion on a fair price for your home. Use that number as a launching point for your offers.

Want a home offer in California? If you’re getting offers you don’t love, consider a home investor to sell your house fast.  Click here or give us a call at (559) 471-3333 to get started.

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