Mortgage Articles
House selling tips
Should you wait for a better offer?

House selling tips
Should you wait for a better offer?

Are you missing out on a great offer if you accept the first offer you receive? If the price offered for your property is in your range, consider the real estate market conditions and how quickly you want or need to sell your house.

In a seller's market -- combined with few listings, you may get more offers right away. But in a buyer's market (one with many listings), you risk offending the possible buyer who may then withdraw his offer.

If local practice and custom is to consider all offers as they are received, follow this convention and counter at a higher price. If tradition dictates that no offers will be accepted until after the first open house, you have a little time to consider your alternatives.

House Seller Tip:

In general, it's wise to counter any offer from a qualified home buyer, even if it's for less than the asking price. Some house sellers don't want to waste their time with an offer that looks like it's going nowhere. They would prefer to send a verbal message that the offer isn’t good enough. That’s a mistake, always counter an offer in writing.

Conclusion: It's always wise to work with the purchase offer you have on the table until you're sure there's no way to make a deal. Who knows, you might sell your house even faster...

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