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2957 Kings Walk

How do you handle multiple offers on a property?

The Cueny Team has been quite busy in the last several weeks and it happens to be because of what much of the  Atlanta market is buzzing about –  multiple offers for properties in all price ranges throughout the North Fulton area. Residential properties and land lots are not just seeing multiple offers, but often selling above the listing price. We thought this would be the perfect time to share some information about multiple offers with you.

1)      So first of all a question everyone is wondering, will I receive multiple offers? Keep in mind that just because your neighbor received multiple offers does not necessarily mean you will as well. Each property is unique.  Lot size, upgrades to kitchens and bathrooms, age of systems, exterior, elevation and landscaping all influence how quickly a property may sell … and of course list price, marketing and negotiations all factor in.

2)     Now,  I have multiple offers  – which one do I take?  If you do receive multiple offers, think through and discuss with your REALTOR® the best options on how to handle this situation. Sometimes it is best to call for highest and best offer by a certain time. But other times that can scare off the buyers and you are left with no offers or buyers.  Understand the risk and reward associated with how you handle multiple offers. Your experienced REALTOR® will be able to counsel you through this with options and various scenarios.

As you may prepare to put your property on the market or maybe already have your property on the market,  here are some points to consider if your property does receive multiple offers:

3)      Should I take a back-up offer? Some would consider a back-up offer additional insurance on selling your property. The reality is that you just never know if that first buyer may terminate for one reason or another. Having back up offers gives you peace of mind in knowing that you do not have to continue to show your home, go through the contract and negotiation process and hopefully you have sold your home to this buyer or the next.

4)      May I counter all offers if I receive multiple offers? Talk with your real estate professional, but keep in mind you can only sell your house to one buyer at a time.

5)      Is there a specific way to handle multiple offers?  No, there is not a set procedure on how multiple offers are handled.  It is important to have a knowledgeable REALTOR® share with you the various options and ways to handle the situation so that you capture the best possible price and terms in selling your home.

The Cueny Team is ready to assist you in selling your home. Our team of licensed REALTORS® will work hard to make sure you receive the best service possible whether you get multiple offers or just one!

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