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After successfully marketed your house, many buyers have visited your house. Now, it's time to review offers! Question ~ how to compare those offers then choose one luck buyer's offer? Understanding / Evaluating purchase offerThe Offer is a written purchase agreement that has submitted by buyer. Usually, buyer may find an real estate agent to help them to prepare and representing. As seller, you will have to response to buyer in timeline after received their offer. Seller will found many teams in purchase agreement, here are some explanation. Offer Price One of the most important term of the purchase agreement. Seller may choose one of the highest offer price. However, there is more behind the price: Is it a cash offer or with mortgage? What the percentage of down payment ? How many days to close of escrow? Seller may considerate to evaluating the risk of offer more than only choose by the price.Close of Escrow This is the period for process entire transaction, usually, seller would like to choose the shortest one. However, may need to match your requirements, like you want to rent-back which you get time to move out. Finical Terms This offer is a cash offer? or purchase with mortgage? The percentage of initial deposit and down payment. Seller most like the buyer to put more percentage of down payment. Also, If buyer can provide the source of down payment and mortgage pre-approve evidence, seller can get more finical information (purchase power) then help seller to choose an offer for smooth transaction. Allocation of Costs Which party have to pay those costs or fees, seller or buyer? There some items are typical and customary for country/city issue. Also, have impact by seller market or buyer market. Seller may considerate to evaluating with the value of the purchase price. Removal of Contingencies Buyer may put some contingencies in time periods that need to do specified terms, such as appraisal, loan, buyer's investigation. Usually, seller may considerate to choose with the short periods or no contingencies of the offer. After receive those offers, seller may considerate for some terms to make the decision. I will help you to evaluate or negotiate some terms and ensure to complete transaction in smooth way. [Back to top] |
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