The Price Is Not Always Right
“The higher the price, the better the offer” is not always the case. Purchase price is the biggest factor in accepting an offer, but there are a number of terms and conditions that may influence the final outcome of the home price. For instance, if the buyer is using financing, the lender will likely order an appraisal. A slightly lower offer not contingent on appraisal may be a better option than an appraisal-contingent higher offer. Closing date, concessions, inspections, title expenses, and several other factors may also make a lower priced offer the better option for your home sale. We work hard to ensure you understand the pros and cons of the offers you receive so that you can make the best decision for your family.
Negotiating The Right Way
We have an ethical responsibility to put our clients’ interests ahead of our own. This is especially true during negotiations. As your agents, we will provide a thorough and objective assessment of each offer you receive to help you make the right choice. Experience matters in negotiations, and we have ample experience in our backgrounds negotiating both real estate transactions and legal matters.
The Initial Agreement and Deposit
Once we have negotiated on your behalf and reached an agreement, the closing process begins. Typically, several weeks pass between the time a contract is reached and the time the sale is completed. During this time, the closing agency is preparing documents specific to your property and the buyer’s loan, the lender is completing work to approve and underwrite the loan, the buyer is doing inspections, and the appraiser is determining the value of the home. This process can take as little as a week or two for cash deals or as long as 45 days or more for sales involving some government-backed loans. The timeline for these activities will be addressed in the contract, and both parties are required to work in good faith to comply with these deadlines.