You have worked hard to get your home ready for sale and to price it properly. You are receiving offers now. You'll need to review each carefully to determine its strengths and drawbacks and pick one to accept. Here's a plan for evaluating offers.
1. Understanding the process:
All offers are negotiable, as hopefully, your agent has told you. When you receive an offer, you can accept it, reject it, or rrespond by asking that terms be modified, which is called making a counteroffer.
2. Set Baselines:
What does this mean? You will want to decide in advance what terms are most important to you. For example, if price is what is important to you, you may need to be flexible on something else, let's say your closing date.
3. Create an offer review process:
If you think you will receive multiple offers, work with me to establish a time frame during which buyers must submit offers. That gives me, your agent time to market your home to as many potential buyers as possible, and you time to review all the offers you receive.
4. Don't take offers personally:
This is so important. This is big! Selling your home can be emotional. After all, you raised your children in this home. But it is simply a business transaction. Treat it this way. If your receive feedback and it is negative, such as complaining that the kitchen is horribly outdated, don't be offended. That comment may just be a negotiating tactic of the buyer.
I want you to carefully evaluate all the terms of each offer. Price is important, but so are other terms. Suppose the buyer is asking for property or fixtures that you did not include in the sale of the home? What will you do? Is the amount of the earnest money the buyer proposes sufficient? Did the buyer attach a prequalification or a pre-approval letter with their offer? Do you want this? Are the buyers asking you for closing help? Are you willing? Can you afford that? Will their requested closing date be acceptable to you?
With each of these factors, ask yourself: Is this a deal breaker or can you compromise to achieve your ultimate goal of closing the sale?
6. Be creative:
Be flexible. If you have an unacceptable offer, perhaps you can have your agent ask questions regarding the buyers needs, or what's important to them. You may learn tha the buyer needs to move quickly. So you the seller may say that you are standing firm on the price but are willing to negotiate closing date to get the hosue sold. You just saved the deal.
I hope this helps you throught the home selling process. Contact me if you have any further questions regarding selling your home.
My name is Lisa Longest and I work for Exit Gold Realty. I specialize in Stevensville Md and surrounding cities here on Kent Island. My goal is to work with people to help them build the lifestyle they want. I help them make decisions that will change their lives for the better. So feel free to contact me to get more information on homes for sale in the Stevensville or surrounding cities, or help you sell your existing home, at 443-786-4200
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