How to Choose the Right Offer?

Sellers have a tendency to get swallowed up in the dollar amounts of different offers. While this is understandable, there’s a lot more to think about than who happens to make the highest bid. If you’re looking for how to choose the right offer, we’ll look at the different factors that go into making this critical decision and how you can feel more confident about the lucky person who ends up with your property. A realtor familiar with the Kamloops market can attest to just how important these considerations can really be to the outcome of your sale.

Starting Out

As much as we want to stress that price isn’t the only thing to consider, it’s obviously a big part of it. A good real estate company will figure out the minimum value that a seller needs to sell the home and then set a deadline to ensure all offers can be compared side-by-side.

Is the Offer Clean?

This is probably the most important thing for a seller to consider. Buyers can easily get caught up in the emotional components of the property. They picture themselves in it and end up bidding far more than they can either afford or want to pay for the property. You can’t spot every flaky buyer, but there are signs that you’re not working with a clean offer.

Here are a few major red flags:

  • Too many conditions: If the buyer is extremely demanding about anything from repairs to move-out dates, it can be a sign that the sale will drag on forever. (Or worse, be canceled at the last minute.)
  • Loan issues: If the buyers make barely enough to cover the mortgage or they’re in an industry that’s on the decline, it can easily cause a lender to get cold feet and back out of their original promises.
  • Interest: Does the buyer seem like they truly want the property? Some buyers will go so far as to write letters about how they’ll plan to use the home and why they’re so interested in the neighborhood. This can be a sign that they’re going to do what it takes to close escrow.

Closing Dates

Even the most motivated of buyers can end up struggling with their timing, so this needs to go into a seller’s decision-making process. For instance, if the buyer’s offer is contingent on selling their home, this clause could end up delaying things significantly. For sellers who need to move out immediately, they may be forced to choose a lower offer simply because they don’t have time to wait around.

How a Cascadia Pacific Realty Can Help You Decide

Going through offers, particularly in a multiple-bid scenario, can be exhausting for sellers. A realtor familiar with the Kamloops real estate market will not only help you make the right decision, they’ll also take a lot of the grunt work off your plate. From the contingencies to the fair market value of the home, they can help you break down each component so you don’t leave anything on the table. Contact us today to learn more about what we do and why it works out so well for our clients.