If you are selling your Oklahoma City house in a seller’s market, you may expect to receive an offer soon. However, once you receive an offer, what should you do? Do you just accept it Are you negotiating How can I do this? What should you do if you feel like you need to talk to someone about something?
In this blog post, you’ll learn how to prepare for making a home buying offer in Oklahoma City seller’s market.…
When it comes to accepting offers in a seller’s market, it’s best to be prepared. Here’s how to prepare for the home buying offer in a seller’s market in Oklahoma City…
How To Prepare For The Home Buying Offer In A Seller’s Market In Oklahoma City
What is a Home Buying Offer?
A Home Buying Offer is a contract that is signed by the buyer and seller of a property in order to purchase it. It outlines the offers made by the buyer and seller, including how they will be paid, what happens if either party defaults on their obligations, and any other terms of the agreement.
First, decide on the criteria that you want in the offer.
Ask yourself what’s most important to you. For example, do you want to sell quickly and get a fast possession date? Or maybe you want to get a high selling price. Yes, both of those might be important to you but one of them will be more important, so determine which is most important for you.
Second, think about what you want for a bottom-line price.
In a seller’s market, you may get a higher price than your bottom-line price but it’s also very common for property owners to accidentally over-estimate the price they think they’ll get on their house. Therefore, determine your bottom-line price. Chances are, you’ll get an offer somewhere between your bottom-line price and your preferred price.
Third, think about the possession date you want and consider any flexibility you have.
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 that the buyer is still the one with the money and they could decide to buy a different house. Decide which terms and conditions are absolutely imperative for you and which ones you’re more flexible on. That way, if a buyer has all the money and no contingencies and is willing to close within your preferred timeline, you can work with any conditions they may have.
In a seller’s market, it’s often thought that the seller has the advantage but there are times when you might want to sell now instead of putting your house up for sale, cleaning it up, and seeing what buyers will offer.