In a seller’s market, you’re almost guaranteed to get an offer on your house.
So, if you’re selling your Miami house in this market, you’re probably expecting an offer very soon…
But what should you do when you get an offer? Do you just accept it straight away? Do you negotiate? How do you negotiate?
Concerning A Seller’s Market, Every Question Is Valid!
If you’ve never sold a house before, it’s completely understandable that you wouldn’t know what to do. The critical thing to remember is when you accept an offer in a seller’s market; you need to be prepared.
This short blog will discuss how to prepare to receive an offer in a seller’s market in Miami.
But, if you’ve already had enough and just want out from under your house, check out our website >>> We Buy Houses Florida!
Receiving An Offer In A Seller’s Market In Miami
The first step is to decide on the criteria.
‘Criteria’ refers to what you want, how you need to sell, what you would like the offer to proceed as, and so on.
Ask yourself what’s the most crucial factor you. For instance, do you want a cash sale, do you want a quick sale with a fast possession date? Or maybe you want market value for your home. We understand all of these options might be relevant to you. BUT, one of them will take priority! Unfortunately, securing a quick, cash sale at market-value is unlikely in any market. So, determine which factor is the most important for you.
Second, think about your bottom-line price.
In a seller’s market, you may well receive a higher price than your bottom-line amount. However, property owners tend to accidentally over-estimate the amount they think their house can sell for. Therefore, determine the absolute lowest you would accept. Chances are, someone will make you an offer between your bottom-line price and your preferred price.
Third, what possession date do you want? Can you be flexible?
You might want to move right away, for example, but you could potentially open yourself up to better offers if you don’t press for a specific possession date but instead find out what buyers are willing to offer.
Fourth, remember that you’re still the seller.
Even though it’s a seller’s market, remember the buyer still has the freedom to make their own decision. They have the money, and they could easily decide to buy a different house. Decide which terms and conditions are imperative to you and which ones you can negotiate with more flexibility. That way, if a buyer has all the money, no contingencies, and can close within your preferred timeline, you can work around any conditions they have.
Don’t assume that a seller’s market instantly ensures the seller has the advantage. No matter the market, there can still be unforeseen issues and unknown problems when selling real estate.
Plus, you might still prefer a QUICK sale now, instead of cleaning your property, getting it market-ready, and listing it to see what buyers will offer.