If you’re getting ready to list your home during a seller’s market, conditions are ideal to sell your home. But don’t think that means anything goes. You’ll still have to price competitive if you want the offers to really start rolling in. This guide will cover a few tips on how to review seller’s market offers in Stockton.
Every now and again, a seller’s market crops up in Stockton. This occurs when there are more buyers than available homes, meaning sellers have more freedom over pricing. That’s exciting news for house sellers, who can expect higher asking prices and more offers than they’d normally receive.
But getting multiple offers might bring you to a new dilemma: which offer should you take? Is it worth making a counteroffer or should you play it safe? It’s hard to review offers, but hopefully, this guide will shine some light on the process. Here’s how to review seller’s market offers in Stockton.
How to Review Seller’s Market Offers in Stockton
1. Organize Buyers into Two Categories
Getting too many offers is a pretty good problem to have, but it can get overwhelming. Before you review all of the offers, go ahead and organize them into two categories:
- People who are ready to buy now
- People who made contingent offers
By “contingent offer” I mean people whose offers depend on getting approved for a mortgage or selling their own home. These buyers are valuable but risky. On the one hand, they may make a good offer. On the other, they’ll back out if their plans fall through. Who knows if your other buyers will still be interested in them. You don’t have to discard the contingent group, just recognize the added risk during your review.
2. Sort the List by Importance
Now that you have you listed organized, look over the offers and rank them based on how good the offer is. That doesn’t just mean how much money they’re willing to give you – consider all of the factors that are important to you like how quickly you could close the deal with them. If speed is important to you, then you’ll want to sort the offers by the earliest move-in dates. If price is important to you, then sort the offers from highest to lowest. You can also strike a balance between both price and speed.
If you have several that match your preferences, (for instance, if multiple offers work with your timeline) then sort by the ones that don’t add any added conditions. The more conditions a buyer adds, the more work it may be for you, and the riskier a pursuing a deal might be. Let’s see the next to review seller’s market offers.
3. Sweeten the Deal
By now, you should have a pile of offers organized by importance. The top of the list will include the fasted and highest paying deals with minimal conditions – this is the hotspot you’re looking for. Start working through the top few candidates. Now you can confidently make (reasonable) counteroffers from a position of strength. When the time comes to settle on an offer, you can rest assured that it’s as good as you can get.
If all of this sounds like too much work and worry, or if you don’t have as many offers as you’d like, don’t worry. There’s an alternative selling method that can sell your home now for an all-cash offer. By selling directly to a house buying company, like what we do at MCB Homes Inc., you can sell your home for an honest price and move on with your life.
