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Clean Offers....Not What they Used to Be...Is that a Good Thing ?
Today market requires offer which yesterday would not even be thought of. We are seeing larger deposits and stronger financing terms. Coming back is 20% down or more to convince the seller they are strong and will complete the sale.
If you have been practicing real estate for a while...likely you have seen the evolution of the Clean Offer. In the "olden days"....which in any market anywhere pre-dates Thinventory....times vary with the market. In the olden days....a "Clean Offer"was...an offer with inspection and in southeastern Wisconsin, a radon test... and financing contingencies which included an appraisal. That was "clean" and "normal" ,,,,,it is what Buyers wrote...it is what Sellers accepted...it is what agents on both sides accepted as "usual and customary."
In the interest of being competitive...less and less becomes "usual". The radon tests are sometimes one of the first things to be deleted.Buyers may choose to test for radon...but will not ask the Sellers to have it mitigated in a muliple offer situation for fear of having their offer eliminated due to asking the Sellers to bear the cost of mitigation.
Experienced agents know that the two largest reasons an offer can fall apart are ... more
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