Deciding Which Offer to Choose

by Toni Itkin 04/14/2019

When selling your home you may receive many offers from different buyers, but the smart move isn’t always to pick the highest bidder. Selling a home goes beyond just picking the largest dollar amount; there are other factors to consider while selling your house and how they influence your decision:

Contingencies

Most home-sale offers come with certain contingencies before they can go through. These contingencies are certain conditions that must take place within a specific time-frame for the sale to be successful. You should pick the offer with the least number of contingencies and the shortest periods stipulated. Typical contingencies include a home inspection, approval for a mortgage and the home appraisal. When there is an inspection contingency, the buyer can withdraw his offer depending on how the inspection goes. Financial contingencies also allow the buyer to stop the purchase if they do not get a mortgage approved early enough.

All-cash offers

The best kind of offer is one that is offering cash up front. The offer may not be the highest, but it is guaranteed to go through because you don’t have to worry about a bank financing application that may or may not be approved.

Buyer pre-approval

Few people can afford to pay cash upfront for your home. The next best set of people are those who already have a pre-approval letter from their lender. This letter means that they can get a loan whenever they are ready. A buyer with a pre-approval implies that they already have everything necessary to get a credit and so the process following the offer will not be as difficult as it is for someone without a pre-approval.

Loan type

There are many kinds of mortgages, and if a mortgage from a bank backs your buyer's offer, then it is not going to be complicated. If the buyer is using an FHA loan or another government-backed credit facility, it could become involved with more processes and requirements.

Closing timelines

Everyone wants to close the process as quickly as possible and move along to other things. If the buyer wants to close immediately or under thirty days, then that is the perfect situation. You could also need some time especially if you are buying another house and would like it to be ready before moving in. Work with the offer that offers you the best timelines for your plans.

Price matters, but a lot of other things matter too when considering offers for your home. Discuss these with your real estate agent to help you decide which offer will work best for you. SO CALL ME AND I'LL HELP YOU GET THE BEST OFFER...404-229-8242 OR [email protected]

About the Author
Author

Toni Itkin

MEET TONI ITKIN

Toni Itkin is a licensed Realtor® serving buyers and sellers across BuckheadViningsSandy SpringsRoswellMarietta, East Cobb, and other high-profile areas of Metro Atlanta. 

Toni began her real estate career in 1992 with Buckhead Brokers, where she earned "Rookie of the Year” before rapidly ascending to her status as a multi-million dollar producer. Since then, she has been consecutively featured in the Who’s Who of Atlanta Real Estate for many years.

Equipped with sharp negotiating skills, an intuitive marketing acumen, and a strong network of professional relationships, Toni is a fierce advocate for her clients. Whether it’s a one-bedroom condo or a multi-million dollar mansion estate, Toni’s ultimate goal is to find her clients a home that perfectly fits their budget and lifestyle. Toni’s reputation for professionalism and trustworthiness in and out of the brokerage community is of utmost importance to her. As a Certified Luxury Homes Specialist, Toni has a finger on the pulse of Metro Atlanta’s luxury real estate market, and as a Certified Relocation Specialist, she is uniquely positioned to provide support for homebuyers who are relocating.

Toni is a member of Georgia Association of Realtors®, National Association of Realtors®, Atlanta Board of Realtors® and Haute Residence’s Luxury Real Estate Exclusive, Invitation-only Network. Toni is also a recipient of the Atlanta Board of Realtor®’s coveted Silver Phoenix Award, which means she’s achieved the organization’s "Multi-Million Dollar Club” status for a minimum of 25 years. As a Coldwell Banker Residential Brokerage agent, she is consistently ranked among the company’s top one percent of agents worldwide and has been recognized as an honoree of the International Diamond Society, International President’s Circle, International President’s Elite, President’s Premier, and Society of Excellence.

Toni is also very active in local charities and civic organizations, including Habitat for Humanity, the Best Friends Animal Society and the Atlanta and Cobb County Humane Societies. In addition, a portion of Toni’s sales commission on every closed transaction goes directly to the Cares Foundation, which makes a difference in Atlanta communities by supporting a variety of local charitable organizations.  She lives in East Cobb and enjoys traveling, playing golf and tennis, and spending time with her pets and her husband, Ernie, a Cardiothoracic Surgeon.