Should I accept an offer or relist?

[Mark Svendsen]

The trustee did a premature appraisal before staging and before new paint, new carpets, new furnature, and these are the results.

House is at Belmont, CA  180deg. View of SF Bay

2.40M (1st appraisal) 2.45M LIST (+400K) = 2.855M OFFER

2.65M (2nd appraisal) 2.70M LIST (+400K) = 3.15M OFFER ??

Seven offers, the second top offer of 2.855M was accepted by trustee (I have yet to accept) or relist for possibly higer (3.15M?) The house has been on the market two weeks and is sold with a earnest depost of 40%. The first appraisal was used to set the list price.

Thank you for your educated opinion.

[Marcus Auerbach]

So you got about $400,000 for paint and staging? I would say that was worth it.

I don't follow your logic that the other appraisal should compel a buyer to go over $3M.

If you have seven offers, it is not very likely that you will see a higher offer at this point. Time on market is generally not on your side as a seller, buyers know that and offers will generally start to come in lower. If you were a buyer, what would you do?

My two cents based on 120 transactions per year: I think you did pretty well.

[Mark Svendsen]

thank you for your time. Good answer.