Real estate markets across the country are booming, with more buyers shopping than there are homes available in many markets. With homes selling so quickly, it's important to consider all options for landing the top choices on your list of potential homes. For buyers in a competitive market, an early offer can be an appealing option for trying to land a home before more buyers get the opportunity to make a bid. There are both positives and potential pitfalls to making an early offer, and our real estate agents are here to help you decide on the best options for purchasing your next home.
While it's true that two offers are better than none, that doesn't make it any easier to make the right decision. There are many factors to consider, and you will want to weigh each offer carefully as you decide which one to accept. Our real estate agents understand the challenges in front of you and recommend the following to help guide you to the right choice.
This is only part of the equation you need to consider. If it's an all-cash offer that comes in at or above your asking price, it's an easy decision to make. In fact, most sellers will accept this offer without a second thought. While a generous offer is certain to catch your attention, the bottom line is that you should always pay close attention to the offer's terms and conditions. For example, suppose a high bid is contingent on the buyer selling another property or securing financing. In that case, it can be riskier than accepting a lower offer with no strings attached from a buyer with secured financing.