Home Seller’s Guide: 3 Critical Factors to Consider While Evaluating Multiple Buyer Offers

Home Seller’s Guide: 3 Critical Factors to Consider While Evaluating Multiple Buyer Offers

It’s a hot seller’s market here in Connecticut. Homes are selling like hotcakes in New Britain, Middlesex, Tolland, Hartford, New London, New Haven, and other major cities in Connecticut. Homes are getting picked up as soon as they hit the market. As a seller, that isn’t a bad problem to have! You have one last hurdle to cross before you pop open the champagne and pat yourself on the back for a successful sale.

With so many buyer offers, which one should you accept? Which offer helps you sell a house fast in Connecticut? Which offer should you take to complete the sale without any hassles? These are a few critical questions that you need to consider.

You might be tempted to go with the first or highest buyer offer. But there’s more to evaluating buyer offers than just checking the offer price. In this post, we’ve rounded up some of the best advice from real estate experts here at BlueCrest Property Group. We’ll teach you how to evaluate offers and help you complete the sale without any hassles and for maximum profits.

3 Factors to Consider When Evaluating Multiple Buyer Offers

  • Speed

How soon does the buyer want to complete the sale? Start by looking at the proposed date of possession. Does it align with your moving timeline? If it’s too soon, you might have to find alternative housing and temporary storage facilities before moving to your next residence.

Check if the buyer is flexible with the moving timeline. Sometimes buyers have a fixed deadline because they are starting a new job or sending kids to school. If this is the case, the buyer is unlikely to negotiate the timeline with you.

  • Certainty

The next factor to consider is how sure the sale is. If the buyer is pre-approved or pre-qualified for a mortgage, there are lesser risks of the deal falling through. Just because a buyer is pre-qualified, it doesn’t mean that they are guaranteed a mortgage.

The better alternative is to choose an all-cash offer. An all-cash deal is where buyers pay the selling price directly to your account in a cash deal. Another benefit of transacting with cash home buyers in Connecticut is that the sale can be completed as quickly as within a month. Connecting with cash buyers is your best bet if you’re looking for a quick sale.

  • Price

Ultimately, it all comes down to the price. Every home seller wants to sell their property for maximum profits, and there’s nothing wrong with that. Here are a few factors to consider while evaluating the offer price:

  • Who pays the closing costs? Generally, both buyers and sellers share the closing costs. Cash buyers often volunteer to pay the closing costs to convince sellers to choose them.
  • Besides closing costs, there are other fees to be negotiated. These expenses include HOA transfer fees, home warranty fees, owner’s title policy, recording fees, and title insurance fees. Make sure to factor in all these fees while evaluating offers.
  • Is the buyer willing to pay the survey costs? Both buyers and sellers can pay this fee. Check with the buyer if they are ready to foot the bill for survey coverage.

Consider speed, certainty, and price while evaluating buyer offers and selecting the best offer. If you’re looking to simplify the home selling process, reach out to Blue Crest Property Group.

With years of experience buying homes in New Britain, Middlesex, Tolland, Hartford, New London, New Haven, and other major cities in Connecticut, we’ll help you. From inspecting your home to providing you with a free cash offer, you’ve got a trusted partner to guide you through the home selling process. Connect with our team and kick-start the home selling process.

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