Selling a Home

 




Evaluating Offers

There will be offers . . . possibly on an ongoing basis. Enforceable offers must be in writing and will usually consist of a standard offer to purchase, an initial deposit check, acknowledgment of receipt of the Residential Property Condition Report you completed and any other necessary disclosures regarding the presence of mold or lead paint or other hazards.

It is standard practice . . . to require that any potential buyer provide a pre-qualification letter from a lender or mortgage broker indicating that the buyer meets basic requirements for the necessary financing. I will present all offers to you regardless of my opinion of their merits - though you can be fairly certain of hearing my opinion.

You have three choices to make with any offer . . .

Clearly you can accept it if you wish.

You can reject it, nicely if possible since any offer indicates interest and you don't want to alienate a potential buyer .

Or, if you feel that an offer is close to what you want, you can counteroffer with a figure for which you'd be willing to sell. If the buyer is willing to come up to that price, you may have a deal.

Price is not the only factor to consider . . . The financial strength of the buyer will be shown by the size of the deposit being pledged and the size of the down payment the buyer is prepared to make. That information is disclosed in the offer. A highly qualified buyer who can secure financing quickly and close promptly may be of more value to to you than someone who is willing to pay a bit more but looks financially less solid.

As is the case with any of the documents we deal with, you may wish to have your attorney review any offers.