A Guide to Evaluating Your Home Offers
Are you looking to sell your house? Have you received an offer? If so, congratulations! What are your next steps? Especially when you have received multiple offers for your home, it can be difficult to navigate these offers. There may be a temptation to jump at the first or highest offer you receive, but that should not be your only factor to consider.
Before you begin, make sure you’re prepared:
It’s important to prepare yourself for what comes next before you begin receiving offers on your home. By doing so, you’ll have the ability to make an informed decision when your first offer rolls around, and you will be able to decide on whether to reject, accept, or start negotiating.
When you receive an offer to purchase your home, understanding what you can expect is the first step in preparing yourself. The best way to do this is to familiarize yourself with the Purchase Contract and its various sections in order to determine how they relate to your purchase. Loretta Maimone is here to help you out!
Purchase contracts, known sometimes as Purchase Agreements, are contracts between parties outlining an agreement to purchase a home. Besides the sales price, it includes a deposit for earnest money, a date for closing as well as a period of time for exercising the option.
In order to make the right choice, you will need to take some time to figure out what is most important to you in the sale and familiarize yourself with the key terms and elements of a Purchase Contract. If you were to sell your home to a buyer, would you like a buyer who could close on the date you specified or would you rather maximize your proceeds? Whatever the case may be, if you know what you want out of the sale and set a priority of what’s most important in terms of accepting or rejecting an offer, you’re in a better position to weigh what the seller needs as well.