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Accepting an Offer

EVALUATE THE OFFERS

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It can be an exciting and potentially emotional time to receive offers. My job is to present all offers to you. Prior to presenting an offer, I will find out as much information about the offer and potential buyer as I can legally. This will include: prequalification/pre-approval of the buyers, terms of purchase, and any contingencies.

Other than typical items like the home’s address, legal description, etc., an offer will contain the following:

  • Price – The price the buyer is willing to pay based on the market. Type of financing and down payment.
  • Terms – These are the items that the buyer is requesting as part of the purchase. These could be all appliances and window treatments convey. The examples could go on and on, but are really home specific.
  • Contingencies – These are the buyer’s conditions for terminating the deal. These could be financing, certain home inspection results, and time frame considerations.

Depending upon the housing market at the individual time of listing, you may have multiple offers to consider. Don’t worry about this step, I am here and will take the time to walk you through your offer(s).

Remember, once an offer is finalized and accepted by both parties it becomes a legally binding contract. Also, a counteroffer by either party makes the other party’s offer null and void.

NEGOTIATION

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Very few offers typically are accepted without modification. Therefore, the work you put into Step 1: Decide to Sell will come in handy when evaluating and negotiating the home sale terms. Additionally, contingencies can require modifications to contracts after they are in place if repair items are detected.
I have experience negotiating contracts and will work on your behalf to ensure that you receive the best value for your home.

Some items that may be negotiated upon include:

  • Sales price
  • Closing Date
  • Appliances, fixtures, or decor you had intended on taking with you – if requested
  • Repairs

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You need to realize that a buyer’s individual demands and offer price can vary and that you should not get emotional if the offer contains something you are not willing to concede.

An offer is just that, an offer. It is my job to help with the negotiation process and to understand your needs and wants. Additionally, I will try to convey the firm portions of their offer.

Ultimately, it is your decision to either accept or counteroffer any buyer offers that are presented. You need to be comfortable with the terms of sale.

As I stated in the previous step, once an offer is finalized and accepted by both parties it becomes a legally binding contract. Also, a counteroffer by either party makes the other party’s offer null and void. Note: this process can continue through the next step.

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