Getting the best offer for your home is key to selling it, but that doesn’t happen by accident.
To ensure you’re getting the best deal possible for your property, you should be as informed as possible about your market and about what buyers are looking for in a home and neighborhood.
Here are three important tips that will help you get the best offer for your home in Edmonton:
1. Be ready to negotiate the price up
Don’t expect your home’s list price to be set in stone. Many sellers set their prices slightly higher than what they would accept in an effort to leave room for negotiating with prospective buyers. This pricing strategy may also attract multiple offers and bidding wars from buyers competing over your home! Be ready and willing to negotiate with buyers when they make offers on your home.
2. Define how you’re going to review the offers
You may have more than one offer to consider, so it’s important to establish a process for reviewing all the offers.
When buyers submit offers, you and your agent must sift through the terms to identify the best one. Here are some things to look for:
Price: This is the most important factor. But if two offers are close in price, other factors may be more important.
Down payment amount: A bigger down payment means less risk for you and your lender, so it’s more likely to result in a better deal for you.
Contingencies: Certain contingencies are sometimes required by law or lender regulations, but others can be removed. For example, if an appraisal contingency is included, that means the deal is contingent on a home appraisal coming in at or above the offer price — but it might make sense to remove that contingency (with your agent’s help) because you know the home is worth the price you’re asking.
3. Consider buyers who are willing to make a big deposit
A sizable deposit shows sellers that the buyer is confident in their ability to close on the house. In addition, since the deposit is nonrefundable, sellers feel more comfortable prioritizing a buyer who has financially shown their true intention to buy the house.
So, if you have received offers where the buyer is ready to make larger down payments, consider them seriously!
Ultimately, selling your house is simple: you need to determine what the right price is, give potential buyers a good impression of your home, and respond to offers quickly. However, it’s important to remember that not all offers will be equal, so if you get multiple offers on your home, then you should take the time to consider each one carefully before accepting an offer.
If you take the time to improve your home’s appearance, market conditions, and your home’s location, these will all contribute to a higher final sale price. That experience can be time-consuming, but it could make all of the difference in terms of the home selling quickly and for top dollar.
If you need help, get in touch with the top real estate agent in Edmonton. Seek help from qualified Edmonton real estate experts and move forward confidently to sell your house at the right price.