Do I Accept the First Offer on My House, or Wait and …

Should you take the first offer on your house? It depends. Sometimes it works out to negotiate or wait for another offer, but an old real estate adage states that the first offer is the best offer. Even if the offer is … See more

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FAQs about Do I Accept the First Offer on My House, or Wait and … Coupon?

Should I accept a first offer on my home?

Most sellers hope to have multiple offers, but sometimes it's best to take the first offer you receive. When to Accept First Offer on Your House It may be tempting to hold out for a better price when selling your home, especially when your home is newly listed. ...

Is your first offer your best offer?

“I always tell my clients from personal experience that your first offer is usually your best offer,” Napolitano says. When there’s limited inventory and high buyer demand, sellers generally have more leverage and buyers are typically willing to offer the asking price at the very least when the home hits the market. ...

When should you accept a home offer?

Here are six scenarios where the first offer is the one you’ll want to accept. When you get an offer as soon as it hits the market. When it’s a cash offer. When it’s a contingency-free offer. When there’s limited interest. When you need to sell fast. When your agent advises you to take the offer. The Guide to Understanding Your Home Value. ...

When should you accept a first offer?

There are certain situations when considering accepting the first offer on your house makes sense. If it’s the least favorable time of the year for real estate, the sweet spot for home sales is typically the spring. As the months tick by and the weather cools, the real estate market tends to do the same. ...

What is a good price for a first offer?

When potential buyers put in their first offer, they typically do so at a level of between 5% and 10% below the asking price. Generally, as the seller, you would come back with a price above their offer but below your original asking price. This process continues until you find a price with which both parties are happy. ...

Should I Say Yes to my first offer?

Before you say yes to your first offer, take some time to consider its value. Some aspects to consider include: Price: Obviously, the closer the offer is to your listing price, the better. All things being equal, if the first offer is within 10% of your listing price, it’s worth serious consideration. ...