As a home seller in Orlando, Florida, you always want to get the best price for your house. Right now, the Orlando real estate market is in a seller’s market, which means that the inventory of homes is low and that there are a lot of buyers searching for properties.
So when you get multiple offers on your home when you're selling, what are your options?
Your first option is to try to negotiate with the first offer, and if you can't come to an agreement, you should start to negotiate with your second offer. From my experience, this approach works; however, from what I have found in the central Florida housing market, it's always best to ask for the buyers to come back with their best and final offers. Think about it this way: If you're the buyer and you love this house, you are going to put your best foot forward because you don't know what other buyers will come back with. If every potential buyer does this, it ensures that the seller will almost always get the best price and terms which they are looking for.
Something else that your REALTOR can do for you is that when they ask for the buyers' best and final offers, they can let the buyers know what's important to the sellers. This can be things such as a high escrow, short inspection period, waive appraisal contingency, etc. This ensures that when the offers come back, they could match what the sellers are wanting in their contract.
Once you get your house under contract, you can still continue to use the leverage you have throughout the closing process. If something pops up in the inspection report that the buyers want to be fixed, you can lean on the fact that you have other buyers wanting to purchase your house as well. This leverage gives you better positioning during the negotiation process.
As always, we are here to help you! Please feel free to Contact Us, and I hope that I have helped you get real estate smart.
