What Should You Look for in a Multiple Offer Situation?

San Francisco Real Estate Podcast with Durwin Cheung

What does a good offer look like? There are three things you should look out for if you’re receiving multiple offers.

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There are three things that sellers should keep an eye out for when deciding between offers in a multiple offer situation:

1. Terms. Look at what kinds of terms are on the contract offer. Are they doing an inspection? If so, how long is the inspection contingency period? Anywhere from seven to 14 days is normal. Any longer than that is unnecessary.

2. Disclosures. When you sell a property, you will have to fill out disclosures to present to the buyer to know if there are any issues within the house. The buyer should sign off on these disclosures when they make an offer. It minimizes the chances of them coming back with a problem with the home that they didn’t know about before.

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These items will give you a better idea of what to look for.

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3. How strong the buyer is. To find that out, have your agent contact the buyer’s lender and talk to them directly to discuss things like their down payment, credit history and score, and more.

All of these items will give you a better idea of what to look for when selling your home. If you have any other questions for us or are looking to buy or sell a home, give us a call or send us an email. We look forward to hearing from you.