How do you choose the best offer for your San Antonio House? There are many things to consider when choosing the right offer for your property. The best offer may not be the highest so make sure that you think through each offer so you choose the one that is best for you. In our latest post, we will offer tips to help you choose the best offer for your San Antonio house.
Having multiple offers or different options when it comes to selling is great! Most sellers think they would love the problem of trying to decide between multiple offers. However, you’ll want to employ some strategy when deciding which offer to pick.
Just because the offer looks good on paper, doesn’t mean it’s the right one. You need to look at the risk and reward of each offer before you make a choice. Keep reading to learn more about some things to consider when deciding which offer to accept for your house in San Antonio.
Tip #1 – The Actual Profits
When looking at an offer on paper, it’s important to consider all of the costs you will incur, and deduct them from that offer price. This will give you a good idea of where you stand financially. At the end of the day, it’s about how much you walk away with! Don’t get fooled by a high offer and then they subtract fees, commissions, repairs, etc., leaving you with a lot less.
A few things you might want to think about are your closing costs which will run about 2-5%. If a realtor is listing your house, then that will usually cost you 6% on top of the closing costs. Are you having to give money back to the buyer for repairs or closing costs? If you are leaving appliances or furniture behind when you move, these items may need to be replaced, which is an additional cost you will encounter after the sale.
Forgetting to factor in the cost of repairs needed in order to sell can make a huge difference. You will likely make some repairs upfront and a few more after the inspection has been completed. All these things need to be factored in when you are considering the best offer.
Is that really better than just selling it cash and paying no fees, commissions, or making any repairs? We buy houses direct from sellers making it easy to know what the actual profits are.
Tip #2 – How They’re Buying
Some buyers will pay in cash, without requiring a loan, while others will need to talk to the banks about financing. It doesn’t matter how “qualified” the buyers say they are, if they need a loan, then it is really up to the bank and not the buyer. Banks require appraisals, inspections, repairs, and can stop a sale for all kinds of reasons.
This is a big reason why cash buyers are often favored by sellers due to the faster closing speed and less red-tape. The offer is much more likely to go through as you are not bound by the decisions of a bank. Banks pull funding all the time because houses don’t appraise high enough. If your buyer is using bank financing to acquire the home, make sure they have at least been pre-approved so you don’t have to wait even longer for that to occur.
Please note, that being pre-qualified is different than being pre-approved. With a direct sale to Sell My San Antonio House, you won’t have to worry about any hassles, waiting, funding, or banks. The funds are available to purchase your San Antonio house outright, without any hassles or waiting. Our process is extremely simple and straightforward, we don’t like red-tape any more than you do.
Tip #3 – The Timeline
How quickly can the closing take place? Can the buyer guarantee you the closing date that you need? Even if you don’t need to sell right away, the faster you eliminate your holding costs, the more cash you will be able to put in your pocket. Ask any investor and they will tell you that once you have decided to sell, the longer you end up holding a house, the more it is costing you. Your costs of ownership add up each month. Utility bills, property taxes, homeowners insurance, standard repairs, and maintenance are a few of the costs you will end up paying until the home closes. Once you add up all of the costs you will be facing month after month, your total could be in the thousands.
Many people need to sell their house because they are moving for a job or they already have a new place to live. When this is the case, they need that old property sold and to eliminate the cost of having to pay for the old property before they move on to the next. Making sure you can have your house sold can play a big part in choosing the best offer.
Tip #4 – Buyer Intent
Do you want to make sure your home goes to good people? Many people feel an attachment to their property, and with good reason. It has likely been the place of many memories and laughs. When selling your San Antonio home, you can find a buyer who will care for the home as much as you do and you can have the peace of mind needed in order to sell confidently.
When deciding which offer to accept for your San Antonio house, learn more about the people who want to buy it and why. What are their plans for the home? Are they planning to live there and love it as you did, or do they want to make it ready for a new family to enjoy? Remember, it is never ok to discriminate, but you do have the right to decide which offer is right for you! When selling your San Antonio house, it’s nice to have the peace of mind in knowing that the new owner will care for the property in the way you would want.
When choosing the best offer for your San Antonio house, it’s important to consider more than just the price. The selling timeline, method of purchase, and intent of your potential buyer can all have an impact on which offer you ultimately choose. To learn more about the costs and alternate ways you can sell your house in the San Antonio area, feel free to reach out to us at any time.