Are you selling your house in New Jersey during a seller’s market? If so, you will get an offer very soon! However, as soon as you get an offer from a potential buyer, what should you do? In this post, you will understand how to be prepared for an offer in a seller’s market in NJ.
In a seller’s market, you’re almost certain to get an offer on your house. But what should you do when you get it? What will you do? Will you negotiate it or just accept it?
When analyzing an offer in your New Jersey house in a seller’s market, it’s best to be prepared. Here’s what you should do to analyze that offer in NJ.
How To Prepare For The Home Buying Offer In A Seller’s Market In New Jersey
1) Decide on the criteria that you want in the offer.
What’s more important to you? Selling your house fast? Getting a higher selling price? Both? Sure, it makes sense that both are important, but one is more important than the other. So determine which of these criterias are more important to you.
2) Think about what you want for a bottom-line price.
In a seller’s market, you may get a higher price than your bottom-line price but it’s also very common for property owners to accidentally over-estimate the price they think they’ll get on their house. Therefore, determine your bottom-line price. Chances are, you’ll get an offer somewhere between your bottom-line price and your preferred price.
3) Think about the possession date you want and consider any flexibility you have.
If you don’t need to move right away, you can probably be open to better offers if you don’t press for a specific possession date. In that manner you’ll be able to find out what buyers are willing to offer for your house. However if you do need to move fast, you might consider a lower offer with an earlier possession date.
4) Remember that you’re still the seller.
Even in a seller’s market, don’t forget that you still need the buyers (after all, he is the one with the money and he could decide to buy a different house). In that way, pick the most important terms and conditions, and be prepared to be flexible on others. It’s all about being able to negotiate in reasonable terms for a win-win situation.
In a seller’s market, it’s often thought that the seller has the advantage but there are times when you might want to sell now instead of putting your house up for sale, cleaning it up, and seeing what buyers will offer.
That’s why we offer a house buying service at Orange Sun Investments. We’ll give you a cash offer on your NJ house. Just call our team at 1-888-WE-BUY-NJ or click here and enter your information on the form, and we’ll be in touch.