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Selling your home: How to get the best bids

Selling your home: How to get the best bids

If you’re selling your home, especially in a competitive market, expect to make a lot of crucial decisions. How do you know which bid to accept? Let’s consider the following questions:

Do you know how much your home is worth?

Getting an accurate valuation of your property is an important first step when putting your home on the market. It helps you avoid overpricing – a crucial mistake that could turn off buyers and force you to sell low in the end.

In addition, knowing your home’s true worth will keep you confident and firm during the negotiation stages. You won’t easily fall for low-ball bids even if offers are scarce. At the same time, realistic expectations on offers will prevent you from inadvertently stalling negotiations by trying to raise bids beyond reason.

Should you ever accept a bid below your asking price?

As a seller, your goal should be to accept no less than the best returns for your property – preferably at the soonest possible time. Realistically, however, there are instances that may force you to settle for a final selling price lower than what you prefer. These situations include:

  • When your listing fails to attract good offers over a long period
  • When the owner needs to sell quickly
  • When the property’s condition or style affects the desirability of the home.

How can you boost your chances of getting favorable offers?

Knowing how to sell smart can help you avoid conditions such as having a listing stay on the market for an extended time. It can help you attract a good, fast deal, regardless of the condition or style of your home.

Consider these strategies:

  1. Understand the best buying and selling seasons in your market

    By working with a knowledgeable real estate professional familiar with local trends, you will be able to “read” the market better and enable you to know the best time to put up a listing. A local expert will also ensure that your list price is both profitable for you and reasonable for buyers.

  2. Be patient

    Patience is crucial in the home-selling process. It will be tempting to jump on offers as soon as they come, but hold out until, say, you schedule an open house. If you manage to attract a lot of attention with the open house, you could create an impression that several buyers are interested. In the process, you might create a bidding war that can produce interesting offers that meet or even exceed your target returns.

  3. Use your asking price as your counter-offer

    Use your list price to counter low preliminary bids. It sends a strong message to buyers that you are confident about your property’s value. If they are seriously interested, they will keep bidding until they approach a price that appeals to you.

With the right partners, selling your home will prove to be a rewarding experience. Get in touch with the local community experts at Coleman Real Estate LLC by calling 817-579-9300 or emailing info(at)lakegranburyproperties(dotted)com.

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