Author: Ryan | September 5, 2017
An individual may submit an offer, but in the event the buyer has a Buyer Agent their agent will submit the offer. Offers are easily accessible on the user dashboard.
A Seller's Net Sheet can assist you with confirming if an offer will produce the money needed to fit your budget. You can also ask one of our experienced agents for their expertise based on the current market.
In addition to the overall offer price you will want to check for:
Concessions. Costs a seller can pay on the buyer's behalf such as origination fees, title work, etc. They can help a buyer pay less cash up front and are typically offset by a higher sale price than they would have had without the concessions. The buyer should have approval from their lender before including any concessions to confirm they are allowed within their mortgage type.
Contingencies. Conditions or events that need to occur between offer acceptance and closing. Common contingencies are inspections, financing, and closing the sale of another property.
Additional Items. The buyer may want the appliances included if they were not included with the listing, the lawn mower, or items that help maintain or furnish the home or property.
EMD - Earnest Money Deposit. A deposit made showing the buyer's good faith in a transaction. It also often allows the buyer additional time to confirm financing. The more money deposited the more money the buyer already has tied up in sale - making it look like a more serious offer.
Timeframe. The offer will come with an estimated closing date and possession date. you should make sure they work well for you or that your accepting price accomodates for any hardships or costs the timeframes incur.
Before you accept or counter an offer you should ask yourself how fair and reasonable the offer is. When countering, consider if your counter is more fair and reasonable.
In a multi-offer situation you will need to assess the advantages and disadvantages of each offer and choose the one that fits your situation best. Your Get Movin dashboard will make it easy to compare offers side-by-side and make an informed decision.
Get Movin buyers can also see the other offers made on your listing and adjust their offer appropriately so that you receive their highest and best offer.
Related Topics: selling money-matters mortgage investments