Coldwell Banker Residential Brokerage
Diana Gould, GRI, Coldwell Banker Residential Brokerage
Email: [email protected]

How to Decide Which Offer to Choose for Your Home

by Diana Gould, GRI 10/06/2019

When selling your home you may receive many offers from different buyers, but the smart move isn’t always to pick the highest bidder. Selling a home goes beyond just picking the largest dollar amount; there are other factors to consider while selling your house and how they influence your decision:

Contingencies

Most home-sale offers come with certain contingencies before they can go through. These contingencies are certain conditions that must take place within a specific time-frame for the sale to be successful. You should pick the offer with the least number of contingencies and the shortest periods stipulated. Typical contingencies include a home inspection, approval for a mortgage and the home appraisal. When there is an inspection contingency, the buyer can withdraw his offer depending on how the inspection goes. Financial contingencies also allow the buyer to stop the purchase if they do not get a mortgage approved early enough.

All-cash offers

The best kind of offer is one that is offering cash up front. The offer may not be the highest, but it is guaranteed to go through because you don’t have to worry about a bank financing application that may or may not be approved.

Buyer pre-approval

Few people can afford to pay cash upfront for your home. The next best set of people are those who already have a pre-approval letter from their lender. This letter means that they can get a loan whenever they are ready. A buyer with a pre-approval implies that they already have everything necessary to get a credit and so the process following the offer will not be as difficult as it is for someone without a pre-approval.

Loan type

There are many kinds of mortgages, and if a mortgage from a bank backs your buyer's offer, then it is not going to be complicated. If the buyer is using an FHA loan or another government-backed credit facility, it could become involved with more processes and requirements.

Closing timelines

Everyone wants to close the process as quickly as possible and move along to other things. If the buyer wants to close immediately or under thirty days, then that is the perfect situation. You could also need some time especially if you are buying another house and would like it to be ready before moving in. Work with the offer that offers you the best timelines for your plans.

Price matters, but a lot of other things matter too when considering offers for your home. Discuss these with your real estate agent to help you decide which offer will work best for you.

About the Author
Author

Diana Gould, GRI

Diana Gould is truly dedicated to providing exceptional, professional and comprehensive real estate services to her valued clients. She is very astute and highly skilled in the Acquisition and Marketing of Residential and Distinctive Luxury Properties. From Greenwich to Trumbull, Diana’s intimate knowledge of the distinctive communities of Lower Fairfield County is invaluable. In helping her clients to find their dream home or sell their special residence; Diana clearly distinguishes herself with proven results as she brings her client’s real estate dreams to life! As a Global Luxury Specialist, Diana excels at providing insightful, comprehensive guidance and marketing applications that produce results. Due to her extensive background as an CPA, she takes great care to educate and advise their clients with valuable analytical information and an informed and in-depth understanding of the current real estate market. When working with sellers, she implements effective and resourceful marketing strategies that clearly accentuate each property’s specific features. Skillfully taking every measure to position the seller’s property to stand out in the market place, she designs a beautiful presentation that incorporates professional photography, refined staging services and extensive visibility on multiple internet sites. Regardless of the time and effort it takes, when working with buyers, she works tirelessly to identify key opportunities that meet their lifestyle requirements. In serving her clients just newly relocating to the area, she is extremely diligent in seeing that their needs are thoroughly attended to and provides them with an insightful perspective into each community within the region. Diana’s clients trust in her integrity and insight and value her timely guidance and expertise in addressing all aspects of the transaction with professional competence. She is very thorough in providing constant communication about each important detail of the transaction and is always extremely attentive, accessible and responds promptly to her clients. Her attention to detail, consistent follow through and determination to indulge her clients with first class service sets her apart. She always strives to negotiate the best terms for her clients and when met with a tough challenge she is very creative, strategic and skillful in working through the issues. Diana ultimately ensures that each client receives outstanding counsel and exceptional representation in her efforts to accomplish their personal real estate goals. Diana further distinguishes herself with the following designations: Graduate Realtor Institute (GRI) and Certified Relocation Specialist (CRS) and Smart Home Certified.