Does the Highest Offer Always Win?
Think the highest offer on a home always wins? Think again. Here are four reasons why a seller may not choose the highest offer:
1. A buyer brings an all-cash offer: A buyer paying cash means there won’t be any financing pitfalls — and sellers LOVE avoiding pitfalls.
2. A buyer can close ASAP: If a seller is antsy to get moving, an offer from a buyer who can close quickly will zoom to the top of the stack.
3. A buyer shares their story. Sometimes buyers want sellers to know exactly why their house is “the one.” And sometimes, that’s all it takes for a seller to agree — especially if a seller has lived in the home for decades and their move is a sentimental one.
4. A buyer doesn’t ask for contingencies. A common contingency is that a buyer must sell his or her home before buying. Sellers love when an offer is free and clear of cumbersome contingencies totally out of their control.
It’s true — you want to go in with a strong offer price-wise, but that’s not the only thing sellers are looking for. Sellers want an offer that’s competitive, clean, AND close-to-asking price — the closer you can get to all three, the better!
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