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Highest vs BEST Offer. Which to Choose?



Click Here to BOOK A FREE, 100% No Obligation Consultation with Lisa Kelly
 
Homeowners who are listening to the reports or even hearing stories from their neighbors know we are currently in one the hottest sellers markets in history. Have you heard terms like “Highest and Best, Bidding wars”, multi-offer situations”?
 
 It’s no secret that both buyers and sellers are prospering during this time. Especially with the super low interest rates right now. 
In the Greater Lakeland area there are 8 buyers for every home on the market right now. For every 10 homes sold this past quarter, sellers of 9 of those 10 had a very interesting choice to make:
Which offer to accept!
 
So if you’ve done all the proper preparations, your home is in good condition..strap in!, Because chances are you will have fast and furious buyers coming out of your ears! And you too, will be in this complex decision making situation. 
Hint: The Highest Offer is not always the Best Offer. 

The very first thing your Realtor should do is publish a date and time to give buyers agents a deadline to get their offers in, and your Realtor should let all the buyers agents know you will need at least 2 days to make your decision. This will give your Realtor time to verify the credentials of the offer you like most. 
By doing this initial step, takes a lot of pressure off of you to make a rushed decision. Remember, you, as seller are in the drivers seat. 

As a homeowner, one thing you need to avoid is the temptation to crank up listing price too high. The reason for this is simple: Most likely your buyer will be financing their purchase, and the home must appraise for at or above the contractually agreed upon price. 
Although both parties have agreed on a sales price, doesn’t mean the home will appraise for that amount. If the appraisal comes in lower than the agreed upon price, the buyer has to come up with additional cash at closing..which is rare OR you as seller will have to lower your sales price to the appraised value amount.
 
Which brings us to the # 1 reason why the highest offer is not always the Best offer. 
If you consider a higher offer, and your buyer is financing, put the risk back on the buyer by having your Realtor put in your contract that the buyer will agree to pay any differences, should the home not appraise for the contractual purchase price.
 
If your buyer agrees to this, Here’s the important part: Ask for documentation to prove they have the additional funds if needed, and a letter from their lender with the new qualifications. 
 
When looking at all of the offers, don’t loose sight of the big picture. 
Let’s talk about some factors to consider other than price: 
Look at their financial strength:  
Do they have cash to back up their higher offer? 
Are they offering a bigger earnest money deposit or larger down payment? 
Is the offer All Cash? 
If you answer Yes to one or more of these, this may be an offer to put on the ‘short list’ to consider. 

Buyer concessions 
Is the buyer asking you to pay towards their closing costs? 
Are they offering the minimum down payment based on the type of financing they qualify for? 
Does their preapproval letter have a higher interest rate? *This may indicate they have a weaker credit score and does not qualify for the primo rate. 
Is the offer contingent on the buyers current home selling? 
If you answer yes to one or more of these, this may be an offer to put on the bottom of the stack for now. 

Beware of Pitfalls: 
Although you have several offers to choose from, don’t let this sense of empowerment go to your head. 
Don’t string buyers along, it could backfire on you. Some buyers will withdraw their offer if they feel like you’re taking too long. That’s why I mentioned earlier to have preset times to respond. 
Countering an offer can be risky too! Strongly consider the number of serious offers you have in hand before upping your ante. It could easily backfire on you and leave you with zero. 
But if you only have a couple of offers, countering is quite acceptable. If you have an experience Realtor, they will know how to best advise you. 

We’ve only talked about a few of the complexities of deciding how to choose the best offer. Because there are so many facets to consider, it’s best to have this conversation with a seasoned Realtor Prior to even putting your home on the market. 
 
Make sure your representative is crystal clear of the points that are most important to you based on where your next chapter in life takes you. 

Im Lisa Kelly with Premier Realty. I hope I gave you a few things to think about before putting your home for sale in this hot sellers' market. 
If you’d like a free 15 minute consultation with me personally, I’d love to talk with you! You have my promise: No obligation, no selling what so ever..just your questions answered. 
Click on the book now link below to check my calendar, then choose a date and time that works best for you. 
 



 

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What my clients are saying  

My experience while purchasing my first home was the best experience I've ever experienced. With Lisa's guidance it was a stress free experience. She made sure I was comfortable and understood every step. She gave her opinion from the heart. You can tell she genuinely wanted you to have the home you desired. She is very personable and that's great when you are purchasing a large investment. I am forever grateful of her help. So if you are looking to have a wonderful experience while purchasing or selling any property Lisa Kelly Realtor is the way to go.

 

~ Candace Engram

I had such a positive experience working with Lisa. Not only is she a complete professional, but such a compassionate human being. Her knowledge guiding me through the Florida real estate process was so helpful as a first-time Florida homebuyer. She was always prompt and responsive while going above and beyond. She attended all key inspections in person and kept me informed throughout the entire process. If you are looking for a great real estate experience, look no further. Lisa is your gal to get the job done. I will definitely be working with her again in the future.

 

~ DJ Bradley

I had such a positive experience working with Lisa. Not only is she a complete professional, but such a compassionate human being. Her knowledge guiding me through the Florida real estate process was so helpful as a first-time Florida homebuyer. She was always prompt and responsive while going above and beyond. She attended all key inspections in person and kept me informed throughout the entire process. If you are looking for a great real estate experience, look no further. Lisa is your gal to get the job done. I will definitely be working with her again in the future.

 

~ DJ Bradley

We can’t say enough good things about Lisa Kelly! From the moment she stepped through our front door, she demonstrated all the characteristics you want in your realtor: integrity, friendliness, optimism, thorough knowledge of her field, state-of-the-art technical savvy, unflagging energy and sensitivity to all our own needs and feelings. Our house sold in four days and we are certain this success was largely due to Lisa’s skill and hard work. We highly recommend Lisa Kelly to anyone looking for a top notch realtor!

 

~ Tom and Kim Manske

We can’t say enough good things about Lisa Kelly! From the moment she stepped through our front door, she demonstrated all the characteristics you want in your realtor: integrity, friendliness, optimism, thorough knowledge of her field, state-of-the-art technical savvy, unflagging energy and sensitivity to all our own needs and feelings. Our house sold in four days and we are certain this success was largely due to Lisa’s skill and hard work. We highly recommend Lisa Kelly to anyone looking for a top notch realtor!

 

~ Kim Manske

Sidney Wyland Lisa Kelly was our realtor that helped us with our move from Utah to Lakeland. She is a very good resource for us in Lakeland and helped us buy our new home. We found Lisa on the internet. She has helped us with all the contacts and scheduling to insure all things here went smoothly. The closing on our home was completed on time which was very important as we had are household goods being delivered from two different states. She also continues to be there for us for any referrals or help we may need here locally. I would highly recommend her to anyone buying a home.

 

~ Rick and Sidney Wyland

Just wanted to thank Lisa for a job well done. I worked with Lisa on 2 of our homes this past year. We sold one in June and another late in the year. Everything went smooth and all details were handled in a very professional manor. Thanks again Lisa; nice working with you. Lee Brown

 

~ Lee and Frankie Brown

We had been looking for a new home for about three months. We changed Realtors and began working with Lisa. She showed us a couple of places. We talked about limits on price and location. We looked again on a couple. We did not care for those. She emailed us about a home that was being restored for a flip. We met her at our current home. We liked the location and made an offer which was accepted. She did a great job getting the seller to accept and a wonderful job from there. The closing took about fifteen minutes. We have been very happy from that day on. Patricia and Bill Crabb

 

~ Bill and Patricia Crabb

We had been looking for a new home for about three months. We changed Realtors and began working with Lisa. She showed us a couple of places. We talked about limits on price and location. We looked again on a couple. We did not care for those. She emailed us about a home that was being restored for a flip. We met her at our current home. We liked the location and made an offer which was accepted. She did a great job getting the seller to accept and a wonderful job from there. The closing took about fifteen minutes. We have been very happy from that day on. Patricia and Bill Crabb

 

~ Bill & Patricia Crabb

Just wanted to thank Lisa for a job well done. I worked with Lisa on 2 of our homes this past year. We sold one in June and another late in the year. Everything went smooth and all details were handled in a very professional manor. Thanks again Lisa; nice working with you. Lee Brown

 

~ Lee & Frankie Brown

01/03/2017 - shunter317 Bought a Single Family home in 2016 for approximately $175K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa is an exceptional agent as she knows real estate law and the local market. She communicates and is extremely responsive to her clients questions and needs. She walked us through a complicated contract. We consider Lisa a new friend.

 

~ What Others Had to say

Highly likely to recommend 08/09/2016 - HappyBuyerNEOH Bought a Single Family home in 2016 for approximately $225K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: I highly recommend Lisa Kelly! She was awesome to work with through the whole process. Her communication and promptness went above and beyond my expectations. Working in the mortgage industry, I see all types of realtors, if you want a genuine, awesome, go getter- she is your girl!

 

~ What Others had to say

Highly likely to recommend 10/27/2014 - jessbparker Bought a Single Family home in 2014 for approximately $75K in Auburndale, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: I cannot say enough about Lisa Kelly. She helped my husband and I buy our first home when we had limited funds and difficult circumstances. She is extremely knowledgeable about homes, market, taxes- anything you could want to know. She is also an excellent advocate for her clients during negotiations, which really came in handy when you're a nervous first-time home buyer.Less

 

~ What others had to say

Highly likely to recommend 02/22/2014 - par167 Bought a home in 2014. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa Kelly is the hardest working woman I know! If you are in the market to buy or sell take it from my personal experience she delivers results!In Polk County or anywhere else for that matter you will be hard pressed to ever get better service. Paul Renner.....

 

~ What others had to say

Highly likely to recommend 02/25/2012 - user027478 Bought and sold a Single Family home in 2011 for approximately $275K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa is the most professional realtor I've ever worked with... she's direct, honest, highly-knowledgable, very responsive and a consummate professional. She played fundamentally important roles in helping us to sell our house in a tough market. She's a hard worker and also gave us great advice and we were able to sell after listing for about 30 days. She then helped us find and close on our dream home. Her persistance and negotiating savvy helped us buy a house that was not a very convential listing. If we'd had an average realtor, we'd have been a lot less successful with both our deals. I'd recommend Lisa to anyone who wants to work with a genuine professional. She could write a book on what it takes to be an outstanding service provider.

 

~ What others had to say

02/09/2012 - Alyson7707 Bought a Single Family home in 2009 for approximately $125K in Bartow, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: We absolutely loved our experience with Lisa.. She is incredibly knowledgeable and dedicated to finding the home of your dreams. We couldn't be happier with the home she found us or the time we spent with her--she made the experience exciting and easy. We do not hesitate to recommend her to friends and family and will absolutely work with her in the future. Thanks again Lisa! -Michael & Alyson Elrod

 

~ what others had to say

Highly likely to recommend 02/08/2012 - AimeeWeed Bought a Single Family home in 2010 for approximately $100K in Auburndale, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa was always quick to respond to my questions. I honestly think that my family and I would not be in this wonderful house without her hard work. She is honest, not afraid to give her opinion in a helpful way, and she is very knowledgeable in all aspects of her job.

 

~ what others had to say

Wonderful wonderful experience. Lisa is what I call a dream maker. I had the dream, and she made it a reality.Lisa's hard work, her quick response, her compassion in knowing I was a single mom purchasing my first house, has earned my loyalty in using her as my realtor for life.

 

~ what others had to say

Highly likely to recommend 03/09/2011 - reedswife11 Bought and sold a Single Family home in 2011 for approximately $75K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: This woman is amazing, we have run into every road block imaginable and she has negotiated our problems quickly and effectivly everytime. Always available and Always puts her clients first

 

~ what others had to say

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