Knowing When to Accept the Buyer’s Offer

Posted by Destin Real Estate Sales on Thursday, March 22nd, 2012 at 8:58pm.

When Destin, Florida home owners sell their homes, they have two goals: 
  1. Sell their home as quickly as possible, and 
  2. Obtain the best price possible.

In today’s housing market, South Walton home owners are often conflicted about whether they should accept a buyer’s offer or keep their home on the market a little longer in the hopes of receiving a better offer. The risk in accepting an early offer, especially if it is well below your asking price, is that you may be minimizing potential financial gain. You might get a more reasonable offer by waiting. This can be a critical decision if you’re counting on the sale of your Destin home to finance the purchase of another home. Accepting a low offer can jeopardize the purchase of your new home.

On the other hand, with the housing market still recovering from the economic downturn, many Destin home sellers fear that if they don’t accept the first offer they receive, they’ll run the risk of not selling their home. They worry that their home may languish on the market forcing them to eventually decrease the price significantly. That kind of fear-driven thinking can lead home owners to accept a bid that is well below their asking price. However, the timing of the sale can be an overriding factor if the home seller is relocating or if his purchase of a new home is contingent on the sale of his present home. The financial disadvantage of paying two mortgages while waiting for one home to sell after moving into a new home can also prod a home seller to accept a lower bid in favor of a faster sale.
When you receive a bid on your home, your Destin realtor [ can give you a realistic picture of the housing market in your specific neighborhood and help you weigh your options. 

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