Beaverton Real Estate: Reviewing Multiple Offers, 3 Seller Tips

By Kimberly Shute

We talked last month about navigating a multiple offer scenario for buyers, now I’m sharing some tips for sellers. Multiple offers may seem like a seller’s dream, but without preparation, it can create an entirely new set of obstacles.

  • Figure out what is important to you. Offers can vary by more than just price, their terms can be just as important. Do you need to close quickly? Will you need rent back? Or is price all that matters? Staying focused on your priorities will ease the stress of making the right decision.
  • Cap the number of offers you consider. Every offer you receive represents a real family and it takes both time and energy to put one together. If you have 15 offers, they typically won’t vary significantly in price or terms. Having more than five can often complicate the situation and add unnecessary stress.
  • Create a process for reviewing offers. Emotions can run high when multiple offers on the table. Start by considering only price and down payment, eliminate some offers based on that. Then, consider close date, closing cost requests and inspection details to eliminate others. Finally, read personal letters to make a final decision. If you have a process like this to fall back on, receiving multiple offers won’t feel so overwhelming and you’re more likely to make the right decision financially.

Keep these tips in mind and try not to stress too much. Remember, getting multiple offers can be a good thing!

Kimberly Shute, Certified Senior Housing Professional with Keller Williams offers a division, PDX Mature Moves, which specializes in working with adults 55+. For more information contact Kimberly at 503-227-1302.