The vast majority of offers for real
estate come in below the listing price. Realizing this, you must
price your property so that you don’t turn away possible buyers, but
at the same time, don’t wind up selling for lower than market value.
Once you receive an offer, you must be prepared for some negotiating,
or meeting in the middle. By the time you get to this phase, you
should have had a home inspection performed so that there is no doubt
about the condition of the property. If any problems exist, an
appraiser can help you to determine exactly how they affect the market
value of your property.
The objective of most buyers is to purchase your property for the
lowest price that you will accept, and that they are willing to pay.
So as not to lose money, you must know exactly what your property is
worth, and stand your ground. If you decide that an offer is
insufficient, you can either make a counter offer or reject the offer
outright. But be realistic in your expectations. Remember that
negotiating is part of any business deal. Never take anything
personally and do not scare off any potential offers by being rash.
Consider every serious offer on its merits.
When looking at an offer, watch for any special clauses that can work
in the buyer's favor. Remember, an offer is a sales contract and is
binding if accepted. Never sign an offer without fully reading it and
making sure that you understand what is being offered. If you sign an
offer that you fail to read, you could be bound by terms that are
extremely unfavorable to you. Since offers can be complicated, you
should consider using a real estate lawyer to review any offers with
you and make sure that your interests are protected.
Prior to accepting an offer, make sure the buyer has been pre-approved
for financing. If they have not been pre-approved, have them call our
Customer Service Dept. toll free line 877-LOAN-976 ext.4542 or apply
online. If they are not willing to contact our Loan
Specialists, ask them for the name and telephone of their loan officer.
If they don’t have one and don’t want to talk to ours, they may be
wasting your time.
