All home sellers dream of being caught in a bidding war. Two or more determined buyers that keep raising their purchase offers in an effort to outbid other interested parties and become the proud new owner of your home place Destin home sellers in an enviable position. What South Walton home seller wouldn’t love to find a buyer willing to pay top dollar for their home?
While not as common today as it was before the housing bubble burst and the recession descended, some Destin, South Walton and Panama City Beach home sellers do find themselves in the enviable position of entertaining multiple offers from prospective home buyers. Negotiating a home sale with multiple bidders is more than a matter of simply accepting the highest offer. There are a number of things Destin home sellers should consider in evaluating competing bids and negotiating the sale of their home.
Do not allow yourself to be blinded by the amount of a bidder’s offer. It is important to take into consideration the buyer’s financing status. Buyers that have been prequalified by their mortgage lenders are less likely to experience loan issues that can complicate or delay the closing of a Destin home sale. Sellers can also find it more advantageous to accept the offer of a buyer that doesn’t request home improvements or contract contingencies, even if their bid is slightly lower.
If you find yourself in the enviable position of receiving multiple bids for your home, turn to your Destin Realtor for advice and assistance in evaluating competing bids. Your Destin Realtor will be able to point out financing or contract issues that give one buyer the advantage over others. Rely on the expertise of your Destin real estate agent to guide you in negotiating the most favorable sales contract.