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You’ll review offers seller’s market is when there are more buyers but fewer properties available. The average days on market (a good measurement for determining what type of market we’re in) in Denver CO depends on the exact county and even the exact zip code you’re in. As a rule of thumb, 3-4 months average time on market is where it changes from seller’s to buyer’s market. Anything less than 15 days is obviously a great sign it’s a seller’s market.
For sellers, it’s a fantastic time to sell because you may be able to get a higher asking price. Multiple offer situations is not uncommon. If you’re selling your house and you received multiple offers, you’re in an ideal situation. If you’re in a seller’s market and you’re not having luck selling it, implement these ideas to sell your house.
Although multiple offers might be exciting, it can also be overwhelming. Fortunately, there are a few things you can do to help ease the burden and approach your multiple review offers to your greatest advantage…
Sort the offers into those who are ready to buy and those who are buying contingent on something else. Some people put offers on houses contingent on them getting approved for a mortgage or contingent on them selling their house first. 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.
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 quick sale is more important than a higher price. Of course both are important but usually one will be more important than the other.
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 and terms a buyer adds, the more work it may be for you. This is the third step to review offers.
You’ll have a pile of potential buyers wanting your home. At the top will be the ones that offer the best speed or price, whatever is more important to you, the least conditions, and are ready to buy right away. And at the bottom are those who aren’t ready to buy because they have contingencies. Once you’ve sorted your offers this way, start working through them from the top, making counters 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…
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