Real estate companies in dubai
Dealing with the First Offer when Selling a Home
- November 3, 2022
- 4:49 pm
- Sell Home in Dubai
Real estate companies in dubai
Home buyers usually make their first offers after surveying the market and analyzing the displayed price ranges. After that, they’re eager to move in and want to beat other buyers, so the offer they will present will be well thought out. At the very least, you can still negotiate the price if the first offer is slightly less than expected.
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If you do not get a better offer, your house will sit on the market longer. If that happens, most buyers will wonder if there’s something wrong with the house or if it is overpriced, which is why it has not yet been sold.
Things to Consider
- The Offered Price. Open dialogue and begin negotiating if the offer is within 10% of your listing price.
- Type of Transaction. Cash offers financial safety and a fast close on the deal. Despite their riskier nature, mortgage-backed transactions are prevalent.
- Buyer’s Contingencies. You and the buyer may have contingencies to be met to sell. Examine the contingencies and determine where there may be room for negotiation.
- Buyer’s Flexibility If your buyer is open to negotiation, you may be able to craft a perfect deal with them. If they are unnegotiable, it may be worth waiting for an offer from someone who is.
Key Takeaways
Consider accepting the first offer if:
- You’re pressed for time and need to sell ASAP
- Your home has recently gone on and off the market
- Carrying costs of paying the mortgage, utilities, and insurance
- You’re behind on mortgage payments or facing foreclosure or a short sale
Reject the first offer outright if:
- You’re pressed for time and need to sell ASAP
- Your home has recently gone on and off the market
- Carrying costs of paying the mortgage, utilities, and insurance
- You’re behind on mortgage payments or facing foreclosure or a short sale
Reject the first offer outright if:
- The offer is way below market value
- Your listing is new, and you have time to spare
- You’re in a seller’s market where multiple offers are common
It’s always worth double-checking and securing your decisions before completing real estate transactions. Don’t hesitate to get in touch with us for more personalized advice:
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