A Purchase Contract:
Who’s Offering What, When and How For Your Home?
When a seller receives an offer, it can be somewhat puzzling. A popular question is "How much are they offering?" Of course price is a MAJOR factor, when selling your home, but it's also important to look at other items as well. The following are some questions that should help in the decision process:
Buyer's Financial Situation
Does the buyer have the funds?
Are they asking for assistance with any closing fees? How much cash is available for the down payment?
Are the loan type and interest rate specifications realistic for current economic conditions?
You’re Costs
What are your net proceeds at closing? It’s usually best to add up any points, taxes, or any other items and deduct them from the contract price. This will provide you with your final profit monies.
You’re Calendar
Does the proposed COE, close of escrow date, provide you with enough time to find your next residence?
Contingencies
Is the buyer ready to buy your home or must the buyer first sell their own home?
If they have a home they must first sell, at what stage of the sale process are they in?
What items does the buyer want to keep from the purchase of your home?
Curtains, ceiling fans, washer and\or dryer, kitchen items, etc. All of these types of things could affect your final net proceeds.
At Cytra Realty, we have been through contract negotiations many, many times. We can help you negotiate a proper contract, so that in the end there’s a mutually agreeable and acceptable sale\purchase.
Comments(0)