Should You Ever Accept the First Home Offer?
As people consider selling their home, their first thought is often on how much money they will get from the transaction. Even though this is an important aspect of selling a house, it is not always the most important. In many instances, waiting for a better offer to come along actually is worse than taking that first home offer.
With this in mind, sellers in the following situations will want to consider taking the first home offer (provided that it is a solid home offer, of course).
Winter Sales
Homeowners do not typically sell during the winter and buyers are not looking in as large of numbers. A homeowner that needs out of their home at this time of the year is going to be hard pressed to find the perfect buyer. But if a buyer comes along with a fair home offer, it can be best to take it if you need to sell asap.
Waiting Too Long
A house that has been on the market for a long period of time is only getting harder to sell. Regardless of why the house did not sell within the first few months it is crucial to get the home sold soon. Old listings make buyers wonder what is wrong with a house and many pass on the chance to even walk through. If someone is making a decent home offer on a listing that is more than three months old it can be worth accepting.
Getting All Cash
The rare buyer that is able to buy in all cash does have some leeway. They typically make a lower offer on a house because their offer is already appealing. The seller will not need to wait for a home loan to be approved and there is less risk of the deal falling through.
With that in mind, if you are need of selling your home fast, and for cash, contact us today. Our team specializes in helping sellers get out of their home fast. Learn more here.
Other Problems
Selling a house is not something to do while going through another life event. Whether it is changing jobs, having a baby, or even getting married, all of these life events are stressful on their own. Sellers do not need the stress of each other piling up. If the life event is significant, sell the home quickly to reduce the stress involved.
The Ideal Buyer
Sometimes the right buyer comes along. They may not have the highest offer, but their home offer is fair and justified by repairs needed on the home. Their financial information is presented with the offer including a pre-approval from the bank. Plus they have written a letter as to why the house is a great fit for them. So long as the buyer is not low balling and tugging at the heartstrings, it can be the right fit.
Motivations to Sell
The home being sold is not always a seller’s primary residence. In some cases, people will have a property that they inherit. While some are lucky to be left their family home they may not want to live in it. Nor do they want to pay to upkeep it or pay off the rest of the mortgage. A house that came to a homeowner free of charge is an easy one to sell at a fair price a home buyer offers.
Moved Out
A perfect house has fallen into a homeowner’s lap and they make an offer before their own property is sold. If they manage to close before selling their house they are now stuck with two houses and two mortgages. Once everything is moved into the next house, they want to get rid of that extra home as soon as possible to reduce the financial burden.
Selling a house goes beyond the profit made. A homeowner wants to get the maximum amount for their home, but they also want to get to their next phase in life. Dwelling on a few thousand dollars and losing out on a sale is not worth it if the homeowner is in a pinch for time or money. Waiting for a better buyer to come along is time-consuming and may not happen. Sometimes the first home offer is truly the best offer.
