PEDRO GOMES ​- ​​REALTOR®

Cell: 778.999.REAL (7325) |

 

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When considering which of two or more competing offers to accept for your home, there is no doubt price plays a huge role. After all, if Offer #1 is $10,000 higher than Offer #2, that’s an enticing difference that puts thousands of extra dollars in your pocket.

 

However, price isn’t the only thing you should think about when comparing multiple offers. There are other factors you need to consider as well.

 

For example, what conditions are in the offer? If Offer #1 is conditional upon the seller selling his current property for a specific amount, then what if that doesn’t happen? You could end up with an offer that dies and be forced to list your home all over again.


In that circumstance, accepting the lower offer may be your best move.

 

There’s also financing to consider. Most sellers will attach a certificate from their mortgage lender to show that they can afford the home and will likely secure financing with little difficulty. If you get an offer where the ability of the seller to get financing is in doubt, that’s a red flag.


The closing date is another important factor. Offer #1 might propose a closing date that’s perfect for you, while Offer #2 is four weeks later. If you’ve already purchased another home, you might require a month of bridge financing if you accept Offer #2. There’s nothing wrong with that per se, but the costs and additional hassle are factors you should consider.

 

As you can see, assessing competing offers isn’t as easy as it looks. Fortunately, as your REALTOR®, I will guide you toward making the right decision.

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As you’re probably aware, the list price you set for your property has an impact on how quickly it sells — and how much you earn on the sale.

 

What you may not realize is just how significant an impact it has. Consider the following examples.

 

Example 1:


You price your property well above its current market value. As a result, many buyers don’t bother to see it because it’s outside of their price range. Those who do see it are confused by the high price tag, (and may even be suspicious.) They may wonder, “What’s going on?”

 

In this scenario, the home will likely languish on the market for weeks or even months. You might even have to lower the price dramatically to re-ignite interest.

 

Example 2:


You price your property just a couple of percentage points lower than what is necessary to gain the interest of qualified buyers. That might not seem like much of a problem. How much can a couple of percentage points matter?

 

Those points matter a lot.

 

On a $400,000 property, pricing your home just 2% lower than necessary could cost you $8,000 on the sale. That’s a serious amount of money!

 

So, as you can see, pricing your home right is serious business. Fortunately, a good REALTOR® knows how to set the right price.

 

Looking for a good REALTOR®? Call Pedro at 778-999-7325 today.

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