It sure is an exciting dilemma to have – when presented with multiple offers, which one do you choose?
There are three main types of offers (Cash, Finance and Subject to Sale, with Auction a whole other dimension of its own). Price is just one component so you need to look at each offer individually on its own merit.
The highest offer will immediately get your attention, however, it isn’t always that straightforward – you need to review it thoroughly as it may not be the best offer overall. Is the offer cash or does the buyer need a mortgage? A buyer with pre-approved finance is stronger than one without… and cash is always king!!
Next to consider are contingencies – these are the conditions that the buyer dictates which may be considered as a ‘get out’ clause to protect their best interests. Mortgage approval, sale of home, valuations, shire approvals, inspections… The fewer there are, the less likely an issue is to occur that may cause the buyer to pull out of the contract.
The length of settlement can also be a major factor depending on the timeframe that suits you best. Is there a lower offer that will fit into your schedule better and be best in the long run?
Don’t forget that the Sales Reps here at Brookwood are always happy to help and will be there to assist you consider the pros and cons of each offer. After all, we want to empower you to make the best possible decision as to which contract you choose to sign!