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| Offers |
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| Creative Offers | Evaluating Multiple Bids | So! You Got a Low Offer |
| The First Offer | Try Negotiating | What Contingencies to Include |
| What's a Clean Offer |
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Creative Offers  |
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| In an ideal "sellers world", buyers for your home would be numerous and would qualify for as much financing as they needed. However, in the real world, buyers, all too often, have financial limits. Due to this fact, a professional Realtor®, whether working for the seller or the buyer, will endeavor to use their creativity to help close a deal. |
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| Unless, as the seller, you are in the enviable position of having qualified buyers beating down your door, you may be wise to consider compromising a bit in order to complete your sale. |
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| Creative financing may include negotiating some of the closing costs, altering the down payment, some owner financing or many other variations. You should consider each offer on its merits. It is quite possible that a couple may have great job and income prospects but no credit rating built up. |
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| Consider the case of two newly graduated physicians who are anxious to buy a home due to the impending birth of a child. There would be little doubt as to their future earnings but getting their first home may require a little creativity on the part of your Realtors®! |
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| Evaluating Multiple Bids |
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| When you are selling your home you may find yourself receiving more than one offer at a time. Offers usually have time limits. These time limits are frequently for 24 hours. You must therefore assess the different offers quickly in order to make sure that the one you accept is still open. |
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| Offers will come with different conditions. The ideal offer is one which offers you full price and has no conditions attached. It is unusual to receive an offer of this type, but this would be the obvious one to accept if one had a choice. Most offers will be conditional upon the purchaser obtaining financing or selling their present home. |
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| In order to evaluate offers bearing either of these conditions, you would want as much information as possible about the purchaser's ability to obtain funding or sell their home. If you do accept an offer conditional to the purchaser selling their home, you could sit waiting for a long time and miss other potential purchasers. If, however, your Realtor® assures you that the purchasers home is highly desirable and has offers already coming in on it you may decide to accept the offer. |
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| Your Realtor® will be able to explain the benefits and potential drawbacks of each offer. The ultimate decision of which offer to accept will depend on your priorities. |
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| So! You Got a Low Offer |
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| Now that you've taken all your Realtors® suggestions in presenting your home in the best possible light and have decided on an asking price which may seem low to you, someone has the nerve to offer a price that's even lower! |
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| If you feel yourself bristle, take a deep breath and remember that this is the first step of negotiations. The offer may be low, but this may not be the best offer you will get from this buyer. Your Realtor® has likely determined the sincerity of this prospective buyer and will suggest that some negotiating take place. |
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| Your Realtor® is experienced at fielding offers and making suggestions for counter-offers. Let them know what you will negotiate on and listen to their advice. It may not be in your best interest to stand firm on some points but it may in others. That's where your Realtors® experience comes in. They are skilled in reconciling buyer and seller's differences and often are successful in reaching a deal with which both parties feel satisfied. |
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| Remember a low offer is not really an insult to your home. It's a buyer trying to negotiate the best deal he can, while you are trying to make as good a profit as you can. The Realtor® wants both of you to be satisfied with this agreement and will do their best to make this happen! |
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| The First Offer |
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| Your Realtor® has contacted just a few days after listing you house, to tell you about an offer just brought in. You would like to take some time to think about it because you may be thinking that someone else might come up with a higher offer.Be careful! |
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| Your Realtor® knows that most often the first offer is usually also the best offer. So if the offer is within reasonable range of asking price, and the buyer has financing available, you may be wise to take the offer. |
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| Most buyers place a deadline on the acceptance of their offer, which may cause pressure to the seller. However, try not to let this feeling influence your decision negatively. It may still be good offer! |
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| Trust your Realtors® experience in this area. They have experience in negotiating transactions and know that there is a period in which the buyer may get "cold feet". If they have to wait too long for a response to their offer, they have time to second-guess and may experience doubt about whether they want to take such a big step. |
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| Of course, no one wants to rush the buyer into making a decision they may regret, however, if they have made an offer that looks good it indicates they are ready to buy. This may be the best offer the seller receives and holding out for more may end up in "souring" a good deal. |
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| Try Negotiating |
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| We all want the best "bang" for our buck. After all, we've worked so hard to get what we have. |
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| Sometimes when an offer is made on a home, the seller is offended. Try to remember that this is a business deal and the buyer is just trying to get the best deal he or she can. Think negotiate. A good real estate agent is your best candidate for this task. |
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| A professional Realtor® is skilled in negotiating offers and counter-offers between buyers and sellers. They can act as a mediator and advise both parties. Sometimes these negotiations can go on for weeks! If the negotiations are happening, the buyer wants your property. |
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| Remember a successful deal is one where everyone comes away happy. So take heart and rely on your Realtor® advice. If an offer is too low, don't be discouraged: counter offer! Your Realtor® will be the mediator for offers and counter offers and will advise you all the way through the process. |
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| What Contingencies to Include |
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| We have already discussed many things the buyer has to be aware of prior to making an offer on a property. A Realtor® acts as an advisor, a negotiator and a researcher. If you are looking to purchase a property there are some basic components you'll need to submit an offer. |
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| Some of these are a financial contingency (your offer is contingent of your ability to obtain the funds), an engineer's, termite and radon inspection contingency, an itemized list of personal properties you want included in the purchase, such as washer/dryer or drapes and finally the closing date you prefer. |
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| It's not just a matter of submitting an offer, it should also include all of the above. Your Realtor® will act as the conveyer of this information between buyer and seller. |
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| It's important for buyers to make their best offer first and it's important for sellers to remember that often the first offer is the best. However, if the offer doesn't meet with your expectations - counter-offer! |
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| The MOST important thing to remember is that the Realtor® is the buyer and seller's best friend. They have all the knowledge thats needed to complete a satisfying deal for both parties. |
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| What's a Clean Offer |
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| A "clean" offer does not concern the price for a house, but rather, it is a word used to describe the terms of the arrangement made between the seller and buyer. If your mind is set on closing on a certain home, then the "cleaner" the deal the better for all involved. |
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| A contract is made "clean" if the buyers are paying cash for their purchase or have definitely qualified for a mortgage, the buyers haven't made any specific contentions within the arrangement or they don't have to sell their previous home before taking over another home. |
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| A "clean" proposal has a considerable competitive edge if you are making an offer that is less than full price or if you are one of many bids on the home. Remember, the "cleaner" you can make the offer, the better the chances are that you are going to get the home you desire. |
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