Understanding Offers & How to Choose the Best One
Once your home attracts offers,
reviewing and negotiating terms is crucial for a successful sale.
Key Offer Factors to Consider
- Purchase Price: The highest offer isn’t always the best if it includes risky contingencies.
- Financing Type: Cash offers can often close faster, while financed buyers may need additional approval time.
- Contingencies: Inspections, appraisals, and loan approvals can affect closing timelines.
- Closing Timeline: Consider how soon you need to move and if the buyer’s timeline aligns.
Counteroffers & Negotiation Strategies
- Your agent will guide you through counteroffers to maximize your sale price.
- Sellers can negotiate contingencies, repairs, and closing terms.
- In competitive markets, multiple-offer situations can lead to bidding wars, driving up the final price.
Navigating the Escrow Process
Once an offer is accepted, the
escrow process begins. During this time:
- The buyer deposits earnest money to secure the contract.
- A home inspection is conducted, and negotiations may follow.
- The lender orders a home appraisal to confirm market value.
- The title search and escrow process ensure legal ownership transfer.
Successfully navigating this phase ensures a
smooth and timely closing.
