Accepting An Offer
Accepting The Highest Price is Not Necessarily The Best Choice. "The higher the price, the better the offer" is a popular misconception. Price is not always the determining factor when accepting an offer for several very important reasons: the initial offer is usually not final, and there are a number of terms and conditions that my influence the final outcome of an offered price. For example, there might be contingencies in an higher-priced offer which render it less desirable. Rest assured, we will work with you such that you thoroughly evaluate every proposal without compromising your marketing position.
Negotiating The Right Way. We take ethical responsibility of fairly negotiating contractual terms very serviously. It is our job to arrive at a win-win agreement whch is beneficial to all parties involved. You may even be presented with multiple offers and be faced with deciding which one is the most desirable (offering the terms and price most suitable to your situation). As your agent, we will guarantee a thorough and objective assessment of each offer to help guide you in making the right decision.
The Initial Contract and Deposit. An effective contract is a legal arrangement between a potential purchaser and the property's seller. Laws vary from state to state, but in order to be a legally, binding agreement, the agreement may require consideration. This consideration from the buyer (initial consideration) is commonly referred to as earnest money. The earnest money will be held in the closing agent's escrow account pending fulfillment of all the conditions and contingencies in the contract.
Some important tips to keep in mind to streamline the process even further:
- Keep written records of everything. To be legally binding, all counter-offers and addendums must be in writting and signed by both parties. We will assist you by drafting all of the paperwork during your transaction and make sure you have copies of everything. Keep copies of checks and payments for any required repairs as these will need to be provided to the buyers prior to or on the day of closing.
- Stick to the schedule. Once you have selected an offer to work with and both you and the buyers have come to agreement on the contract, all the dates and deadlines are established in the contract detailing what disclosures and information you, as the seller must provide and what inspections, surveys, acquisition of insurance, appraisals, etc. must be performed by the buyer and by when. Meeting the deadlines set forth in the contract ensures that each party involved will not be in breach of the contract and that the transaction will proceed smoothly through closing. We will be in consistent contact with you to ensure you are always informed and prepared for the next step.