top of page

Sellers Beware: The Highest Offer Isn’t Always The Best Offer

brandinord

Choose wisely when accepting offers while selling your house. Quality is better than quantity. You may receive some offers above the asking price in a seller's market. Don't just focus on the top dollar amount. There are a lot of other potential liabilities, so be sure to get appraisal gap insurance.



Once you have been offered a price on your home, ensure the buyer is well qualified. Have your selling agent contact the buyer's lender to know they are qualified for the offer amount. Also, look at the buyer’s lender letter, and make sure that the date is recent. If it is a month old, the buyer could be qualified at a lower interest rate than today's rate. Interest rates are moving up very quickly. In fact, it has risen over 2% just in the last few months, so make sure that the lender letter is no older than one week.


Your personal circumstances should dictate what defines the best offer. Is it the highest price offered? Is it a cash offer with a quick closing? Is it when the buyer has strong financing and cash reserves? Put all these considerations onto a scale and determine what you are comfortable with. It is an excellent conversation you need to have with your selling agent when offers come in.


If you have any further questions, don’t hesitate to reach out at chadwick@DenverRealEstatePro.com or visit https://www.denverrealestatepro.com/. Chadwick is happy to answer any questions that you may have.


Comments


THE REALTOR IS IN

HOW CAN WE HELP?

Thanks for submitting!

Denver Real Estate Professionals
1123 Auraria Parkway, STE 100
Denver, CO 80204
equal-housing-opportunity-logo-1200w.png

EQUAL HOUSING PARTNER

All real estate advertised herein is subject to the Federal Fair Housing Act, which makes it illegal to advertise any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status, or national origin, or intent to make any such preferences, limitation, or discrimination.

office_R_white.png

REALTOR MEMBER

  • Facebook Denver Real Estate Pro
  • Instagram Shangela Sells Denver
  • LinkedIn Denver Real Estate Pro
  • YouTube Denver Real Estate Pro
bottom of page