Many homeowners ask the question – Should I have an offer date when selling my home? An offer date is a specific date that you will entertain offers for your home. It typically is about one week after your home is put on the market. This gives many buyers an opportunity to view your home and decide whether they want to bid.
Often there are multiple bids on a home with an offer date. This is often referred to as a bidding war. The price gets bid up as potential buyers bid against each other.
A bidding war may result in a quick sale of your home at a high price.
However, it is not always rosy. Some buyers will not buy your home because they don not want to participate in a bidding war. In fact you may not get any offers on the offer date, which may lead potential buyers to think that there is something, wrong with your home.
Selling your home is complex and you should consult a reputable realtor on best strategies in selling your home.