Likewise, how much debt do you still carry on your mortgage? Unless you are listing under “short sale” terms, you don’t want to accept an offer that’s less than what you owe, so pay close attention to how depreciation and closing costs affect your bottom line before making the decision to accept or counter an offer.
Another important factor to consider is whether or not the buyer is preapproved for financing. If so, you can expect a quicker closing with no surprises, and confidently begin the pursuit of purchasing your next home. Even a lower offer from a pre-approved buyer may be better than a higher offer from one whose financing falls at the last minute.
Remember, offers are about negotiation and compromise. Be flexible and reasonable when considering any and all offers that come your way.