It's a great day for you as a home seller when you receive an offer on your home, but what should you do next? On today's show, Dave and Robert talk about what you should consider before accepting or rejecting an offer. It's not all about what price they offer! See the short list below and listen to the show for all the details, plus input from guest James Pulsipher with Fidelity Mortgage.
When considering an offer, the offer price isn't the only factor to consider! You should also consider:
- The amount of earnest money they will deposit. This is a good indication of how serious they are about their offer. A higher amount of earnest money, makes an offer stronger.
- The total number of contingencies. Contracts that have fewer contingencies are more likely to close in a timely fashion.
- The amount of the buyer's down payment. A higher down payment most likely means the buyer has the financial wherewithal to make it to the closing table if anything comes up along the way.
- The closing date the buyer is requesting. The buyer might need to close sooner than you are ready to move. On the flip side, the buyer might not be able to close soon enough for your circumstances. Keep this in mind!