The Home Selling Process - Step 5: Reviewing & Accepting an Offer on your Home
Not all offers are created equal. Fortunately, your real estate agent is there to help you review an Offer to Purchase and discuss all the details. Here are a few things you should do:
• Get to know the terms – the main factors on most offers will include the price the buyer wants to pay, details about the offer and financing as well as any conditions, inclusions or exclusions the buyer wants to make contingent on the closing. These offers can be “firm” which means that they’re willing to buy the home exactly as it is. Or, the offer could be “conditional” on things like a home inspection, approval of financing or the sale of their existing home
• Review every detail – it’s not just about price. The buyers may have asked for other things to be included like appliances, draperies or chandeliers. They may have even requested some minor renovations like reshingling your roof or repairing your driveway. Some buyers may have asked for longer or shorter closing periods or made it contingent upon something else like selling their current home. All these factors influence what the offer truly looks like. An experienced Royal LePage agent will help you decide whether to accept, reject or make a counter offer.
If you accept, congratulations. If not, then it’s time to move onto the next step…