When selling your Alpharetta home, you may receive multiple offers on your property. While this is a thrilling moment, it can also be stressful as now you must choose the best offer. While an offer over the asking price is a big bonus, it shouldn’t be the only reason you accept one offer over another.
Here are a few tips to help you pick the best offer on your property.
Look at the Contingencies
Many offers will include some type of contingency. There are many common contingencies such as:
- The buyer must sell their current home prior to the closing date.
- All financing can be obtained by a lender.
- The home inspection doesn’t reveal any issues the buyer was not aware of and all needed repairs must be worked out between the buyer and seller.
- There are no issues with the title of the home.
If there is a long list of contingencies included in an offer, be cautious. This means that there are several reasons why the sale may fall through. You will want to look closely at all contingencies to improve your chances of a smooth and fast sale.
Consider Cash Buyers
In some situations, you may receive an all-cash offer. If so, these offers should be pushed to the top of your list. An all-cash offer means that the buyer does not have to work with lenders to obtain financing, improving the chances that the sale will go through smoothly and with few hiccups. Obtaining financing is one common cause for home sales to fall through or be delayed. Just make sure the cash is verified before you accept the offer.
Look at the Buyer’s Timeline
As you consider each offer, look at how the buyer’s timeline best matches your own. For example, if you are looking for a fast closing date, you will want to choose a buyer who is willing and able to make that happen. Sometimes the convenience of the buyer’s schedule is worth more than a little extra money.
Don’t Forget the Earnest Money
Never overlook the earnest money that the buyer has provided. Earnest money shows the seriousness of the buyer. The more money that is provided, the harder it is for a buyer to walk away from the deal. You will want to look closely at those deals with large deposits as it can help you feel a little more comfortable with your transaction.
Your real estate agent can be one of your greatest resources when selling your Alpharetta home. If you have any questions, concerns, or worries, work with your agent through this important step in the home-selling process.