Why the Highest Offer Isn’t Always the Best Offer in Real Estate
It may come as a surprise to you, but the fact is that the highest offer is not always the best offer when it comes to buying real estate.
In this video, Ryan Haley lets us in on why it’s not necessarily the highest offer that wins every time.
If you’re a buyer, you need to figure out what it is that the seller really wants. Yes, a seller will evaluate their net sheet, and they are very conscientious of how much money they’ll put in their pocket. And money definitely talks.
However, there are things that are equally as important as the amount of money the buyer offers. They may want to look at the cleanest offer. For instance, how many contingencies are actually in that offer? Is the offer contingent upon financing, an appraisal, or a home sale? It’s important to understand that right now, the cleanest offers are the ones carrying the highest weight.
Convenience also plays a factor when offers are considered. When does the seller want to sell? Do they want to settle sooner to be able to get onto the next property, or do they need more time?