Finally, the moment is here: an interested buyer putting pen to paper. This is where emotion can grip you as a seller, when you hear the terms. “They offered WHAT?!” Many buyers want to feel that they won, or landed a deal. The offer phase is a negotiation, that can bounce back and forth a number of times. Price is the primary component, followed by form of payment and closing terms. As a seller, a cash offer that is clean but a little low might be your winner over a finance offer with more contingencies and a delayed close of escrow. The decision is yours. We are here to help dissect and explain the contract and purchase terms.
One thing we insist on is a buyer’s loan cross qualification. In a cash situation, we ask for proof of funds. We want to make sure the person submitting an offer can truly afford to purchase your home. Our experience has found anyone scoffing at providing this information typically can’t perform. Taking your home to Pending, off the market does not make sense when we can ask for this crucial data with an offer. We are here to protect your interests as mush as possible.
Remember, you will be aiming high while buyers will be aiming low. Finding a mutually agreed upon middle ground is how the negotiating process is supposed to work. Unreasonable offers may come forward, and will be dealt with on a case by case basis. This is where being priced appropriately comes to your advantage.
An offer is fully binding once escrow has received the buyers earnest money, and signed off to that effect.
We at 1850 Realty are happy to share information about the home selling process. Transactions can vary individually, and we are here to help you with your real estate needs. To discuss in more detail, don’t hesitate to contact us:
Next article in this series: Contingency Period