In most cases, you will wait anywhere from 30 to 60 days for an offer, depending on the market and location of
your home. This can be an emotional process, especially if offers come in far below your list price, or your
home has been on the market for several months. This is why obtaining an experienced agent is essential, so
you know what to anticipate and can attack the market accordingly.
Never rush. Take the time needed to make an appropriate decision and never jump at initial offers. Consider
all offers carefully, and make sure that the terms are as favorable to you as they are to the buyer. Never
accept an offer on the phone. Contact your agent and meet in person. This rule will prevent you from
emotionally reacting.
Before you list your home, decide on the lowest acceptable offer. Keep this number to yourself; do not share
with your agent, as the number may change during the time your home is on the market.
Make sure that everything is in writing. This is for your protection and the buyer's. Documenting the process
helps avoid confusion and potential legal problems down the road. In most states, land transitions and their
details need to be in writing to be valid.
The majority of the time, you’ll want to counteroffer. Someone purchasing a home will almost always start out
on the low side, so take this into consideration. Using an agent during this process will be an advantage, as
they are use to this process... (Continued)