With such huge demand for housing in Norfolk County you might think that now would be a good time to sell your home without using a REALTOR®. You probably can but there are good reasons why it wouldn’t be the best time to go it alone.
In a seller’s market, the way to get the best price is to have the most exposure in the shortest amount of time. REALTORS® use their connections, knowledge and experience to position properties that will create a favourable response from today’s buyers. The result is often competing offers also known as “bidding wars.”
During the course of marketing 32 Lakeview Ave., Port Dover for sale we attracted multiple offers. Multiple offers (bidding wars) exist any time more than one buyer submits an offer on a property at the same time.
Generating and presenting multiple offers is a complex process. A seller in receipt of competing offers has several possible options to consider. They are:
- Accept one and reject the others;
- Sign one back and reject the others;
- Reject all offers, sending them back to the buyers for improvement;
- Sign one back and hold on the other offer(s) pending a response from the buyer getting the sign back;
- Hold on to one or more offers while sending the other offer(s) back to the buyers for improvement, or
- Hold on to a couple copies of each offer, and send the other copies back to the buyers for improvement if they so desire.
Each of the above options has positive and negative consequences for the seller. If you’re thinking of selling and want our assistance in obtaining the most amount of money and assistance in navigating the complexities of the current real estate market we can be contacted at 519.586.7922, 519.426.2072 or by clicking here.