From offer to Closing
Your Real Estate Partners Chattanooga agent will monitor these critical timelines and work closely with the buyer’s agent to make sure all contract contingencies are met.
Getting an Offer
When you receive an offer on your house, it is imperative that you review it carefully. The offer tells you the price the buyer is willing to pay and under what terms.
A good offer can be close to list price, sometimes higher, depending on the market at the time you list your home. However, be sure to discuss with your agent all terms of the offer that could affect the bottomline.
If the offer is less than you wanted, look at the contract as a whole. Perhaps the buyer is assuming some of the closing expenses. Consider possession and financing terms, as well.
As you review the offer, remember the time on the market to find another buyer is an additional expense.
Once you’ve read the offer, you have several choices:
A real estate counteroffer is generated by the seller after a buyer has submitted an offer to purchase and the terms are not agreeable to the seller. Typically, a counteroffer states that the seller has accepted the buyer’s offer subject to particular changes to the offer.
The following particulars can address such items as:
Managing Multiple Offers
When the number of buyers outweighs the existing housing inventory, it’s not uncommon for sellers to receive multiple offers. When multiple offers are received , the seller typically takes one of two actions:
As a seller, you will transfer the property to the buyer, fully pay off any mortgages, and receive your sales proceeds. If you are using the proceeds for a new home to be purchased on the same day, or shortly thereafter, it is particularly important that the closing of your current home runs smoothly.
Your Real Estate Partners Chattanooga agent will be there with you at the closing table to answer any questions or troubleshoot any unforseen issues that may arise.
the five step selling process