Managing an Estate? Set an offer date!

Written by Gordon's on . Posted in Blog

quiz_-_stock_image_-_banner.jpgWe equip you, as Estate Executor, with the best strategies for the real estate sale.

When we are selling a property, we ensure everything is ready. All the information a potential buyer could want to know is available online. So at any time an offer can roll in, right? Well, it’s actually better to let potential buyers know that you will only be entertaining offers at a specific date and time.So, let’s say we listed the property at noon on a Friday. We would get you to sign a “direction of offer”, that states you are prepared to deal with offers on the property at 1:00 pm on Wednesday.

Why would you do this?

Well, when a property is listed buyers can be anxious to see it. They want to see it and get an offer in right away—effectively cutting off competition by being quicker. The thing is, if you get a quick offer it may be conditional (meaning they can back out of the sale) or the offer is lower than what you could get from someone else.

By letting the property sit on the market for a few days, you give more people the opportunity to view it, and give them time to review the information you have already provided. Potential buyers can meet with their bank and get their finances in order.

Holding offers to a specific date and time will also help you get an unconditional offer at the right market price. However, if the only offer you get is lower than your asking price, and more than a dozen potential buyers have looked at the property, you may be asking too much for the home.

You set a time that is best for you, so you are at your best. You don’t have to worry about a frantic offer coming in on a Sunday evening. Planning a sale makes it easier for you, and the buyer, to come to a solid agreement. 

This also positions you to fulfill your role as Estate Executor


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