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Accepting an Offer

The Offer to Purchase process is the culmination of all of
your hard work preparing your home. Your REALTOR's
advice on pricing as well as your work on curb appeal
and having your home ready to show have combined to attract
one or more buyers who are interested in buying your home.

The negotiating process is crucial. Having an experienced
professional in your corner can pay off in terms of getting you a
higher final price for your home, as well as in negotiating
favorable contract conditions. Read on for more information on
the offer process.

Prev: Preparing to Sell

Next: Conditions, Inspections, and Appraisals


 

The Price is Not Always Right

“The higher the price, the better the offer” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust our professionals to help you thoroughly evaluate every proposal without compromising your marketing position.

Negotiating The Right Way

We take the ethical responsibility of fairly negotiating contractual terms very seriously. It is our job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for you – and as your agents, we will guarantee a thorough and objective assessment of each offer to help you make the right choice.

The Offer Process

Once a buyer decides that your home is the right one for them, they will put in an offer. At this point your REALTOR® will discuss with you the terms of the offer and advise you on what to do next, based on your situation and needs. You may even receive several offers at once, in this situation your REALTOR® will guide and advise you but it is ultimately your decision when determining which offer you’d like to work with.

Typically offers will go back and forth a few times between the buyers and the sellers as you try to agree on price and terms. When an offer goes back and forth like this it is referred to as being in ‘signback’. Any changes from the original offer will be documented in writing, although in extenuating circumstances negotiations will continue verbally until they can be documented in writing. This is where your REALTOR®’s negotiation skills and experience really go to work for you!

Some Important tips to keep in mind to streamline the process:

  • Keep written records of everything For the sake of clarity, it will be extremely useful to transcribe all verbal agreements including counter-offers and addendums, and convert them to written agreements to be signed by both parties. We will draft all of the paperwork for your sale and make sure that you have copies of everything.
  • Stick to the schedule Now that you have chosen your offer, you and the buyer will be given a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of their agreements. During the process we will keep you constantly updated so you will always be prepared for the next step.