The NJ real estate market has been hot in 2018, and some home sellers are getting between 5-10 offers for their homes!
When selling a home in this market, it's important to choose the right offer. How do you know which offer is best in a multiple offer situation?
Hint: It's not just about price!
In this video I give a few tips for home sellers on how to evaluate and pick the best offer in a multiple offer situation:
1. Ask for highest & best
2. Write down and organize all offers
3. Evaluate & calculate bottom line for each offer
4. Vet each potential buyer to see who's most qualified to buy your home*
*This is the step that most realtors and "for sale by owners" miss!
I also give some advice for home buyers on how to make their offer stand out from the crowd and lock down that dream house.
1. Bring your highest and best offer
2. Use conventional financing instead of FHA loan
3. Don't ask for any seller's concessions or credits
4. Make sure your realtor follows up and gets your offer to the top of the pile
It's a great market right now but even a great market has it's challenges. Use these tips to help make the best decision when buying or selling real estate.
Questions? Text me: 973.506.9866
At Realty 33, We tap into 25+ years of experience and market know-how to help our clients make streetwise real estate decisions.