What Offer Is Best for Your St. Louis Home?

St. Louis Real Estate Video Blog with Barbara Balossi

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Hey everyone, welcome back to our blog. Today we are going to be talking about dealing with multiple offers from a seller's perspective. We have been seeing a ton of sellers in the St. Louis area receive multiple offers on their home lately, sometimes as many as 7 or 8 on a single property.

So, how should a seller choose which offer is the best to work with? Although it would be easy to say you are going to accept the one with the highest price, there is some danger with that. An offer that is well above asking price can be a warning sign that that buyer likes to act impulsively, which you don't want when it comes time to close the sale of your home.

You also shouldn't just focus on the price. You've got to look at the terms as well, such as: Does the offer include a pre-approval? Does it include proof of funds? These are very important things to have on any offer you would consider accepting. Take a look at the terms as well, including the length of the inspection period. The shorter the better.

Lastly, did the buyer ask for an extended closing timeline? If they want 4 or 5 months, that's not a strong offer. You want somebody buying your home who is ready to move in the next 60 days.

I hope this info was helpful to you all. If you have any questions for us, just give us a call or send us an email. We look forward to working with you soon!