How to Handle Multiple Bids on Your Home?

Page 1

How to Handle Multiple Bids on Your Home If you’re selling your house in a good real estate market, you may be lucky enough to receive multiple offers. If you’re even luckier, you may have a bidding war on your hands. Although it seems like a dream scenario, many sellers don’t know how to handle so many offers. When that happens, it can be difficult to choose the right bid. You want to sell your house quickly, of course, and for a good price. Selling your home is a big step, and you’ve got to weigh all your options carefully. While you may be tempted to go for the highest offer, there are many other factors to consider in the process.

Image Source

Consider the Price The first thing you will undoubtedly look at is how much someone is willing to pay for your house. The highest bid definitely stands out, but it may not be the best offer there is. Often, buyers get caught up in a bidding war and end up offering much more than they can afford. This means that their ability to pay may rely on a home loan. Sometimes, in order to be approved for one, banks or mortgage lenders may order an appraisal of your property.


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.