Ignite FB Tracking PixelShould You Accept a Buyer's Offer? - Barry Macchione

Should You Accept a Buyer's Offer?

by Barry Macchione 09/10/2018

Deciding whether to accept a buyer's offer to purchase your house can be exceedingly difficult. Fortunately, we're here to help you assess the pros and cons of a homebuying proposal and ensure you can make an informed decision.

Now, let's take a look at three tips to help you determine whether to accept an offer to buy your home.

1. Examine the Current Housing Market

The current housing market may play a role in your ability to stir up interest in your house. In addition, the real estate sector may impact whether you're able to receive multiple home offers at or above your residence's initial asking price.

To understand the present state of the housing market, you should look at the prices of recently sold houses in your city or town. If houses are selling quickly, you may be operating in a seller's market. Or, if houses linger on the market for many weeks or months before they sell, you may be operating in a buyer's market.

Ultimately, a seller's market may lead to many offers on your house in the foreseeable future. If you receive an offer that fails to match your expectations when you're operating in this type of market, you may want to decline or counter the proposal in the hopes of receiving superior offers down the line.

On the other hand, it usually requires hard work and persistence to sell a house in a buyer's market. And if you receive a competitive homebuying proposal in a buyer's market, you may want to accept this offer.

2. Consider Your Home's Condition

The condition of your house may prove to be a critical factor as you debate whether to accept an offer. If you assess your house's condition closely, you may be better equipped than ever before to make the best-possible decision about a homebuying proposal.

If you feel a home offer is fair based on the current condition of your house, you may want to accept the proposal. Conversely, if you feel a buyer has submitted a "lowball" proposal based on your home's condition, you should not hesitate to reject or counter this offer.

3. Consult with a Real Estate Agent

When it comes to evaluating a homebuying proposal, it generally is a good idea to collaborate with a real estate agent. This housing market professional can help you weigh the advantages and disadvantages of accepting an offer and determine the best course of action.

Typically, a real estate agent will present a buyer's offer to you and offer recommendations about how to proceed with this proposal. As you assess all of your options regarding a homebuying proposal, a real estate agent will be able to respond to any concerns or questions that you may have too.

Ready to take the guesswork out of reviewing a homebuying proposal? Use the aforementioned tips, and you can streamline the process of deciding whether to accept an offer to purchase your home.

About the Author

Author
Barry Macchione

Barry Macchione has been a RE/MAX REALTOR® since 2000 and a member of the RE/MAX Hall of Fame since 2010. Each year Barry has achieved the 100% Club for the past 18 years which is an Elite Club of RE/MAX agents. As a member of the East Polk County Association of Realtors since 1997, Barry has extensive real estate transaction experience with hundreds and hundreds of homes sold throughout Central Florida, including Commercial transactions. He is well versed in all aspects of both Seller and Buyer representation and sale of businesses and commercial property as well and achieves his clients goals and takes the stress out of today's real estate market.

Barry's personal interests include Bass Fishing, Boating and Martial Arts.Barry has traveled the country for many years fishing on the B.A.S.S. and FLW Tournament circuits as well as competed locally and was successful in National competition as well. Barry is also a Martial Arts Instructor for the City of Winter Haven Recreation Department. Having studied and trained continuously in the Martial Arts since 1974, he holds a high rank is the art of American Goju-ryu Karate, a Japanese based Karate brought to the United States in the early 1950's. For 44 years, Barry has been a member of the same Martial Arts Organization the U.S.A.G.O. and has competed successfully in hundreds of Martial Arts tournaments and now teaches and trains all ages of students and supports their participation in today's tournaments with them.

Barry enjoys the outdoors whether just boating on the many lakes and rivers of Florida including the Winter Haven Chain of Lakes or occasionally just fishing and capturing the serenity and beauty of the sunsets while on the water. If you are looking for a Real Estate Professional whom has lived in the area for 57 years and knows the area well, Barry is your REALTOR®. Call or text Barry today or check out the many social media channels he has and make contact today, he looks forward to hearing from you!