When you have a Home For Sale in NW Indiana, and 2 offers to purchase come in from different buyers, the seller must make a choice!
Multiple offers occur with homes for sale that are usually:
1. Priced Competitively (Buyers are savvy nowadays and rarely make offers on overpriced homes, especially when their Buyer agent shares neighborhood com-parables).
2. Staged to Sell - If Price is King, Condition is Queen. Homes than "need work" usually have longer market times. Many of today's buyers like "Move In Ready" Homes. To paraphrase one Talk To Tucker Agent -"The way You LIVE in Your Home is not the way you SELL your home".
3. Desirability of Location Location Location. This variable you cannot change as a seller.
Homes that are desirable (price, condition, location) attract multiple buyers and can get multiple offers.
When there are Multiple Offers on your Northwest Indiana Home For sale?
What Factors, beside PRICE, may a seller want to seriously consider?
#1 Strength of the BUYER - Getting a Loan is not what it used to be. Recently an article described that 1 of 4 home mortage loan applicants are being rejected!
There is a big difference between Pre-qualified vs. Pre-Approved Buyers ! Cash offers differ.
# 2 Contingencies - Besides the Financing and Inspection Contingencies, if both offers happen to have a Contingency on the Sale of the Buyers Property - this needs to be looked at carefully. Factors such as : Is the Buyers Property Professionally represented (LISTED) by a Full Time, Full Service REALTOR or is it FSBO?
Running a Cumulative Market Conditions Detailed Report of the Buyers neighborhood can revel statistical data to show Absorption Rates and other important data to consider.
# 3 Other Terms and Conditions written into the offer to purchase that affect the Seller : Concessions, Closing and Possession etc...to name just a few.
These are just some factors that go into deciding whether an offer to purchase should be accepted, rejected or countered...
A seasoned professional REALTOR can research and gather data from multiple sources based on their experience to provide to the seller all information available that may help them decide which offer has THE BEST CHANCES OF GETTING TO THE CLOSING TABLE.
If you are looking to Sell your Northwest Indiana Property- Talk to Tucker !
Thanks for stopping by and reading our Blog about Life in NW Indiana, The Housing Market, Communities, Local Sports, Events, attractions & more.
Sincerely,
Jeff & Grace Safrin, Broker / Owners
F.C.Tucker 1st Team Real Estate
13 Lincolnway Suite # 203
Valparaiso, IN 46383
Office # 219-309-9930
serving Lake, Porter, La Porte, Jasper, Newton & Starke Counties in NW Indiana
Independently Owned & Operated
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