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Accepting an Offer
We are Agents and Brokers with over 30 years of experienced in real estate: with experience and knowledge on all aspects of the home buying and home selling process. If you have any questions feel free to email or call us.
The First Offer: Often the first offer to come in is the best one. When a house is fresh on the market, there is usually a rush of activity and the buyers who see it during the first few days are those most likely to be the most interested. If you are fortunate enough to get an offer right away, you will probably be better off in the long run if you accept it or try to work out a compromise.
"Low Ball" Offers: In every real estate market, there are home buyers who make offers that are far below the current market value. How should you react if your real estate agent brings you one of these "low balls"?
Accepting An Offer: Your Realtor has just brought you an offer on your home, and you want to think about it. You would like your agent to contact the other people who have shown an interest in your home.
Even if there isn't a deadline, you should respond to a buyer's offer quickly. because the buyers are free to withdraw from the transaction..
Evaluating Multiple Bids: When you are faced with multiple offers on your home, how do you choose the right one? Your Realtor can help you compare and contrast the terms of each proposal.
First, there is the price. Consider the closing costs you may be asked to pay, and be sure that you understand any other terms that might reduce your net profit.
Negotiating Factors: It is easy to be offended by someone who is making an offer on your property. Even if the buyers love your house, they are trying to negotiate the best possible price and terms.
One of a Realtor's most important jobs is to act as the intermediary during such negotiations. With our knowledge of financing, negotiation procedures, we come up with creative solutions to the challenges that may arise.
Negotiations: The work ahead requires skill in order to maintain a strong position.
Sellers can lose their advantage if they do not counter an offer that a buyer has made.
The best way to handle a low offer is to counter it with definite terms that are favorable to the seller. A counter offer has two advantages: 1) it keeps the buyer interested, and 2) it moves the negotiation forward and gives the buyer the opportunity to submit another offer that the seller is more likely to prefer.
Offers and Counter Offers: What happens after the offer is submitted?
The seller's Realtor will present the offer to the sellers, along with the buyer's qualifications. If the sellers accept the offer, then you have a purchase agreement. If the sellers counter the offer, the next action would be initiated by the buyers. If you want to buy a particular house.
Purchase Negotiations: A good agent will look beyond the price when evaluating an offer. If the buyers' financial qualifications are shaky or the offer has subtle terms or conditions, your Realtor should be there to minimize any risk to you and to address these items in your counter-offer. Your agent's job is not to make a decision for you, but to be sure that you understand fully what the offer includes and what is expected of you.
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