If you are selling your Ocala house in a seller’s market, you’re probably expecting to get an offer very soon… but once you get an offer, what should you do? In this blog post you’ll read how to prepare for offers in a seller’s market in Ocala…
In a seller’s market, you’re almost certain to get more than one offer on your house. But what should you do when you get them? Accept it? Negotiate? How? What should you do?
When it comes to accepting offers in a seller’s market, it’s best to be prepared. Here’s how to prepare for offers in a seller’s market…
How To Prepare
1. Decide on the criteria.
Ask yourself what’s most important to you. For example, do you want to sell quickly and get a fast possession date? Or maybe you want to get a high selling price. Yes, both of those might be important to you but one of them will be more important, so determine which is most important for you.
2. What do you want for a bottom-line price?
In a seller’s market, you may get a higher price than your bottom-line price but it’s also very common for property owners to accidentally over-estimate the price they think they’ll get on their house. Therefore, determine your bottom-line price. Chances are, you’ll get an offer somewhere between your bottom-line price and your preferred price. Be prepared in a seller’s market to get multiple offers over your asking price. Now that you have offers over asking price look at thow they are paying for it. Is it a cash sale ( the strongest) or is it bank financed. With bank financing you’ll want to take conventional over FHA, VA or USDA financing.
3. What possession date you want?
You might want to move right away, for example, but you could potentially open yourself up to better offers if you don’t press for a specific possession date but instead find out what buyers are willing to offer.
4. Remember that you’re still the seller.
Even though it’s a seller’s market, remember that the buyer is still the one with the money and they could decide to buy a different house. Decide which terms and conditions are absolutely imperative for you and which ones you’re more flexible on. That way, if a buyer has all the money and no contingencies and is willing to close within your preferred timeline, you can work with any conditions they may have.
Summary
In a seller’s market, it’s often thought that the seller has the advantage but there are times when you might want to sell now instead of putting your house up for sale, cleaning it up, and seeing what buyers will offer.