Getting top dollar requires more than simply preparing the home for sale.
Right now, we’re experiencing one of the strongest seller’s markets ever. How can you maximize the sale price of your home? You obviously need to get the property ready, but there are other considerations.
First, make sure every buyer knows about your home. As soon as we get one offer, I reach out to all the other real estate agents who have shown the home to let them know that there is competition on this property. To understand the potential buyers, we put all their information into a comprehensive Excel document.
It’s easy to mistakenly think that the highest possible price is the best offer. What you truly want is the highest price that will reach closing. Make sure that your agent has checked the numbers, reviewed the agreement, and knows how much the buyer has in the bank. In this market, the property may appraise below list price. That gap needs to be made up somehow. I like to reach out to the buyer’s lender and get all the information about their eligibility and qualifications to make sure they can actually reach closing with their offer.
The most attractive offers will be the ones with the fewest contingencies. A contingency gives the buyer the ability to cancel the transaction before it closes. You want to determine which offers are the most competitive and negotiate with them to reduce their contingencies or waive them altogether.
If you have any questions, please reach out to me. I’m happy to help.