Choosing the best offer for you.
There are some things to look for when you’re reviewing an offer besides the obvious - the price. Your REALTOR® can help you review any offers you get on your house. They will show you what makes it good or bad. Here are some things to think about:
1. The closing date. Does it suit, or at least come close, to what you need? After price, this is the part that tends to need the most negotiation. It can be tricky to get the dates to line up and please the buyer and the seller. But, that's why you're working with a REALTOR® - to help sort it out!
2. What about an inspection condition? After living in your house you’re probably aware of any issues but surprises CAN turn up. That means there is a risk the buyers will find something that makes them want to walk away from buying your house. But, if you are refusing to let someone inspect your home, it can give the appearance that you know something is wrong that you are trying to hide.
3. If you receive an offer with a financing condition, your agent will do some digging into it. Is the buyer pre-approved? Are their finances stable? Are they looking for traditional funding or do they need to be more creative? If it’s a cash offer, proof of funds can be requested by your agent. The purpose of looking into the offer is to try to estimate the likelihood the buyer will qualify for financing to buy your house.
4. Inclusions and exclusions - Check to be sure that the buyers are going along with what is recorded in your listing. Or could they be asking for your great-grandmother’s cedar chest that you’d never part with? Or the brand new washer & dryer set you want to bring with you. In general, the goal is to get an offer that matches as closely to what you ask for as possible.
Offers with the fewest conditions usually present the least risk and could be worth shaving a few bucks off the price! Remember that your REALTOR® is working for you and can help you make sense of this and pick the offer that is best for you.