Sometimes you just don’t know what you’ll do until you actually find yourself in a certain situation. And residential real estate has a way of putting you in all sorts of different situations. Situations you would never have dreamt possible. It’s easy to say “Oh, I would never have done that!”, but how do you know for sure? There are just too many situations to talk about in one blog post, so I’ll be posting different fact situations from time to time to give you the opportunity to put your decision making abilities and integrity to the test. So without further ado, what would YOU do?

You Receive Five Offers For Your Home

All good, right? But wait. Your agent, with your instructions, has told all buyers to submit their best offers right off the bat and that you’ll take the best offer unless more than one of the offers is very close in price. If that happens, the buyers with the close offers will receive a chance to increase their prices. Your home is listed at $899,00. The best offer is for $1,050,000. The second best offer is for $990,000 and the rest are below $925,000. The agent for the buyer with the second best offer says that her client will increase her price if given the opportunity to do so, but she doesn’t know by how much. If you give her a chance to increase her price, you’ll also have to be fair to the buyer with the highest price and give him a chance to increase his price, too. What would you do? Would you accept the best offer of $1,050,000 right off the bat because it’s clearly the best offer and that’s what you said you’d do or would you give both buyers a chance to increase their prices in case the buyer with the second best offer increases her price above $1,050,000?