Multiple Offers on your Main Line Home? What a great, but common, problem to have in this sellers market. Let’s talk about the top 3 things to look for to decide on what the best offer FOR YOU is.
What are the top three things that are the most important to look out in a multiple offer situation? #1 obviously price. #2 financing terms #3 inspection contingency clauses. So if we were talking about financing terms it’s important to really take a look at what the terms of the mortgage are and the loan-to-value ratio, the amount of money being put down, and the lender that’s being chosen. Is it a reputable well-known mortgage company? This really matters when you’re looking at all offers of buyers who are competing against each other in a multiple offer situation.
What happens when the buyers start competing with each other and there are multiple offers on your home? It is not always about the highest price offer it’s also about the terms in the contract. What do I mean by this? It can be about contingencies on inspections, contingencies on a mortgage, acceleration clauses and there are so many factors that can come into play when you’re reviewing all of the buyers competing offers as well as being able to negotiate with the buying agent. This can be all very complicated but not to worry we are here to help. Please feel free to reach out at any time with any questions. Kimmy Rolph sells the Main Line and local areas! Montgomery County PA Villanova 19085, Gladwyne PA 19035 and Delaware County PA Wayne 19087.
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