If you are trying to sell your Stockton house in a seller’s market, you’re goal is probably to get an offer as soon as possible so that you can move on to your next step in life… once you get an offer, what should you do? In this blog post you’ll read how to prepare for the home buying offer in a seller’s market in Stockton and tips on how to handle the process…
In a seller’s market, you’re almost certain to get an offer on your house, but will it be an offer your looking for? What should you do when you get an offer? Do you just play it safe and accept it? Do you gamble and try to negotiate? How should you handle this process? What should you do?
When it comes to accepting or negotiating offers in a seller’s market, it’s always best to be prepared. Here’s how to prepare for the home buying offer in a seller’s market in Stockton…
How To Prepare For The Home Buying Offer In A Seller’s Market In Stockton
First, decide on the criteria that you want in the offer.
Ask yourself what’s most important to you. For example, do you want to sell quickly and get a fast possession date so that you don’t loose the buyer? But will you be leaving money on the table? Or maybe you want to get a high selling price and take a little or a lot of risk by gambling a bit and countering offers. Will a best and final counter offer turn off a buyer and cause you to you loose the deal? Will they take your counter as an insult and make them not want to buy your house? Yes, both of those decisions might be important to you but one of them will be more important, so determine which is most important for you.
Second, think about what 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. It’s very important to look at comparable houses for sale in your market and their condition vs your houses condition. I have personally made that emotional decision and over priced my house, then I got no activity, no one came to look at it and it didn’t sell. In fact, I had to pull it off the market and wait until the fallowing year to re-list it at an appropriate price. It was a huge set back for what I was trying to accomplish and I had to continue to pay the mortgage during that time. It was a hard lesson learned. Therefore, determine your bottom-line price. Chances are, you’ll get an offer somewhere between your bottom-line price and your preferred price.
Third, think about the possession date you want and consider any flexibility you have.
You might want to move right away, for example, you may be relocating for a new job or retiring and moving to a new state. 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 and see how you can make it work with in your timeline. Make sure you consider whats more important to you though, timing or price? Sometimes we cant have both, do choose wisely so that you don’t miss an opportunity to sell.
Fourth, 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, if you’re unwilling to be reasonable. 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.
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.
That’s why we offer a house buying service at MCB Homes Inc.. We’ll give you a cash offer on your CA house. Just call our team at (209) 743-0602 or click here and enter your information on the form, and we’ll be in touch.