We are currently in a seller’s market, but it won’t last forever! If you’re selling your house in Little Rock during a seller’s market then you will be busy with reviewing many offers. Here’s how to review seller’s market offers in Little Rock…
When we are in a seller’s market (like we are now), that means there is a low inventory of homes on the market and a lot of buyers looking. For sellers, it is the best time to sell your house because you will likely be able to set a higher listing price AND receive multiple offers on your property.
Most home owners do not have experience selling in a seller’s market, let alone understanding what to do with multiple offers coming in. This is an exciting thing to happen but it can also seem overwhelming at times. Below we have listed a few ways that you can strategically review the offers that you are getting on your property that way you can take full advantage of the opportunity in front of you.
How To Review Seller’s Market Offers In Little Rock
The first thing to do when looking at multiple offers is to find the buyers who are prepared to buy right now. What we mean by this is separate the offers that have contingencies form those that don’t. A lot of buyers submit offers that are contingent on approval for financing or a host of other factors.
The reason this is something we suggest in a seller’s market is because you have leverage and don’t need to work with contingent buyers when you have multiple options. Save yourself some time in the selling process and go with buyers who are ready to but now.
Next, determine what is going to be more important to you: the final sales price of how quickly it can be sold.
- If speed is more important, sort the offers by the ones who are closest to the timeline you want to move in.
- If final sales price is more important, sort your offers by highest price to lowest.
If you find that you get multiple offers that meet your price AND your timeline, then look at the conditions of the offers. Eliminate any that have conditions that may prolong the sales process.
When it comes down to it, you will have many offers in this seller’s market. By using this strategy above you will have a categorized offer sheet with offers that can close the quickest, have the highest price, and contain the least conditions. At that point you can decide to go with an offer or you can use your leverage and counter the buyers with what you would prefer!
If this is overwhelming or if you don’t have as many offers as you’d like, or if you don’t have the offers that you want, there is another way to sell: you can sell directly to us at Sunny Day Homes LLC.