How to Review Seller’s Market Offers in Fort Myers (And Around the 33907 Zip Code)

Seller’s markets come and go. If you’re selling your house in Fort Myers or around the 33907 zipcode during a seller’s market, then you might get multiple offers. Here’s how to review seller’s market offers in Fort Myers…

A seller’s market is when there are more buyers and fewer properties. For sellers, it’s an exciting time to sell because you may be able to get a higher asking price. You might also get multiple offers on your house at once.

If you’re selling your house and you received multiple offers, you might be asking yourself, “now what do I do?” Although multiple offers might be exciting to receive, it can also be overwhelming. Fortunately, there are 4 things you can do to help ease the burden and approach your multiple offers to your greatest advantage…

How To Review Seller’s Market Offers In Fort Myers

The first step is to categorize the offers based on their contingency status. This will help you understand how likely each offer is to result in a closed sale.

  • Ready to Buy Offers: These are the strongest offers as they come from buyers who have already secured financing or don’t need to sell another property before purchasing yours. Ideally, they have pre-approval for a mortgage, which means a lender has verified their income and creditworthiness and is prepared to loan them a specific amount. This eliminates a major hurdle in the buying process and signifies their serious intent to move forward quickly.

  • Contingent Offers: These offers involve some additional conditions that need to be met before the sale can be finalized. Common contingencies include securing mortgage approval or selling an existing home. While these offers might be attractive in terms of price or other factors, they come with some uncertainty. For instance, a buyer with a mortgage contingency might not be approved for the loan amount they need, causing the deal to fall through. Similarly, a buyer contingent on selling their current home could delay the closing process if their property takes longer than expected to sell.

You don’t have discard the contingent group but it’s often easier and faster to work with someone who doesn’t buy based on a contingency.

Second, sort the remaining ones based on which is more important to you – either the speed of the sale or the price. (For some sellers, a faster sale is more important than a higher price). Of course both are important but usually one will be more important than the other.

  • If speed is important to you, sort the offers by the ones who are closest to the timeline you want to move in.
  • If price is important to you, sort the offers by the ones that are highest to lowest in terms of price.

Third, if you have several that match your preference above (such as: if you want to move by the end of the month and you have several offers that work within that timeline) then sort by the ones that don’t add any conditions. The more conditions a buyer adds, the more work it may be for you.

In a competitive housing market, after generating interest and showings, you’ll find yourself with a stack of offers vying for your property. Sifting through them can be overwhelming, but prioritizing becomes key. Ideally, you want offers that land at the top of the pile. These will likely be from buyers who are serious and act fast. They’ll present strong financial pictures, with pre-approval already secured, and may even offer above asking price. Additionally, these offers will have minimal contingencies, meaning there are fewer hurdles to jump through before closing the deal. This translates to a smoother, faster sale with less risk of the deal falling apart.

On the other hand, the bottom of the pile might hold offers with significant contingencies attached. These could be tied to the sale of the buyer’s current home, securing financing, or even inspection results. While the offer price might be enticing, these contingencies introduce delays and uncertainties. The buyer might not be able to secure financing, their current home sale might fall through, or the inspection might reveal unexpected issues requiring negotiation. These factors can drag out the closing process and open the possibility of the deal collapsing altogether.

Once you’ve sorted your offers this way, start working through them from the top, making counter offers from a position of strength!

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 Core Real Estate Properties.

We buy houses in the 33907 zip code and all around the Fort Myers area. Get in touch with your office at 239-360-3176 or click here and enter your information to get a fair cash offer from us today.

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