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Five Signs You Should Accept The First Offer On Your Home

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Five Signs You Should Accept The First Offer On Your Home

In the fast paced, uncertain world of selling your house, there’s often a mentality that one shouldn’t accept the first offer on their home, and instead hold out in the hopes of a higher offer. In no way is this a bad idea, but that doesn’t mean it’s not just as reasonable a choice to accept that initial price instead.

You might find yourself in a situation where it’s by far a better option, and if this is the case for you, don’t hold yourself back! Here are five instances in which it’d be a great idea to accept the first offer you receive.

1. Your house has been on the market for a while now

After a while spent on the market (a fluctuating amount of time depending on the conditions of the market, but a fairly simple thing to judge), your house begins to be perceived differently. Not being snapped up instantly is a very normal thing, but in a buyer’s mind it’ll mean there are probably negative aspects of the home working against its sale.

Many won’t even bother inspecting due to this. If this is the situation you find yourself in, it’s certainly a good move to accept the first offer you get - the longer you wait, the lower that initial offer might become. Of course, don’t jump at lowball offers, just consider being more flexible than you previously were.

2. Properties in the area aren’t doing well in general

A little bit of research into the property trends in your area will give you a good perspective on what the median value is in the area, how long houses similar to yours tend to remain on the market for, and so on. With that information in mind, you’ll want to ensure you don’t create unrealistic expectations. Instead, it might be best to snap up a deal while you’ve definitely got one, to avoid months of waiting.

3. You have a serious buyer

Your first offers can sometimes be the highest you’ll receive. Especially if your house has been on the market for a while, you might be getting the best possible price; and you might also have the best possible buyer.

Somebody who wants to snap the property up with no hassle is certainly somebody you’ll be happy dealing with. Even if it means taking a few thousand less than subsequent offers, somebody with money ready to spend / pre-approval is your best bet.

4. You’re ready to buy

If you’ve got a house lined up in your crosshairs, it might be a preferable to sell sooner rather than later. A sale will greatly enhance your chance to buy the house you want - aside from you having access to more money, your pre-approval amount is sure to be higher, and less stressful to attain! On top of that, having everything settled prior to moving will add to the overall ease with which you move through the process.

5. You’ve got a buyer who’s willing to negotiate

Last but not least, a sure sign you should accept the first offer is if a buyer has made it clear they’d be happy to negotiate the terms of the sale, which might prove beneficial for you in the long run. Dealing with someone who’s flexible and happy to reach a win-win agreement will remove potential headaches down the track. A mutually beneficial sale should be any seller’s goal.