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How Sellers Should Handle Multiple Offer Situations
Multiple offer situations have not been very common in the last few years in Louisville because we found ourselves in a large buyer's market. However, as we move towards a seller's market I would like to give some advice on how to handle multiple offer situations when you're selling a home.
Getting multiple offers on your property is a great thing to have, but you will always need to look over those offers with a professional real estate agent. A professional agent will help you to determine the strength of the offer which will include: financing, down payment, cash offers vs financed offers, and much more.
I would also recommend not accepting any offers on your home if they do not have an approval letter from the lender that state that they accept the terms of the contract and will be able to finance the purchase of the home.
You should also be wary of the timing of your home inspections. I would set aside 7-14 days for home inspections to occur, but I would not want to wait any longer than that.
What I want all of my sellers to know is that you do not have to respond to any offers whatsoever. If you see an offer that you really don't like, then you are allowed to simply ignore it. You do not have to respond to every offer that you receive.
There are a lot of different considerations that can be made when handling multiple offers as a seller in Louisville. If you are confused about the information above or would like to know how I go about handling multiple offers, then please do not hesitate to contact me or my team.
