A Buyer in Hand is Worth Two in the Bush

Selling

In DC's highly competitive seller’s market where there are more buyers than there are homes for them to buy, some sellers may feel like the ball is in their court.

And they would be right when it comes to choosing which offer to accept, which contingencies to allow, the closing date, or even which improvements they are willing to make to their home or condo prior to selling.

One thing to remember though, is that there is always a line that shouldn’t be crossed.

Interest rates can change, financing might not go through, or the appraisal might not come back at the price that you have agreed to. These are all opportunities to work with your buyer to make sure that the sale still happens.

You may think that, because buyer demand is so high right now, you can choose to make your buyer jump through hoops. But what happens if they reach their limit and need to walk away? You’re starting over… weeks, maybe months later… and other buyers will wonder what’s wrong with the house since the last deal fell through. 

"But we can always tell other buyers' agents it was the previous buyer's fault the contract fell through, and it had nothing to do with us or the house," you might say. And yes, as a listing agent, I would do everything in my power to communicate the situation to prospective buyers and their agents. But there will always remain a bit of doubt, skepticism, and unease on the part of prospective buyers. When it comes to getting your home sold for maximum value in the shortest amount of time, a buyer in hand truly is worth two in the bush. 

The Golden Rule

We were all taught from a young age to “treat others as you would like to be treated.” This shouldn’t change once you have a buyer who seems as though they would do anything to buy your home.