Right Offer - Steve and Crystal, Santa Clarita Real Estate, HomeSmart Santa Clarita, Valencia Realtor, Sell My Home SCV

5 Tips for Picking the Right Offer For Your Home Sale

Having a plan when reviewing offers is an important part of selling your home. You have cleaned and organized your home, picked a great team, like Steve and Crystal with HomeSmart, to properly market and sell it, and have priced it right! Before you know it an offer or offers are coming through the door. Whats next? How do you know that you are picking the best home buyer? These steps will help you get through it:

 

1. All offers are completely negotiable! When you receive an offer you have three choices. You can accept it, as is. You can reject it. Or you can counter the terms of the offer.

2. Decide what’s most important to you. If getting your price is most important, make sure that you are open to compromising on other terms such as the close of escrow date. If the most important thing is that you close by a certain date, you may want to review the buyers qualifications to buy the home and consider how much they are putting down, is it a cash offer, what are their FICO scores, do they have to sell another home to buy this one? These are all things that can affect the ability to close escrow on time.

3. Don’t take the offers personally…this is a business transaction. We understand that you feel like your home is the best home out there and that you want to get the most money possible, but try to think like a buyer. They also love your home and are try to negotiate the best price possible. Don’t be offended if a low offer comes in…leave it to Steve and Crystal to negotiate.

4. Review Every Term! Its important to review all of the terms of the agreement. Price is important…but so are other things.

  • How much is the Earnest Money Deposit that they are using towards the down payment? The lower the EMD, the less painful it will be for the buyer if they choose to forfeit their deposit and walk away.
  • Are the buyers fully pre-approved? Steve and Crystal make sure that they not only review the pre-approval letter but they also call the lender to make sure that the buyers have sufficient money to cover the down payment and closing costs, qualifying credit worthiness, and a lender who knows what they are doing.
  • Did the buyers ask for specific inspections or reports? Are you being asked to pay for something that is normally the buyers responsibility? Is the Home Warranty the buyer requested reasonable? Are they asking you to complete all county and state mandated repairs or section one termite? These things add up!
  • Is the buyer asking for personal property to be included? Are the asking for your refrigerator, washer, dryer, furniture, accessories, or equipment? Were there fixtures or window treatments that you planned on taking with you?
  • Time frames. Is the offer contingent upon the buyer obtaining financing or an appraisal? How long are you giving them to get their loan in place? How long do they have to do their inspections? If they aren’t performing, how long until you can cancel the contract? When do you close escrow? How long do you have to give them disclosures? Time is of the essence in an escrow!

5. Be creative and compromise. If the offer isn’t acceptable to you, go through it and determine what’s most important to you and most important to the buyer and try to meet half way. The key to negotiating a successful sale is to remain flexible. Don’t sweat the small stuff.

If you are considering selling your home, please call Steve and Crystal at 661-255-5257