Selling a home can be a daunting process, particularly when offers start rolling in and people start touring your abode. They ask questions, possibly have contingencies, or may claim to have cash ready to go. Here are some things sellers should consider before taking offers on homes.

Consider Contingencies

Contingencies are often requested by buyers who want or need to sell their home in order to buy yours, and this can bring forth issues. The home may not sell or sell for less than they expect, which can delay your sale severely.

Lenders typically ask for a home appraisal contingency that gives buyers the chance to back out should the home be estimated for less than the asking price and request you lower your price. You’ll need to do a cost versus benefits analysis concerning accepting these contingencies.

Warnings About All Cash Offers

While an all cash offer provides you with a bit more certainty concerning selling the home, it may be because the buyer is offering less due to removing contingencies and allowing you a faster sale.

Furthermore, while a mortgage may be more time-consuming and painstaking, there are steps in place to prevent fraud. Be sure to get a proof-of-funds from cash buyers dictating the availability of legitimate funds.

Offers on Homes are Just That—Offers

Keep in mind that when considering a buyer’s offer, that that price point is merely a starting point for most who are truly interested in the home.

Sometimes, they will go for a lowball, but that’s when your real estate professional can help you come up with a realistic come back offer to help you net the greatest proceeds.