Receiving an Offer
Not all offers are created equal. Fortunately, I am here as your real estate agent to help you review offers and discuss all the details. Here are a few things you should do:
Get to know the terms: The main factors on most offers will include the price the buyer wants to pay, details about the offer, financing, and any conditions, inclusions or exclusions the buyer wants to make contingent on the closing. These offers can be “firm” which means that they’re willing to buy the home exactly as it is. Or, the offer could be “conditional” on things such as the buyer obtaining approval for financing, insurance, a satisfactory home inspection, water and septic tests, and sometimes the sale of the buyers' current home.
Review every detail: It’s not just about price. The buyers may have asked for other things to be included with the house, such as appliances, draperies or chandeliers. They may have even requested some renovations such as re-shingling your roof, replacement of an aging oil tank or repairs your driveway. Some buyers may ask for longer or shorter closing periods or make their purchase contingent upon something else, like selling their current home. All these factors influence what the offer truly looks like. I will help you decide whether to accept, reject or make a counter offer.
If you accept, congratulations. If not, then it’s time to move onto the next step …
Next Up: Negotiating and Counter Offers