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5 Tips For Sellers When Evaluating Multiple Offers

5 Tips For Sellers When Evaluating Multiple Offers

5 Tips For Sellers When Evaluating Multiple Offers
(Dreamstime)

Owning a property in some of the real estate hotspots is like hitting a goldmine. Once you are up and ready to sell this property, be prepared to be flooded with multiple offers. Every homebuyer trying to woo you in different ways and ensuring that they are the best bet.

MakaaniQ lists tips that will help you evaluate multiple offers and choose a homebuyer who deserves to own the property:

A buyer who is genuinely interested

Begin with shortlisting buyers that showed genuine interest in your property. With the price tag you put, they negotiated a bit, made multiple visits, asked questions about the property, locality and prospects, has hired an agent and even performed home inspection. These signs show the interest of the buyer as he is putting his money and time into the property-buying process.

The financial backing

This is key. You don't want the deal to fall out at the end because the homebuyer was denied home loan. Prefer a homebuyer with a pre-approved home loan, pick on a homebuyer who is willing to pay the said down payment and also, has had a strong credit score. Ask a few questions from the potential homebuyers and the ones with a strong financial standing won't hesitate.

Take in the best offer

Once you have shortlisted a few potential homebuyers, communicate with them. Get the best offer from all and take time to review them. Once you have picked up the best offer, share with the others if they have a change in plan. But, remember to pick not just the best offer but also a homebuyer that fits all your criteria of being a genuine one.

Background check

When selling your property, along with a good offer, it is equally important to join hands with a homebuyer with a clean background. Let your broker do the same and understand how the homebuyer is in terms of his financial, employment and legal status. Also, you could do a one-on-one check with the neighbours where the homebuyer is currently living.

Consult the broker

It is important to keep communicating with the broker and in fact, sit with him when evaluating. Having worked with multiple buyers and sellers, they have a detailed eye and know how to help you make a choice.

Also Read: Can Residential Property Be Put To Commercial Use?

Last Updated: Wed May 31 2017

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