How Should You Handle Multiple Offers When Selling Your Home?

With Atlanta real estate inventory near all time lows, it’s a great time to list your home for sale in Roswell, Marietta, Kennesaw, and other North Atlanta areas due to increasing demand and low interest rates. However, this type of situation also brings a welcome but perplexing problem for many sellers – how should you handle multiple offers on your home?

Prepare to sell

First, even with high demand and low inventory in the local real estate market, it’s important to make sure you are prepared for sale.  Buyers still want a good deal and if your home is not in top condition you’ll miss out out on any offers.  Do the necessary repairs, clean and de-clutter and and make your home attractive to stand out.  These will help increase the number of showings you get, generating more interest and potentially resulting in more offers.

Should you take the first offer on your home?high real estate demand means higher prices

Deciding whether or not to take the first offer can be tricky, which is why it’s important to work with an experienced Realtor. There are a number of factors to consider when dealing with multiple offers, including type of financing the buyer is using, time to close, contingencies as well as price and concessions. The best offer is where everyone wins. Beware of declining an offer that may be slightly lower in price but without any convoluted contingencies or concessions.  In the end, an offer that can close quickly and easily is better than one that offers a higher price but requires a team of attorneys and accountants to decipher.

Don’t try to play buyers

You need to be careful not to play buyers off each other. It’s OK to ask for “highest and best” when several parties are interested. However, if you try to play them by delaying one decision until you get another deal or by dodging questions, real estate agents will not want to show your house. Trust your Realtor to negotiate on your behalf. A real estate professional has much more experience in negotiating and in the overall home sale process, so use their experience and knowledge to your advantage.

If you are selling a home in Roswell, Kennesaw, Smyrna, or elsewhere in North Atlanta, contact me, Barry Wolfert Associate Broker at Keller Williams Realty Consultants, today. As an experienced real estate professional, I have the market knowledge and know how to help you navigate multiple offers and sell your home for the most money in the least time.

 

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