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February 18, 2016

5 Top Tips for Sellers to Choose the Best Purchase Offer

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Category: Home Sellers, Real Estate Info


Your house is for sale and what you want more than anything is to get it sold quickly for top dollar.  If you made it appealing to buyers and priced it correctly to begin with you should receive offers pretty soon after it starts showing on the internet.

Once you receive a purchase offer, you can accept it, reject it, or propose a change in terms and/or conditions by making a counter-offer.  Keep in mind that all terms and conditions are negotiable.

  1.  Keep your emotions out of the process.  Yes, this is likely the home that you have enjoyed for a period of time and you will no doubt have mixed feelings about the move.  The prospective buyer doesn’t have any history with this house and is often less emotionally involved in the process at this stage.
  2. Think about what is most important to you about selling this property.  Is it getting the highest price, being able to move on your preferred schedule, or something else?  If price is the primary factor, you may need to compromise on closing date.  If the date for you to move is more important it may require a compromise in price or other terms.
  3. If your property receives multiple offers, your real estate consultant can (and should) prepare a method to compare the relative merits of those offers for you.  Ask for their best recommendation and reasoning as to which offer will most likely provide the optimal outcome.
  4. Review all the terms and conditions.  Yes price is important, but what else is at stake?  Is the buyer asking for closing cost help?  Do they want you to leave appliances or other personal property included with the purchase?
  5. Make sure the buyer is actually capable of completing the purchase.  The purchase offer should include a pre-approval from a reputable lender that your real estate consultant has already spoken with and proof of funds needed to close the transaction.  Because your property is no longer being marketed once you have accepted an offer, you want to be sure that offer has the best possible chance of concluding successfully in a closed transaction.

Remain flexible and use whatever information you can to negotiate the best terms of sale.  For example if the buyer needs to move quickly, you may be able to hold firm on price provided you can compromise on an accelerated closing.

Above all, make sure that you are comfortable with and understand how the process progresses once you have an accepted offer.

This is one in a series of articles designed to help the consumer navigate the world of a real estate transaction.  Real estate is local, and working with someone who knows the area and the specific issues that may affect your transaction is important.

Sally Sig extra smallPlease share your thoughts or questions by commenting below, emailing me at Blog@93561Home.com or phone / text at 661.375.REAL (7325)

 

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