Here’s why you can’t simply accept the highest price you receive.
Should you just take the offer with the highest price? We’ve touched on this before, but the market has gotten very complex. Inventory is low, money is coming in from South Bay, East Bay, and San Francisco, and we’re seeing ridiculous offers.
You need to trust your real estate agent and ask them which offer is truly most likely to close with the offered terms and price. Some offers are simply too good to be true. We often receive multiple offers, and they may offer the moon, but, for example, one might say it’s non-contingent except for due diligence. You don’t want to get caught up in a situation where the agent has a loophole that lets them change the terms after the offer is accepted.
No one wants arbitration. We want someone who submits an offer and will fulfill what it says. That’s when you speak to your Realtor about the other agent’s reputation and whether they have a history of closing on time and with the terms they offered. It’s in your best interest to avoid renegotiation because 15 to 20 days into the transaction, many are having to renegotiate quite a few of the terms.
There’s a difference between price, terms, and who’s truly going to close. So if you have any questions about this or real estate in general, call or email us. We would love to help you.