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.
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.