How to Choose the Right Offer When Selling Your House in Cincinnati

You’ve listed your house, you’ve shown it a few times, and now offers are beginning to come in. But how do you know how to choose the right offer when selling your house? Price isn’t the only or the primary deciding factor. It could easily be a mistake to just say yes to the highest bidder. There is in fact a lot more to consider, such as the buyer’s financing and the contingencies. To help you out, then, here’s how to choose the right offer when selling your house in Cincinnati. 

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Plan and Prioritize With Your Agent

Before you can do anything well, you have to get clear on exactly what you’re trying to do and what your priorities are. So selling your house in Cincinnati should begin with consulting your agent.

Before you list your house, you should sit down with your Cincinnati agent and hammer out your selling priorities. This will give you a plan to work from in choosing the right offer. Do you need to sell fast owing to a divorce or job relocation? In that case, an early, decent offer would be the right one. Or are you experiencing financial distress and have no cash for repairs? If so, a lower offer without repair requests may be the right one.

These are the kinds of things your agent can help you with to determine the right offer in selling your house in Cincinnati. To find out more about this, contact a Cincinnati agent at (513) 813-6293.

Find Out About Pre-approval

A good way to vet buyers and weed out offers is to determine whether a buyer is pre-approved for a mortgage loan. Doing so will keep you from wasting time on shaky offers and will make the process of selling your house in Cincinnati much smoother.

A pre-approved buyer will likely get financing, and her offer will be better than an offer from a buyer who is merely pre-qualified. Pre-approval is a more rigorous process and – if nothing major changes in the buyer’s financial situation – almost guarantees that the buyer will get financing. A pre-qualified buyer, on the other hand, may be turned down by her lender after making an offer.

Determine the Kind of Mortgage

In a similar vein, you should also find out what kind of mortgage the buyer is getting. This, too, can impact whether an offer is right for you.

Selling your house in Cincinnati isn’t as straightforward as accepting a good offer with guaranteed financing. The kind of mortgage matters because different mortgages are often accompanied by different problems and issues. Some require higher credit scores, some require higher down payments, and some require that more repairs be made.

With an FHA loan, for example, you’ll have to make sure your home meets certain requirements with respect to its condition. Your best bet, then, is to have your agent help you sift through these mortgage issues in order to choose the right offer.

Consider the Contingencies

And then you have to carefully consider the contingencies in an offer when selling your house in Cincinnati. Too many contingencies or the wrong kind could very well be deal killers. 

Basically, contingencies are clauses stating that certain things have to occur or be done before the deal can go through. The most common are inspection, appraisal, buyer-financing, and buyer-home-sale contingencies. Some contingencies are riskier for sellers, so you absolutely must carefully consider contingencies when determining the right offer.

This is an area where most sellers lean heavily on their agents. But any offer with too many contingencies should probably be rejected.

Be Able to Recognize a Strong Offer

And when selling your house in Cincinnati you need to be able to recognize a strong offer in order to choose the right one. The three most important elements of a strong offer are:

  1. Buyer’s financial strength (re-approval, large down payment, and large earnest money deposit)
  2. No concessions or only a few with little risk
  3. Buyer flexibility (primarily) on the closing date
Choose the Right Offer When Selling Your House- Shopping

Get the Agent Advantage To Help You Choose The Right Offer When Selling Your House

Choose what’s best for you! The professional hybrid agent investors at Team Sztanyo can offer you BOTH options. At Team Sztanyo, we will run the numbers and go through everything in detail. Our goal at Team Sztanyo is to inform you of every step of the process with complete transparency. Team Sztanyo our job is to make sure you feel confident in your decision when selling your house in Cincinnati. Contact Team Sztanyo at (513) 813-6293 today

You can, of course, choose the right offer all on your own, but most sellers find that they need the assistance of an experienced agent to make that determination. Your local Cincinnati agent can help you mitigate the risk and get the best deal. Get the help you need when selling your house in Cincinnati.

If you have questions like: How do sellers choose an offer? Do Sellers usually accept first offer?
What is an acceptable offer on a house? Do sellers always choose the highest offer? Then give us a call. Our Real estate experts will be able to answer any questions you have, can make recommendations and may be able to provide you an offer over the phone!

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