If you are in the market for a home in a seller’s market, you are in luck, but you also have some extra work cut out for you. You are going to have to stand out from the crowd in order to get the home that you want.
If you are selling your New Jersey house in a seller’s market, you’re probably expecting to get an offer very soon… but once you get an offer, what should you do? In this blog post you’ll read how to prepare for the home buying offer in a seller’s market in New Jersey…
In a seller’s market, you’re almost certain to get an offer on your house. But what should you do when you get an offer? Do you just accept it? Do you negotiate? How? What should you do?
When it comes to accepting offers in a seller’s market, it’s best to be prepared. Here’s how to prepare for the home buying offer in a seller’s market in New Jersey…
How To Prepare For The Home Buying Offer In A Seller’s Market In New Jersey
First, decide on the criteria that you want in the offer.
Ask yourself what’s most important to you. For example, do you want to sell quickly and get a fast possession date? Or maybe you want to get a high selling price. Yes, both of those might be important to you but one of them will be more important, so determine which is most important for you.
Second, think about what you want for a bottom-line price.
In a seller’s market, you may get a higher price than your bottom-line price but it’s also very common for property owners to accidentally over-estimate the price they think they’ll get on their house. Therefore, determine your bottom-line price. Chances are, you’ll get an offer somewhere between your bottom-line price and your preferred price.
Third, think about the possession date you want and consider any flexibility you have.
You might want to move right away, for example, but you could potentially open yourself up to better offers if you don’t press for a specific possession date but instead find out what buyers are willing to offer.
Fourth,remember that you’re still the seller.
Even though it’s a seller’s market, remember that the buyer is still the one with the money and they could decide to buy a different house. Decide which terms and conditions are absolutely imperative for you and which ones you’re more flexible on. That way, if a buyer has all the money and no contingencies and is willing to close within your preferred timeline, you can work with any conditions they may have.
In a seller’s market, it’s often thought that the seller has the advantage but there are times when you might want to sell now instead of putting your house up for sale, cleaning it up, and seeing what buyers will offer.
Thanks for reading! We hope you were able to learn something new and useful about home buying offers in a seller’s market. If you have any other questions about buying a home, we’d love to help! Just contact us anytime. Thanks again, and we’ll see you next time!