So you’ve listed and shown your house a couple of times, and now offers are starting to roll in. But how do you evaluate offers and determine which one is best or right? Price is not the only (or even the primary) factor involved in choosing the right offer-the amount of an offer. As well as certain risk factors, you also have to evaluate the buyer. Here’s an overview of how to choose the right offer when selling your house in Irvine, to help you choose wisely.
Maximize Your Profit
Naturally, nearly all home sellers are looking to sell at the highest price possible. But the highest bid doesn’t necessarily correspond to maximum profit. So maybe you shouldn’t really jump on the first all-cash offer or the first fairly high one. When it comes to choosing the right offer, there is more to consider.
It’s best to avoid taking offer prices strictly at face value in order to choose the correct offer that maximizes profit. You will need to take the rates that the buyers can pay and deduct the costs of taxes, fees, mortgage loan interest, and closing costs that you will have to pay on their behalf and the expense of additional home improvements to figure out how much you will gain by selling your property.
It is also a good idea to consult with your Irvine agent for assistance in evaluating profit maximization offers. Just call (714) 701-8210 to find out more about this.
Minimize the Concessions
In addition, you need to look at which one minimizes concessions in order to choose the correct offer when selling your house in Irvine. This will also help maximize profit, and as the seller, it will simply make everything easier on you.
A better offer is likely to be an offer that requires less from you in the way of paying closing costs, making repairs, or enduring the delay of various contingencies. “By having to fork over a large percentage towards the closing costs of the buyer or spend too much on last-minute renovations requested by the buyer, you don’t want to reduce the proceeds from your Irvine home sale.”
Look for Flexibility in an Offer
More flexibility in an offer can sometimes make it the correct offer. The one that promises, for instance, a swift closing may be the right offer if you get several offers, with all other things being equal. So look for the versatility that, as the seller, best suits your needs.
Here’s what industry pros have to tell that when selling your house in Irvine, you should select the right offer: “The person who is willing to close in a few weeks will seem more appealing than someone who wants to wait a few months before becoming the new owner of your home if you can’t decide between different offers. And if a homebuyer says that before they can buy yours, he or she has to sell their old property, that could be too unpredictable for your needs.”
Keep Your Emotions Out of It
Setting your feelings aside is one of the best things you can do to help you choose the right deal. This is purely a commercial transaction, and it should be held on a fair, objective basis.
If, say, you’ve lived in a house for years or perhaps it belonged to a now-deceased relative, it’s all too tempting to let your assessment of offers cloud feelings, which can lead to a blow to your earnings. Sellers are also insulted in this case because their sentimental connection to the house gives them an exaggerated sense of its value because of what they consider as a low-ball.
This is another area where the support of your agent can be a big help. A good agent will always look after your best interests and allow you to remain objective in terms of offers.
Start With Your Local Irvine Agent
Although this is the first thing that you can do to help you choose the right bid, because it’s so significant, we put it in the position of prominence at the end.
It’s a good idea to draw up a list of your goals as a seller before even listing your property, and then discuss them with your agent. When your agent knows exactly what’s important to you, she will better assist you in assessing deals and determining the best one for you. So let your agent know if you want an early closing, the best possible sale price, or no liability for closing costs, whatever is most important to you.
Then it’s time to move on with listing and marketing after having all of this hammered out with your agent. A good agent Irvine would do a lot more for you than just listing your house and showing it. So, when selling your house in Irvine, to make sure you choose the right bid, contact us today at (714) 701-8210.