How do you know if a cash offer is fair?

Here’s the scenario: A potential buyer makes you a cash offer on your Metro Detroit home. How does the dollar amount sound to you? Is it too low, too good to be true, or just right? 

Whatever the case, when professional homebuyers make offers, they don’t always disclose why their offer is what it is – leaving it up to you to unravel the mystery. 

At Mitten Made Properties, we’ve been making Southeast Michigan homeowners truly fair cash offers for years now, and we’re happy to help you make sense of the numbers.

There are many factors that go into preparing and analyzing a cash offer, and if you’re not a real estate expert, it’s difficult to know whether it’s worth taking. So, from Mitten Made Properties to you, here’s some advice for how you can protect yourself and make sure that you’re profiting as much as possible on the sale of your Metro Detroit home.

Ask the Buyer to Explain the Math 

This is the easiest way to determine if the buyer’s offer is good or not. Ask them to explain their comps – and show these figures to you on paper. If they’re trustworthy, they won’t have a problem with doing this. But it’s definitely a red flag if they avoid the question. 

Negotiate 

Professional buyers are used to negotiating with home sellers, so don’t be afraid to roll up your sleeves and discuss the price with them. Remember, until you sign a contract, the power is in your hands.  

Understand Their Process 

Typically, the benefits of selling to a professional homebuyer are sealing the deal quickly and with fewer expenses than usual. But remember that the buyer wants to make money on their end as well, so keep that in mind when they make their offer; it’s definitely going to be a touch below market value. Just remember that you’ll save money (not to mention time and energy) by being able to skip repairs, cleaning, painting, agent commissions, and more. It’s a trade-off. 

If you want to learn more about this process, or if you’re wondering if selling your Metro Detroit home quickly for cash is right for you, give Mitten Made Properties a call at (248) 883-3340. We’d love to chat with you!

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