Seller Be Aware - Multiple offer situation

Seller Be Aware - Multiple offer situation

Hello, my dear homeowners. If you are thinking of selling your home, be aware of this. 

These days you will get multiple offers. A couple of things to consider, because multiple offers with the highest price is not everything. My job is to do this video to let you know about some hidden clause or hidden things can make you lose on the price at the end of the contract or when you close it. So, what happens when you get multiple offers on your property, when you're selling? Sometimes, it happens that you may end up picking up the wrong contract. So, it's very important not to rush, even if you have 10 or 20 offers. Analyze all the offers and make sure more than everything, the one you pick is the strongest one.

Number one. If it's a financed offer, make sure your Realtor speaks with the mortgage lender and get all the details possible about this buyer's loan and all the criteria. The other thing is, sometimes some buyers' agents are offering very high prices to knock off all the contracts.

And some other agents, who are very practical, very professional, will not offer you like, knocking everyone. They'll be practically with you. And then you may lose out that good professional Realtor's offer who can really close and get the highest and the best price and not going for that illusion offer. And what happens here, they will make you the highest offer, but they know you have to go through the appraisal process and then when the appraisal comes, you lose. So in this kind of situation, we reach out to the buyer's agent and talk to the buyer and get a guarantee on the price. If the buyer wants to pay some difference on top of the appraisal in the event if appraisal comes lower.

So there's some negotiation here. I can definitely discuss all the details if we talk because there's so much time in the video. The other thing is the inspection. Now a lot of time, for the inspection, they keep it longer and then they drag it. They negotiate back and forth. So be careful of that too. All these things, you have to make sure that the main thing is I wanted to tell you that pick the strongest offer in all aspects. Don't just go for someone who made an offer with the highest price only. Sometimes, it may not have that much value. You rather go with a strong financed offer, with a larger down payment. So you see the commitment. Shorter inspection period, another commitment, shorter loan commitment period. That's another strong commitment from the buyer. And all these things you get to see when there's a multiple offer situation. So don't just go with the highest price somebody is offering. Hopefully this video is going to help you pick the right offer for your property. So, you don't lose out at the end.

Feel free to give me a call. My number is right here at the end of the video. Shawn Bhakta from RE/MAX Presidential. I'll be glad to answer any of your questions.

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