It’s never a good idea to just take the highest bid and run, sit down and consider any contingencies that come with the cash. Your selling situation should absolutely come into consideration when you receive offers on your property. You’re selling your house for a reason — maybe you need more space, relocating for work, or you just want to upgrade.
If your home is deeply sentimental to you, it might matter whether your potential buyers are planning to tear it down or leave it as is to raise a family. If profit isn’t your primary motivation – and it shouldn’t always be — taking those things into consideration will help you through the emotional aspects of the transaction.
On the more practical side, if you’ve already purchased another home, a quick closing could mean the difference of thousands of dollars for you. If one buyer offers a higher bid but has their own home sale contingency, accepting a lower bid with a quick closing could save you from having to swing two mortgages for any length of time.
There’s no way to overstate it — cash is king. If a buyer can pony up all cash for the property, even if it’s a bit lower than the other bidders, it’s something to consider. An all-cash deal means no lenders and no mortgages to slow the process.
Whatever your unique motivation for selling is, make sure the offer you choose matches it.