You took the time to get your house perfect to put on the market and now you have offers rolling in. Some even over your asking price. But the highest offer may not always be the best one. There are many factors you need to look at before accepting the offer and ensure it’s the right offer for you.
Closing Date- If a certain closing date is important to you, make sure the potential buys date aligns with yours.
Home Inspection- If one buyer wants an inspection while the other does not, what do you do? If the inspection is waived, chances are there will be no further negotiations prior to signing the purchase agreement.
Cash or No Financial Contingencies- Most sellers are more willing to choose the all-cash offer versus the financed one. However, an all-cash offer may come in the lowest and the funds may not clear. Waiving this contingency will also forgo the bank appraisal.
Escalation Clause- A clause states that a buyer will pay a certain amount over the highest bona fide offer that does not contain a home sale contingency. Not all agents use this tactic but it can be a great way for buyers to ensure their bid stands out against the competition.
Whatever option you end up picking, remember that every term is negotiable and as a seller you are in control.
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