People sell homes for many reasons and there is usually at least one primary reason and a secondary reason.
Some examples of primary reasons are:
- To move for a new job
- A child or children on the way
- Avoid repossession
The secondary reason is often price. When looking at the list above it’s easy to see how the price you achieve may not be as important as some of the other things, even though they are all of course linked.
The primary reason should remain the focus throughout the whole process and especially when the offers start to come in.
Lets say that your primary reason for moving is that you have a child on the way so you need to move to a bigger place. In this situation you have multiple offers on the table so you can pick and choose.
This buyer is offering above your asking price which you like the sound of but they are in a chain and need a mortgage. They need to sell their home first and their home is currently under offer.
The second buyer is offering just below the asking price but they are a cash buyer with no chain and ready to go.
Choosing Offer 1 could potentially get you more money but there is also a chance of it falling through if the buyers buyer pulls out or doesn’t have everything sorted. The risk here is that whilst you wait, you’re getting closer to the delivery date and things can become even more stressful, especially if things go wrong.
With Offer 2 although you might get slightly less money, at least its sure money from a cash purchase and there is no chain.
It should therefore be a quicker sale which will put you in a much stronger position for moving on to your next home.
This is just one example but the main point is to keep your primary reason in mind throughout the whole sales process.