Ever sold a house? Then you know how nerve-wracking the process can be! Organizing and arranging the place, handling the inspection, closing the deal—all of it requires time and effort.
And once offers start coming in, it’s easy to get overwhelmed. One buyer might offer more than you’re asking for but have numerous contingencies while another might offer what you’re asking for if you agree to wave the inspection and work around their schedule.
But which offer is best for your situation and how are you to decide? Well, asking the following questions should help you determine which offer is best.
Are you pre-approved?
Choosing a pre-approved buyer can expedite the overall process. If the buyer is pre-approved, you won’t have to wait for a lender’s decision.
Nothing’s worse than thinking a deal is about to go through, only to have it fall apart at the last minute. With a pre-approved buyer, such a scenario is far less likely.
If no pre-approved buyers have made an offer, consider a reliable cash home buyer in Pittsburgh. They purchase homes as is and don’t have to wait for lender financing. Why? Because they have the resources to purchase homes for cash. The only downside is you won’t get as much money for your home, but their process is quick and seamless.
How big is the down payment?
How much is the buyer willing to put down? If their down payment is considerable, this can indicate they’re serious about the deal going through. Of course, the down payment isn’t everything; the total amount they’re willing to pay is far more important.
Will you require changes or sweat equity?
As we mentioned earlier, a buyer may offer above asking so long as you do some improvements before finalizing the deal. For example, they may ask you to paint both inside and outside. Also, they could ask for a new roof.
In any case, make sure you calculate the costs to determine whether or not these concessions are worthwhile.
How soon do you need to close?
If you need to move quickly because you’re starting a new job in another state or country, a buyer who’s ready to close fast will probably be more appealing, even if their offer is slightly lower.
Will you be selling your current home before moving in?
Check if the buyer’s offer depends on them selling their own home. If they can’t sell their home quickly, it could delay or complicate your sale. Talk this over with your real estate agent to make sure it’s a risk worth taking.
Sell Smartly
Selling a house is a major decision that requires careful consideration. That’s why you should choose a reputable cash home buyer. This way you avoid worries and trouble. At 412 Houses, we buy houses in Pittsburgh, and we can close in less than two weeks! You won’t need to wait for escrow or make big repairs—you’ll get your money within hours of closing!