When an offer does come in, you’ll receive a written and signed contract from the selling broker, who will make a presentation of terms to your REALTOR. The presentation will include the date, name, and address of the buyer, as well as the sales price that the buyer has offered and the amount of earnest money they’ve offered. The offer will also include financing terms, proposed closing date and occupancy date, plus contingencies on which the offer is conditional. You will have three options at the offer presentation. You may accept the offer as written, make a counter offer that alters the proposed price, terms or contingencies. Either one of these options will result in sending the contract back to the buyer, either as is or with amendments. You may also choose to reject outright the proposal. However, an offer of any kind is an opportunity to sell the house, and you should think about a counter offer before making any outright rejection. It’s normal to hear a first offer and wonder if you can get more for the sale, especially if you’ve priced your home fairly and received offers early in the viewing period. Consult The Zuidema Team for professional advice on offers. What if we receive more than one offer?
Multiple offers will be presented to you in the order registered with the broker. Read each offer through and ask questions. You don’t need to take action on any one offer before you receive and review all active offers. If you choose to accept or amend any offer, also
ule on the other offers, denoting them as backup offers in the order you prefer them. Why is the price higher than the asking price on our offer?
Another possibility when receiving offers is that one of them will be for a price higher than you’ve asked. Some buyers choose to make their offer stand out above others buy bidding up the property. If this is the case, feel free to accept or amend the offer, but to remove any questions, be sure to include a separate statement that requires the buyers to acknowledge that they’ve offered more than the asking price, and possibly asking the reasons for the higher offer. Buyers may also choose to include their closing costs in their purchase price. My home has been on the market for 30 days and has not received many showings or an offer.
If your property doesn’t receive offers or doesn’t sell during the sales period, analyze the reasons. Perhaps you need to re-price the home or alter your conveyances. If so, re-list the home after adjusting your listing. If you determine the market is not conducive to a sale at this time, withdraw the listing from the market and re-list it when the selling atmosphere has improved. In cases where you must leave the home regardless of its sale, consider offering the home for rent, or keep it on the market while you rent it, so you can realize some income while you occupy another residence. More Information |
