How to Choose The Best Offer for your home?
When you put your house for sale, you might get several offers. The condition is to choose the right buyer. You might be confused about how to choose the best offer on your home in Canberra, Australia.
There are several aspects of selling your home which we will be discussing in this article, and by the end of this article, you’ll get to know how to make the right choice.
Things to keep in mind before selling your house:
The Canberra real estate market is never constant. However, there are several things you should consider to make the best out of the deal.
- First, give time to think about the reasons that why you want to sell your house. There might be personal problems (job transfer, divorce, or anything else) due to which you are willing to sell your house as soon as possible.
- Do not hesitate to share all issues with your real estate agent because they are the only person who can help you get an offer as per your situation.
- If you do not want to spend extra money, do not go for clients who request more repairs before paying for your property because it might cost you more.
How to choose ‘the best buyer’
Check your buyer’s contingencies –
Every buyer has some contingencies (the conditions before paying for the house). These might be things like inspection of the home or property evaluation, buyer’s financing, etc.
To avoid defects in the home, go for the buyers who have fewer contingencies, which are relevant to their existing home. Many contingencies might be risky for the seller (if the buyer asks for more time for inspection, they might find issues to be fixed, and then you (seller) will have to repair them.
The expert Canberra real estate agents say that if they have two buyers paying the same price and one has more contingencies, they prefer the other for their seller.
The first offer is not always best –
Don’t go for the first buyer. Even if they are bidding you a good price, remember that money is not the only thing you have to look after. So, give some time until more offers come in but, do not wait till too long as it might lower your Canberra home’s cost.
In any case, you’re in a hurry to move; the first offer should be considered if:
- It is a financially beneficial offer, i.e., the buyer has fewer contingencies and smoother transactions.
- Your Canberra home has high prices, which might result in fewer buyer polls.
- You’ve less time for selling.
- Remember not to make a decision based on emotions and always treat it like a business.
- When you finally consider any offers, check which one you should go for –Based on the locality, facilities like school and medical facilities, you might get multiple offers in less time and if you like any one of them, ensure which the best by looking for these things in the buyer:
- Go to the buyer who does not have many requests for inspection, finance, etc.
- Buyer should be financially strong (has original qualification letter from mortgage lender etc., makes higher down payment).
- Buyer provides you with the flexibility to stay at home without rent if your new residential place is still not ready to live in.
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