Why Accept the First Offer on Your Home? Here are the Reasons!
Many sellers are reluctant to accept the first bid they get on their house, which is understandable. They may want to consider several offers from prospective buyers, and they may even be considering bids.
However, in some cases, the first bid on your home might be the one you should take. It could make more sense, especially if the offer is reasonable and you live in a hot real estate market.
Your main aim is to sell the property as soon as possible, whether you need to move for financial reasons or because you are going through a big life event like a divorce or a work transfer. It will be a massive relief for you and your family because you will be able to cut down on the amount of time you will need to spend to cover your living costs at two homes.
Clarify your condition and encouragement to your real estate agent so that he or she can advertise the property to get the highest possible selling price from a serious buyer and stop the transaction from falling through.
If your house has been on the marketplace for several weeks for some reason, accepting the first enticing offer that comes your way might be your best option, particularly if it isn’t a low offer. Accepting it could be the better option if you don’t want your house to continue to depreciate.
If a bidder makes you an all-cash bid, you may want to think about it. Cash buyers are typically a good choice because they don’t have to wait for their mortgage approval and their deal has less or no contingencies. Even if it isn’t the best deal, this offer will make the process go much more smoothly. If you need to travel quickly for financial reasons or if you’re going through a big life event, an all-cash offer is ideal. To ensure a smoother deal, make sure to thoroughly discuss the buyer with your realtor.
Houses that are odd, eccentric, or modern are unlikely to appeal to the general public, making them more difficult to sell. Take, for example, this “dome house” in Sedona, Arizona. Many agents were concerned about how to sell this 2,400-square-foot octagonal property with 4 bedrooms and 2 bathrooms because of its unusual features.
Due to the limited number of potential buyers, there’s a fair chance that offers will be few for certain types of houses, so the first bid will likely be your best choice.
If you’ve acquired a house from a deceased family member and your key concerns are getting a decent price and a smooth transaction, the first appealing bid that comes your way could be the one worth taking. You’ll be able to sell the house quickly and move on to the next stage of your life this way.