Of course, as a seller, you want to get the most money out of your home when you sell it as possible. But there is a lot more to offers that just the dollar amount.
It is important to review ALL aspects of an offer before signing it, regardless of whether you have just one on the table or ten.
So let’s talk about some other key components you should be reviewing in your offers.
• Reputable Lender. A offer well over asking may be amazing, but if the lender can get that loan to the closing table, then it is all for naught. Make sure the lender has a good reputation and can get the deal done within the specified time.
• Closing Date. Does this date fit your needs? Is it too lengthy? Not far enough out?
• Reasonable Dates. Beyond just the closing date, you want to make sure the other dates are are reasonably short. Why, you may ask? If the buyer asks for an exceptional long inspection period and then decides at the final hour that the home inspection does not meet their expectations then you have wasted an awfully long amount of time off the market. You want to get it back on the market quickly if there is an issue.
• Contingencies. Does the buyer have to sell a home prior to purchasing yours? Any contingency like this puts an extra layer of risk in the deal. It happens quite often, but be aware.
• Concessions. Sometimes the buyer will ask for the seller to pay concessions at closing towards their closing costs. This will affect your bottom line.