Details To Pass Along To A Prospective Buyer When You Receive Multiple Offers

Receiving two, three, or even four offers in quick succession is one of the best things you can encounter when you're trying to sell your home. The submission of offers from multiple buyers shows that there's a high demand for your property and can help to reassure you that you'll likely be able to close the deal promptly. Before you do, however, you may wish to communicate with some of the prospective buyers whose offers you find intriguing. There are a variety of details that you can pass along that may help to make buyers' offers even more enticing. Here are some examples.

Explain What A Buyer Needs To Change

Although your real estate agent can get in touch with a buyer agent and simply say that the agent's client's offer won't suffice, there's no harm in providing a reason why. Talk with your agent about which offer is appealing but not quite what you want to see, and then have your agent tell the other agent what would need to be changed. For example, if you like the offer price and conditions of an offer but don't favor the closing date, your agent can say, "If your client were able to move up the closing date, my client would be more interested."

Explain Where An Offer Ranks

Things can often work in your favor if your agent sends a message about where a particular offer ranks. For example, the agent can tell the buyer agent that you are currently evaluating multiple offers, and that while the agent's client's offer is appealing, it's not currently the best one. For example, your agent could say that the offer in question ranks second. This may make the interested buyer change something with his or her offer, such as increasing the offer price, to hopefully make his or her offer the best.

Explain When You Expect To Make Your Decision

While it's customary to respond to purchase offers promptly, you may occasionally say that you need a little more time to evaluate multiple offers. If there are a couple particular offers that you find appealing, your agent can pass along when you expect to make your decision. For example, he or she could say, "My client is evaluating a few offers and expects to make a final decision in about 48 hours." This could compel a buyer to decide to make his or her offer more appealing so that it catches your eye as you get ready to make your decision.

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About Me

Paring Down Your List of Homeowner Must-Haves

When I started saving for my first house, I started thinking about the different things that my place absolutely had to have. In addition to an open floor plan and a nice neighborhood, I also wanted a beautifully landscaped yard, granite countertops, and a jetted tub. Unfortunately, my real estate agent explained that those items would be hard to find with my budget. I want every homeowner to know what they might be able to expect with their budget, which is why I am putting up this blog. By educating yourself, you might be able to find the right home a little sooner, and avoid wasting time.