Here are six factors aside from price that make a good home offer.
A high sale price is super important when selling your home, but what other factors are important when evaluating a buyer’s offer? I think these six items are just as important as the sale price:
1. Negotiable fees or closing costs. These are customarily paid by the seller in a normal market, but some buyers are offering to pay them in this strong seller’s market.
2. Closing date. If you’re not under contract on another home, maybe you need a longer closing date to match that timeline. It’s all negotiable, so that’s something else to consider.
3. A leaseback. This allows you to rent the property back from the buyer for up to 60 days and could be the difference between two offers that are similar in price.
“If a buyer offers to cover an appraisal gap, it’s a strong offer.”
4. Guaranteed offer. This is a term I made up to discuss the difference between the appraised value and the agreed-upon purchase price. Low appraisals are happening more and more frequently in this rapidly appreciating market. If a buyer offers to cover that gap, it’s a strong offer.
5. The buyer’s agent’s reputation. Are they easy to get along with, do they have a reputation for getting deals closed? You need to lean on your listing agent to determine that.
6. The lender’s reputation. Are they easy to get along with, do they have a reputation for getting things closed?
If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.