It’s exactly what you were hoping for when you listed your Cumming GA house for sale: multiple offers! They’ve just been submitted, and now you get to choose which offer is the best one. The highest dollar amount may look like the instant winner, but that first reaction should be put aside while all the included provisions are given thoughtful consideration.
If the purchase price offered is the only major difference, the decision can be an easy one—but that’s seldom the case. Your house sale’s net yield can be greatly affected by the offer details —considerations like these:
TIMING – if the proposed closing date will arrive too soon OR too far in the future, accepting it may prove more costly than you’d think. It depends on the move-in date for your next home—especially if that’s up in the air. Gaps can be costly—especially if it winds up forcing you into a too-hasty (or too expensive) choice for your next home.
CASH or ??— “All-cash” offers sound appealing, but some cash offers aren’t as open-and-shut as the term implies—such as those funded by a loan that’s not contingent on the sale (perhaps from a 401k). If that offer is based on a line of credit, there might be less certainty than another based on cash in the bank. Your real estate agent should request “Proof of Funds” be provided before you jump on a cash offer over an offer with strong pre-approved financing.
CONTINGENCIES —The standard contingencies (like inspection, financing, appraisal, or sale of the buyer’s property) obviously stand to affect the sale—or even whether the sale actually closes. That’s why, when they’re waived by a buyer in the multiple-offer situation, they’re intended to beat out competing offers. This is a point of negotiation and the main reason you need a strong, experienced agent representing you!
The details of multiple offers are frequently dissimilar enough to make it extremely important that they be thoughtfully weighed out — something made more demanding since they seldom lend themselves to an apples-to-apples analysis.
Truth be told, even when a single offer comes in, the same scrutiny applies. When I’m your Realtor®, I’ll be by your side, adding a dose of real-world Cumming GA real estate closing experience to the analysis. Call me!
This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.
I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate