Day: February 19, 2018

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Accepting the Best Offer

Accept And Refuse Keys Show Acceptance Or Denial

Accepting the Best Offer

There is no definition of “the best offer;” it depends on your needs. For some, it’s all about the best price. For others, it’s also about selling quickly. Some sellers agonize, wondering whether waiting another few days will gain them a few more dollars. While that’s always a possibility, you may not want to gamble on the chance that the current buyer will lose interest. There is always a “what if” scenario, but keep in mind that “what if” can have a downside.

Once you’ve found an offer that meets all of your qualifications, including financing details, and you have agreement from the buyer, you will begin the process of preparing for closing. This will include the buyers getting an inspection, a survey, an appraisal, and arranging for two walk-throughs with the buyer.

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The Elements of an Offer

The Elements of an Offer

Your Weichert Sales Associate will receive offers on your behalf and present them to you. They should contain the same basic information for easy comparison. They will all include the offer price, any earnest money deposit and the amount of down payment. An offer will also include a closing date, any details of escrow, details of items both included and not included in the sale and contingencies.

Any counteroffer can include modifications to this original agreement. Most often counteroffers include a change in purchase price, contingencies or closing date. Sometimes this can happen quickly with a few phone calls and sometimes it takes several days.

The final purchase agreement will cover all of these points and be signed by both parties. In states without an “attorney review” period, it becomes a legally binding contract as soon as it’s signed. Both parties have to adhere to the terms unless one of the contingencies is not met.