Do you keep getting offers to buy your New Jersey house? In a hot real estate market, buyers are actively seeking homes, whether to resell or for themselves. It helps to understand why you keep getting these unsolicited offers and how to respond, so you can make the best possible decisions for your future.
In this post, our experts at Your Home Sold Guaranteed Realty - Nancy Kowalik Group will discuss everything you need to know about unsolicited offers, including what to consider before responding to one and how to respond.
- You can get unsolicited offers from buyers in both hot and cold markets, but it’s usually more common in hot ones.
- Many realtors research public records to determine which homeowners in their area may be ready to sell.
- Before responding to any unsolicited offers, you should consult with a real estate professional to make sure the offer meets your home sale goals.
Why Do You Keep Getting Offers to Buy Your New Jersey House?
Local Housing Market Conditions
You can get unsolicited offers to buy your house in both hot and cold markets, but it’s usually more common in hot ones. If your neighborhood is experiencing high levels of real estate activity, you can expect to get some interest in your home– especially if it’s in a prime neighborhood. Home buyers will take advantage of rising home values to persuade you to sell.
Unsolicited offers are also common in seller’s markets, where supply is low and demand is high. In these market conditions, buyers and their agents will make more unsolicited offers to try and persuade you to sell, usually offering top dollar.
Your Home’s Location
You might get unsolicited offers if your home is in a desirable location, regardless of the current market conditions. For example, if your home is in a highly-rated school district or next to grocery stores, parks, pools, or other amenities. You might also get unsolicited offers if your home is in an exclusive location, such as a waterfront or gated community.
Realtors Researching Public Records
Many realtors research public records to determine which homeowners in their area may be ready to sell. Then, they might contact those homeowners either on behalf of a buyer client, or in the hopes of representing the homeowner as their listing agent.
Realtors may target you if:
- Your property is paid off: Owners with no mortgage are seen as more likely to sell.
- You’ve lived there long term: Long-term owners have a higher turnover potential, which is attractive for flippers
- Public records show a life event: Inheritance, divorce, or job loss may motivate selling
Realtors can find this information through all kinds of public records, like mortgage data and tax assessments.
Interest from Investors
Investors also turn to public records and mailing lists to identify homeowners who may be interested in selling. They blanket neighborhoods with the same offer in the hope of finding houses to flip. They’re casting a wide net to see who bites– for this reason, the offers you receive are likely generic solicitations rather than specifically tailored to your home.
Another source of unsolicited offers comes from scammers. In this case, the prospective buyer often poses as an investor looking to flip the property. However, their offer is usually far below what the home is actually worth, even in its current condition.
How Can I Respond to Unsolicited Offers?
When an unsolicited offer lands in your mailbox, you have a few options:
- Ignore it: If you’re not interested in selling, feel free to disregard the offer.
- Decline politely: You can contact whoever made the offer and say you have no plans to sell and request to be taken off their mailing list.
- Express potential interest: If you’re considering selling, reach out and indicate you may list your home in the near future. Ask for more details about their buying motivations and timeline.
- Consult an agent: If you really are considering selling, whether now or in the future, it’s essential to reach out to a realtor. Show them the unsolicited offer and ask them for guidance on how to respond.
What to Consider Before Responding to Offers
With a bit of research, you can determine if an offer aligns with your home sale goals or not. That’s why before responding to any unsolicited offers, you should consult with a real estate professional and ask a few questions:
- Are they offering a fair price for your market?
- Is their timeline aligned with yours?
- Do you understand all the terms and fees involved? Be sure to get explanations in writing.
- Is it contingent on any inspections or financing?
- Are there any tax implications from selling?
Sell Your Home for Top Dollar – Guaranteed – Call Nancy Kowalik
When it’s time to sell your house in South Jersey, only one realtor will do: Nancy Kowalik, the top realtor in South Jersey. With the Nancy Kowalik Group, you don’t have to choose between results and the customer service you deserve.
We have years of experience helping homeowners just like you sell their homes fast and for top dollar. In fact, we sell homes 70% faster and for 10.29% more compared to other South Jersey realtors. In addition, we offer a unique Guaranteed Sale Program that ensures your home sells fast and for top dollar, no matter what.