02Sep
If you’re selling your home in Portland’s competitive real estate market, there’s a good chance you’ll receive multiple offers—especially if your home is well-priced and well-presented. While this is an exciting position to be in, it can also feel overwhelming. How do you decide which offer is truly the best?
Here’s a guide to help you navigate the process with confidence.
1. Look Beyond the Price Tag
The highest offer isn’t always the best one. Consider these other key factors:
- Financing Type: Cash offers are usually less risky and close faster than financed ones.
- Down Payment Amount: A larger down payment signals a more committed buyer.
- Lender Reputation: If financing is involved, check whether the buyer’s lender is reliable and responsive.
2. Pay Attention to Contingencies
Contingencies can make or break a deal. Some common ones include:
- Inspection Contingency: Buyers may request repairs or credits after inspection.
- Appraisal Contingency: If the appraisal comes in low, it could derail the deal.
- Sale of Current Home: If the buyer needs to sell their home first, it can delay your closing.
The fewer contingencies, the smoother and faster the process.
3. Evaluate Closing Timelines
Time matters. If you need to move quickly, offers with shorter closing periods or flexibility to match your schedule can be more attractive than slightly higher offers with long delays.
4. Consider Buyer Motivation
Sometimes, buyers who write personal letters or show genuine commitment are more likely to see the process through without hiccups. Emotional investment can add stability to the transaction.
5. Lean on Your Agent’s Expertise
A seasoned Portland real estate agent can break down the details of each offer and help you compare apples to apples. They’ll point out hidden risks, negotiate better terms, and guide you toward the offer that aligns with your goals.
Final Thoughts
Multiple offers are a great problem to have—but choosing wisely is key. By looking beyond the price and evaluating contingencies, timelines, and overall stability, you’ll be able to select the offer that gives you both peace of mind and maximum value.
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