Review Several Home Offers at the Same Time

by Nancy Brenseke 02/04/2019

Receiving multiple offers on a residence is a home seller's dream come true. However, if a home seller faces a tight deadline to review several homebuying proposals simultaneously, making the right decision may prove to be exceedingly difficult.

Ultimately, evaluating multiple home offers at the same time can be quick and seamless – here are three tips to ensure that you can review various home offers and make an informed decision.

1. Consider the Homebuyer's Perspective

Although you probably won't be able to find out the identity of a homebuyer who submits an offer on your home, you may be able to learn about the homebuyer's perspective if you study a home offer closely.

For example, a homebuyer who wants to close on a residence as soon as possible may face a time crunch. And if this buyer has fallen in love with your home, he or she may do anything possible to acquire it.

On the other hand, a homebuyer who submits a lowball proposal may be looking for a bargain. Therefore, this home offer may fall far below your initial expectations, and you should not hesitate to decline or counter the proposal.

2. Analyze the Housing Market

Operating in a buyer's market or a seller's market may dictate how you proceed with multiple offers on your house.

If you've listed a house in a seller's market, the number of homebuyers likely exceeds the number of first-rate houses that are available. As such, you may want to accept a home offer in a seller's market only if it matches or exceeds your expectations.

Comparatively, if you're working in a buyer's market, there likely is an abundance of high-quality residences and a shortage of homebuyers. Thus, you may be more inclined to accept a home offer that nets you the biggest profit – even if the home offer falls shy of your initial home selling expectations.

3. Collaborate with a Real Estate Agent

If you're unsure about how to approach multiple offers on your home, it certainly pays to consult with a real estate agent. In fact, a real estate agent can help you examine various offers and decide which home offer – if any – is right for you.

By hiring a real estate agent, you'll gain an expert ally who will support you throughout the home selling journey.

Typically, a real estate agent will learn about your home selling goals and ensure you can set a competitive price for your residence. He or she also will host home showings and open houses, negotiate with homebuyers on your behalf and do everything possible to help you get the best price for your home, regardless of the real estate market's conditions.

Perhaps best of all, a real estate agent is prepared to respond to your home selling concerns and queries. And if you have questions about a home offer, your real estate agent is available to respond to your questions at any time.

Take the guesswork out of evaluating multiple offers on your home – use the aforementioned tips, and you can determine the best course of action based on the home offers at your disposal.

About the Author
Author

Nancy Brenseke

I love the ocean, sand and sunshine! That's why I call Hilton Head Island/Bluffton my home! I relocated to Hilton Head Island over 20 years ago from North Carolina after graduating from East Carolina University - Go Pirates! I continue to be successful in real estate for the past 13 Years and with my experience working with top resorts and gated communities, I have cultivated attention to detail, understand the importance of listening first and have the positive "Can Do" attitude in all situations. I offer my sellers and buyers the BEST advice to achieve their real estate goals. I enjoy spending time with my family boating on the May River, attending festivals along Old Town Bluffton and building sandcastles on HHI beaches.  

"Nancy Brenseke is the type of realtor that everyone should contract to sell their property. She is very knowledgeable and gave us valuable information when listing the townhome. The whole process went smoothly and Nancy was responsible for that. She always communicated with us which kept us confident that all aspects of the closing were under control and on track. I highly recommend Nancy Brenseke." ~ Deb Bluffton, SC

"I would highly recommend using Nancy for your real estate needs. She is extremely knowledgeable and responsive. Nancy's representation is top-notch." ~ Jill - Nashville, TN

"Nancy went the extra mile on everything around selling the condo. I would use her again and would recommend her to anyone I come in contact with. Our condo sold in 1 day! She was excellent and hardworker. She helped in all aspects of selling, from marketing with great number of pictures, to home inspection with helping us find contractors to fix the inspection issue so were were able to close." Eric - Cumming, GA