We buy houses in Washington DC. As local home buyers, we have seen seller’s markets come and go. If you’re selling your house in Washington DC during a seller’s market, then you might get multiple offers. Here’s how to review seller’s market offers in Washington DC…
A seller’s market is when there are more buyers and fewer properties. For sellers, it’s an exciting time to sell because you may be able to get a higher asking price. You might also get multiple offers on your house at once.
If you’re selling your house and you received multiple offers, you might be asking yourself, “now what do I do?” Although multiple offers might be exciting to receive, it can also be overwhelming. Fortunately, there are 4 things you can do to help ease the burden and approach your multiple offers to your greatest advantage…
How To Review Seller’s Market Offers In Washington DC
First, 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.
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. In a seller’s market you, the seller, has the advantage, so you don’t need to go through the hassles that come with contingencies when you’re getting an array of offers.
Second, 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 faster sale is more important than a higher price). Of course both are important but usually one will be more important than the other.
- If speed is important to you, sort the offers by the ones who are closest to the timeline you want to move in.
- If price is important to you, sort the offers by the ones that are highest to lowest in terms of price.
Third, 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 a buyer adds, the more work it may be for you.
By the end, you’ll have a pile of offers – 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. These are always the most competitive offers, and you will get more of them in a seller’s market when the home buyers are serious. At the bottom of your offer pile 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 counter offers 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: You can sell directly to us at The House Guys.
We Buy Washington DC Houses
We buy houses in DC and the surrounding area. The House Guys are here to provide an additional option beyond working with a traditional agent. We charge no fees and no commission. Our offers are 100% free and come with zero obligations. You have nothing to lose! Sell your house fast with our simpler way to buy a home. Get in touch with us at (571) 207-5171 or enter your information in the form below to get a fair cash offer from us.