 When a potential buyer makes
an offer, the terms should
come in writing. You have
several options after you
receive an offer. Pay
attention to all of the
terms of the offer. You will
want to look at the price
they are offering to pay for
the property, the closing
date, the terms for any
repairs, and any other
qualifications they are
asking for, such as a time
limit to when the offer can
be accepted or rejected. In
the offer, the potential
buyer will lay out exactly
what they will be expected
to do if you accept their
offer.
Once you’ve read over the
offer thoroughly with your
listing agent, you can
either accept the offer
straight out, reject the
offer by letting the time
expire on the time limits to
their offer, or negotiate. It is
usually unwise to reject an
appropriate offer outright,
most seller's agents will
advise you to negotiate the
terms of the offer and try
to work with the buyer,
leaving open lines of
communication and
potentially getting your
needs and wants met.
When you accept an offer
outright, you are accepting
all of the terms of the
offer, and it is
very important to take all
considerations into account
before you sign the offer
terms. Absolutely do not
sign the terms if you are
unsure. Generally speaking
it is unwise to accept an
offer on the first bid,
because the buyer usually
begins their first bid offer
low to see how low you might
be willing to go for the
property. Certainly, their
first offer will probably
not be the best offer you can get for your
property. Unless the buyer
offers to pay the listing
price or higher, it is
usually wise to negotiate.
 When negotiating with a
potential buyer, the buyer
will more than likely also
have a buyer’s agent working
for them. When you negotiate
the terms of the offer, you
are essentially extending a
counteroffer to the party
wanting to buy the property.
You can counter any of the
terms, the price, and any
other extending terms that
the buyers asked for. Your
counteroffer must be in
writing.
After both you and the
buyer agree to the contact
terms, the negotiating is
considered over and all
documents are signed and
notarized. When you have
more than one lucrative
offer, you are in a much
better negotiating position,
because you have more than
one option to choose from. Consider all of
the terms and select which one best
suits your needs.
Call us at 1-800-220-8008
or 828-452-7778 or
email us
for more
information. Find out why so
many satisfied customers
recommend Mountain Home
Properties for all your real
estate needs. |
