When you are faced with
multiple bids on your home, how do you choose the right one? Your real estate agent can
help you compare the terms of each offer.
First, there is the purchase price. Consider the closing
costs you may be asked to pay for the buyer, and be sure that you understand any other terms
that might reduce your net proceeds. Can you work out an agreeable date
for you to move out and for the buyers to move in? How "clean" is each
offer? Do the buyers have another house to sell before they can close on
your home? Can you get letter from a lender that the buyers will be able to qualify
for the financing they will need?
Your Realtor can help you weigh the relative
merits of each offer, so that you can accept--or counter--the best one, and line
up one as a backup.