If you receive an offer to purchase your house, determining how to proceed with this proposal sometimes can be difficult. Ultimately, a home seller needs to weigh the pros and cons of accepting an offer to see if the decision best aligns with their home selling goals.
An offer matches or exceeds a home seller's expectations
If a home seller receives an offer to purchase at or above the initial asking price for their house, they may be more likely to accept. In fact, a seller may want to provide an instant "Yes" to this offer, so they can quickly move on to the next step of the home selling journey.
Of course, it helps to establish realistic home selling expectations before listing a residence. If a seller sets a competitive initial asking price that corresponds to his or her home selling expectations, then they may be better equipped than others to enjoy a seamless property selling experience.
An offer falls in line with the current housing market's conditions
If you're selling a home in a buyer's market, you may pounce at the opportunity to accept any offer to purchase that comes your way. Comparatively, if you list your house in a seller's market, you may need to consider all of your options closely before you accept an offer to purchase.
As a home seller, consider evaluating the current state of the real estate market with your real estate agent. If you allocate time and resources to learn about the housing market, you can gain real estate market insights to help you determine whether to accept an offer to purchase.
An offer speeds up the property selling process
If you're operating on a tight home selling timeline, you may be more inclined than ever before to accept an offer to purchase, even if it falls below your initial expectations. Conversely, if you plan ahead for the home selling journey, you may reduce the risk of facing a time crunch to sell your house.
For home sellers, hiring a real estate agent is key. This housing market professional can help a seller prepare for the real estate market and ensure a competitive price is set for their home. They can also market your listing effectively to maximize the number of potential buyers.
About the Author
Hannah Sosinski
I started my career in the real estate industry at the age of sixteen and instantly fell in love.
I worked alongside one of the top producing agents in the country as their administrative assistant for nearly nine years before I took the leap to begin my own journey in the real estate industry.
Working alongside an agent who sells over three hundred houses a year educated me strongly on the Pittsburgh and greater Pittsburgh housing market. While working alongside this agent, I was lucky enough to be involved in several different types of real estate transactions and learned to properly determine home values, many aspects of negotiations and have learned how to close challenging deals while also handling a large amount of deals at the same time.
I have also spent the past seven years working as a property manager throughout Allegheny, Washington and Fayette County. I have managed everything from Section 8 to Luxury units.
Exploring the options of the real estate industry can be overwhelming. While working with me you’re able to sit back and relax as I have worked with many investors, home sellers and buyers and can help guide through the sale or purchase of your home and make it as easy on you as possible.
Whether you’re a first time home owner, downsizing, sizing up, looking to make your first/second or third investment, selling your home, etc. I can use my years of education to help guide you through the purchase or sale of the largest investment of your life.
I look forward to chatting about real estate with you!