Offers - Reviewing, Countering, Accepting
Receiving an offer on your home is both exciting and nerve-wracking. As your agent, I review offers as they come in and summarize the key terms & conditions of the offer. I then meet with you to review them. Here are some of the things to consider when reviewing an offer:
Offer price - how does it compare to the list price? to the price of recently sold comparable homes?
Buyer qualification - this may be even more important than the offer price. Is the buyer pre-qualified by a lender, and have they provided proof of funds to cover the down payment and closing costs?
Time frames - what are the requested time frames for inspection periods, financing, and closing? If you need a rent-back, has that been provided for in the offer?
So what do you do if you get an offer that is not acceptable to you? If it's just ridiculously low, you can just reject the offer. However, if it's even close, it might be wise to counter. You can counter the price, or any of the terms. Maybe the final price isn't as important to you as having a 60 free rent-back so you can get all of your stuff packed and moved. As your agent, I will work with you to understand what is important to you, and make recommendations on a counter offer.
The thing to keep in mind - it's always in everyone's best interest to work together to come to an agreement acceptable to both parties. You want to sell your home so you can start the next chapter in your life, and the buyer wants to buy your house.