Ignite FB Tracking PixelShould You Accept a Buyer's Offer? - Susan Coleman

Should You Accept a Buyer's Offer?

by Susan Coleman 09/09/2018

Deciding whether to accept a buyer's offer to purchase your house can be exceedingly difficult. Fortunately, we're here to help you assess the pros and cons of a homebuying proposal and ensure you can make an informed decision.

Now, let's take a look at three tips to help you determine whether to accept an offer to buy your home.

1. Examine the Current Housing Market

The current housing market may play a role in your ability to stir up interest in your house. In addition, the real estate sector may impact whether you're able to receive multiple home offers at or above your residence's initial asking price.

To understand the present state of the housing market, you should look at the prices of recently sold houses in your city or town. If houses are selling quickly, you may be operating in a seller's market. Or, if houses linger on the market for many weeks or months before they sell, you may be operating in a buyer's market.

Ultimately, a seller's market may lead to many offers on your house in the foreseeable future. If you receive an offer that fails to match your expectations when you're operating in this type of market, you may want to decline or counter the proposal in the hopes of receiving superior offers down the line.

On the other hand, it usually requires hard work and persistence to sell a house in a buyer's market. And if you receive a competitive homebuying proposal in a buyer's market, you may want to accept this offer.

2. Consider Your Home's Condition

The condition of your house may prove to be a critical factor as you debate whether to accept an offer. If you assess your house's condition closely, you may be better equipped than ever before to make the best-possible decision about a homebuying proposal.

If you feel a home offer is fair based on the current condition of your house, you may want to accept the proposal. Conversely, if you feel a buyer has submitted a "lowball" proposal based on your home's condition, you should not hesitate to reject or counter this offer.

3. Consult with a Real Estate Agent

When it comes to evaluating a homebuying proposal, it generally is a good idea to collaborate with a real estate agent. This housing market professional can help you weigh the advantages and disadvantages of accepting an offer and determine the best course of action.

Typically, a real estate agent will present a buyer's offer to you and offer recommendations about how to proceed with this proposal. As you assess all of your options regarding a homebuying proposal, a real estate agent will be able to respond to any concerns or questions that you may have too.

Ready to take the guesswork out of reviewing a homebuying proposal? Use the aforementioned tips, and you can streamline the process of deciding whether to accept an offer to purchase your home.

About the Author

Author
Susan Coleman

 

I love what I do. I employ skills I’ve honed over a long period of time, to deliver my clients’ dreams. As my tagline says: “Skills that Deliver Your Dreams”. What could be a better occupation than this?

To me, it’s not really so much about houses; it’s overwhelmingly about people, their objectives, hopes, fears, nuances. Each client processes very differently the myriad information and emotions involved in conveying property. My focus is to understand their process and deliver them a great experience, not as determined by me, but as defined by my client. I enjoy thinking unconventionally, to exploit opportunity and value for my clients. Trust, mutual respect, teamwork, and market knowledge form the foundation of the relationship and professional real estate services I provide to each and every client on each and every undertaking, large or small. And I do the right thing, as the phrase goes, “even when no one is looking”.

In the end, my goal is to be my clients’ “go to” real estate resource and the real estate professional they trust to recommend to their friends and acquaintances.

Bio Information

Top Producer since 2002

Dual selling and management role 2005 – 2007 in former Frank Howard Allen REALTORS flagship sales office

Skilled at finding personal homes in 3 of the toughest housing markets in the world!

Bay Area Native

MBA, Finance, UC Berkeley, Haas School of Business

14 years investment banking New York (7 years), London (8 years)

Dual citizenship: US/UK

3 adult children 25, 21, and 20 years of age.

Hobbies: fitness, hiking, cinema, home design, antiques

Volunteer: President, Parents' Association of Northern California, United States Air Force Academy; Treasurer, Terra Linda Homeowners Association; Member, Design Review Committee, Terra Linda Homeowners Association.