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How to Review Seller’s Market Offers in COLUMBIA (And Around the 29201 Zip Code)

Seller’s markets come and go. If you’re selling your house in COLUMBIA or around the 29201 zipcode during a seller’s market, then you might get multiple offers. Here’s how to review seller’s market offers in COLUMBIA…

A seller’s market is when there are more buyers and fewer properties. For sellers, it’s an exciting time to sell because you may be able to get a higher asking price. You might also get multiple offers on your house at once.

If you’re selling your house and you received multiple offers, you might be asking yourself, “now what do I do?” Although multiple offers might be exciting to receive, it can also be overwhelming. Fortunately, there are 4 things you can do to help ease the burden and approach your multiple offers to your greatest advantage…

How To Review Seller’s Market Offers In COLUMBIA

First, sort the offers into those who are ready to buy and those who are buying contingent on something else. Some people put offers on houses contingent on them getting approved for a mortgage or contingent on them selling their house.

You don’t have discard the contingent group but it’s often easier and faster to work with someone who doesn’t buy based on a contingency.

Second, sort the remaining ones based on which is more important to you – either the speed of the sale or the price. (For some sellers, a faster sale is more important than a higher price). Of course, both are important but usually one will be more important than the other.

  • If speed is important to you, sort the offers by the ones who are closest to the timeline you want to move in.
  • If price is important to you, sort the offers by the ones that are highest to lowest in terms of price.

Third, if you have several that match your preference above (such as: if you want to move by the end of the month and you have several offers that work within that timeline) then sort by the ones that don’t add any conditions. The more conditions a buyer adds, the more work it may be for you.

By the end, you’ll have a pile of offers – at the top will be the ones that offer the best speed or price (whatever is more important to you), the least conditions, and are ready to buy right away. And at the bottom are those who aren’t ready to buy because they have contingencies.

Once you’ve sorted your offers this way, start working through them from the top, making counter offers from a position of strength!

When faced with multiple offers on your house, it’s crucial to strategically sort them to streamline the decision-making process and maximize your chances of securing the best deal. The first step is to categorize offers into two groups: those ready to buy and those contingent on certain conditions. Offers contingent on factors like mortgage approval or selling another property may introduce uncertainty and potential delays in the selling process.

Once you’ve separated the contingent offers, you can then prioritize based on your primary objective: speed of sale or price. If speed is your priority, arrange the offers according to their alignment with your desired timeline. For instance, if you aim to move by the end of the month, prioritize offers that can accommodate this schedule. On the other hand, if maximizing the sale price is paramount, sort the offers from the highest to lowest in terms of price.

In scenarios where multiple offers meet your preferred criteria, such as fitting within your desired timeline or offering competitive prices, consider the level of conditions attached. Offers with fewer contingencies typically involve less complexity and potential hurdles, making them more appealing. Therefore, prioritize offers that come with minimal or no additional conditions.

By systematically sorting the offers based on readiness to buy, alignment with your priority (speed or price), and level of conditions, you’ll create a structured hierarchy. This approach enables you to focus your attention on offers that offer the best combination of speed, price, and simplicity. Starting from the top of this sorted list, you can confidently engage with potential buyers, leveraging your position to negotiate counter offers effectively and secure the most advantageous deal for your property.

If this is overwhelming if you don’t have as many offers as you’d like, or if you don’t have the offers that you want, there is another way to sell: you can sell directly to us at Intrepid Property Solutions.

We buy houses in the 29201 zip code and all around the COLUMBIA area. Get in touch with your office at 803-670-8355 or click here and enter your information to get a fair cash offer from us today.

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