How to Pick the Best Offer in a Bidding War?

The housing market is on the rebound, home prices are rising, and, for the first time in nearly a decade, two or more offers at the same time is a common occurrence.

It’s a good problem to have if you’re a seller. But before you lean back in your chair and daydream of the piles of money you’ll be sleeping on, there’s one more thing to think about: Now that you started that bidding war, how, exactly, do you choose the best offer?

The best strategy is to play offers against one another and take the highest price, right?

Wrong! While money is a major consideration, real estate agents are counseling their clients to look at a variety of factors when entertaining multiple offers.

“People are prone to get excited when they have an offer they like,” said Andrew Sohn of Coldwell Banker in Evanston, IL. “But you have to look behind the cover of the book, so to speak. The price is on the front page. It’s the first thing people see, but you can’t judge the book by its cover.”

 

Read more here

Posted on June 1, 2015 at 5:59 pm
Annie Akopyan | Category: Uncategorized

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