In a busy market like San Antonio, it’s not uncommon for home sellers to receive multiple offers on their homes. But how do you determine which one is the best? It may seem like the easy answer – you accept the highest price. That’s not always the case, though.
These four questions can help you determine which offer is right for you.
How much earnest money did they put down?
Earnest money is an amount of money buyers will put down when a sales agreement is signed. This money is a sign of how serious a home buyer is. The more earnest money put down, the stronger the offer. If a buyer decides to back out, the seller will get to keep the earnest money.
What are the contingencies?
Most offers come with contingencies. When selecting which offer to accept, it is important to consider the contingencies the buyer is asking for. The most common types of contingencies are appraisal, inspection, financing and sale of current home. If you are not willing to accept some of the contingencies listed in the contract, it may be an indicator to consider other offers.
How much do they have for a down payment?
When accepting an offer, the most important thing to consider is whether or not a mortgage is likely to be approved. Typically, the more money a buyer has for a down payment the stronger the offer and the greater likelihood of a mortgage approval.
When do you need to move?
The closing date can play a big role in helping you choose an offer. If you need to move quickly, it may be in your best interest to choose an offer that will allow you to close in 30 days instead of 60. Some closing dates may take longer depending on the loan type the buyer has chosen, so be sure to consider that when selecting an offer.
I’m here to help ensure you receive multiple offers for your home – and to help you select the best one.
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No. 339 features an open floor plan, top-of-the-line appliances and beautiful hardwood floors. Master with en suite bath and large walk-in closet and second bedroom/bath are on the first floor. Guest suite with bath is upstairs. Ample storage. Small, easy to maintain yard and deck. Looks, feels and smells brand new. Well-managed HOA. Ideally located in the Alamo Heights Independent School District. In walking distance to shops and restaurants. Convenient access to The Quarry and I-410 Loop. I’d love to show it to you.
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