When you've listed your house for sale and begin to receive offers, you might be surprised to see an offer come in for more money than the house's listing price. It's understandable for you to be shocked — after all, offers that are several thousand dollars below the listing price are common. While your real estate agent is always a valuable resource for discussing offers with, this is definitely a time that you should pause to consult your agent, rather than simply get excited and accept the offer. Although there are many different ways that you can approach this situation, here are three decisions that you may wish to make.
Decline The Offer And Change The Price
There may be times that you've priced your home considerably lower than it should be — and receiving an offer above the listing price is often a sign that this has occurred. One way to proceed is to decline the offer and change the price of your home. Your agent will talk to you about the new price, but you may wish to set it several thousand dollars above the price of the offer that you received. In some cases, you may continue to receive offers that are higher than your initial listing price, which puts you in an admirable position.
Counter A Little Higher
You don't necessarily know the reason that someone has submitted an offer higher than your listing price, but you may wish to send his or her agent a counteroffer for a price that is a little higher. Although doing so might initially seem counter-intuitive, it can be an effective negotiation tactic if the buyer feels your home is worth more than its listing price, but has offered you less than he or she thinks the home is worth. You'll get a sense of the buyer's intentions upon receiving his or her offer back to you, and you'll ideally be able to work something out.
Accept The Offer
There are times that you should quickly accept the offer if someone submits an offer that is higher than your listing price. Contact an agent like those at Team Campshure Walczyk , Resource One Realty, LLC to make sure that the property is priced correctly. If so, consider yourself to be facing a stroke of good luck by receiving the higher offer. There are many reasons that the person may have offered more. It could be something as simple as a motivated buyer, or the person may have grown up on your street and is being sentimental. Whatever the case, it's an exciting time to earn more money than you expected.