You just got your home listed and you received a strong offer! Congratulations! Now, you need to decide if you should accept your first, strong offer or hold out for a stronger offer. It’s a big decision home sellers have to make.
A seller may think they have underpriced their home and they will get a stronger offer soon or better yet, multiple offers. But that is not always the case. Most often buyers have been looking for some time and maybe even lost out on multiple offer situations on a home they wanted. When another one comes up for sale that they may want, they may make a really strong offer right away in hopes of securing the property and not being involved in a multiple-offer situation.
If a seller decides not to accept the strong offer or takes a while to make a decision, the buyer may move onto another property and the seller may lose the offer. In some situations, the home may continue to sit on the market for a while and the cost the seller more expenses and time and stress for showings.
If you do receive a strong offer right away, its important to talk to your realtor about the market conditions, terms of the offer, schedule for future showings and other items and decide if you should accept it rather then wait. Not accepting it could potentially lead to eventually even selling for LOWER price.
