When a seller receives multiple offers on their home, what is the best way to handle it? Well there are 3 obvious answers.
Accept an offer, counter offer(s) or reject all the offers. Rejecting all offers doesn't make sense unless they are all extremely low ball offers and accepting an offer right away might leave money on the table. So I recommend doing multiple counter offer which means countering all offers. In the counter offer instead of stating the sellers terms (price, escrow, etc...) I recommend countering all offers to submit their Highest and Best offer. The main reason is to have the possibilty of the best buyer outbidding themselves. For example, the best offer might counter a higher purchase price and/or better terms even though they don't need to.
Every sellers situation is different so this might not be the best strategy for them but this counter offer technique has been very successful for my clients so highly recommend it.
This is only part 1 and part 2 will talk about terms in the offer because the highest price offer isn't always the best. If you have any questions, please comment below or contact me. Thank you.
Cell: 858-349-2390 | E-Fax: 619-209-7597
firstname.lastname@example.org | www.PaulCaparas.com
CA DRE # 01397640
Selling San Diego Real Estate since 2003
Paul CaparasDRE # 01397640
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