For Sale By Owner

[Account Closed]

I am not a realtor but I have sold my own properties in the past. I am selling a property in southern California and right now it is a sellers market. SFR's are selling above asking price. How can I write up an offer that might be made but will allow me to keep it on the market for a potential bidding war? What is the language that would be used? Would it be better to list it below market value to entice bidding.

[Bill Wallace]

I'm not an agent in CA so you may want to wait for their advice but personally I would price it "at" the market price and not below. If it's a seller's market and houses are moving quickly that should get you offers anyway.

As far as language goes the one thing I'd put in the listing is that "offers won't be reviewed until x days on market". Basically you want to give enough people the chance to see the house and get an offer in instead of just accepting the first one. If there are going to be multiple offers this gives it enough time to see if people want to write on it. I'd probably use 3-4 days as the "x".