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If your home is for sale and you receive early offers, how should you handle them?
You want to start by identifying whether you're in a buyer's market or a seller's market. Certain neighborhoods have a lot of inventory and are in a buyer's market, while some have low inventory and a lot of people wanting to move in, creating a seller's market.
If you're in a buyer's market, you want to respond to the offers as quickly as possible and keep the buyers engaged; we don't want them moving on to the next property. If you're in more of a seller's market, we will sometimes say that no offer should be accepted in the first seven days.
Also keep in mind your motivation to sell. Are you in a time crunch? Do you have a pending relocation? Do you have another property that you've bought and need to close on?
These are the things you'll need to weigh as you receive early offers. If you are highly motivated to sell, you want to respond as soon as possible to keep that buyer engaged and moving forward.
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Identifying the state of your market can guide your decision making.
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