Accepting an Offer
A buyer has decided your property is the home of their dreams and makes you an offer. When your Berkshire Hathaway HomeServices Hometown, REALTORS® Sales Professional conveys the offer to you, you’ll know whether the price the buyer has suggested is fair. It may be less than your asking price. Yet you don’t have to reply immediately if you are not certain the price and terms are acceptable.
You will need to consider the current real estate market: Are houses in your neighborhood selling quickly, slowly, or not at all? Don’t assume that one offer will lead quickly to others. One predictable factor in the real estate market is that it is totally unpredictable.
The key to negotiating an offer is finding a compromise. If you and your potential buyer are far apart, you could offer a few concessions such as appliances or a security system, or assist with the buyer’s closing costs.
A Purchase Agreement will include: the purchase price, the amount of downpayment, the date the closing will take place, among other items. When completing the purchase agreement, provide as much details as you can about what is being sold and what is not. The more fully you spell out the details of the sale, the less room there is for problems later.
The buyers might also ask you to make your sale contingent on the sale of their current home.
Delays happen frequently, so expect to do a little waiting before your agreement is finalized.