You Have an Offer on Your Home, Now What?

Gloria Smith
 


Visitors: 245

After all the hard work in putting your house up for sale and in attracting/accommodating potential buyers (with the help of a realtor, at the most), an offer or a series of offers finally comes in.

This is the time when your decision making will be put into real test as this portion of the sale process is the most mentally tough on almost all sellers. Unlike the earlier stages wherein it is more physically stressful, deciding on offers will determine the success of a real estate transaction and more importantly, the future of the seller and his/her family.

If you are deciding on multiple offers, it is elementary to compare these offers thoroughly and select the best one. More often than not, the highest bids win, but it is advised to have a backup buyer in case a falling out ensues during the negotiation with the original buyer. Moreover, it is recommended that you use whatever legitimate leverage you have (e. g. sweetening the deal by throwing in furniture and appliances that are already in the house) to entice buyers to agree on a higher price during negotiations.

But even before negotiations, always be sure to check a buyer’s profile first so that you can avoid wasting time on fraudulent or unworthy transactions. Among the buyer information that should be investigated are his/her debt and credit history, cash position, employment status, current income, and other related financial information. Consulting a tax consultant beforehand will also be advantageous because you will be able to identify the tax-related costs attached to the sale of your property, which you can incorporate in your asking price.

During the negotiation and subsequent agreement, it is best to be represented by an attorney who has had substantial experience in handling real estate transactions. The presence of a seasoned attorney will make sure that all terms, conditions, and penalties (if ever there are) are in writing to avoid future mix-ups.

Real Estate Forms

(344)

Article Source:


 
Rate this Article: 
 
Getting a Really Low Offer on Your FSBO Home
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Is That Type At Home Offer Just Another Home Business Scam?

by: Sandi Moses (August 30, 2007) 
(Home Based Business)

Home Sellers - Things to Look out for When You Receive an Offer on Your Home

by: Marc Rasmussen (November 24, 2005) 
(Real Estate/FSBO)

Home Improvement Loans Can Offer Your Home a New Look

by: Paul Rogers (September 30, 2008) 
(Finance/Loans)

So You Got an Offer On Your Home - Now What?

by: Sharon Foster (January 22, 2008) 
(Real Estate/Selling)

Making an Offer on a Home

by: Lee Keadle (June 05, 2007) 
(Real Estate)

Making the Best Offer on a Home

by: Nancy Niblett (January 15, 2009) 
(Real Estate/Buying)

So You've Put an Offer on a Home. What's Next?

by: Kevin McMahon (November 14, 2004) 
(Home Improvement)

Offer This Home Staging Tip First

by: Teri B Clark (April 06, 2007) 
(Real Estate)

Buying a Home The Phantom Offer

by: Larry L Lloyd (July 08, 2008) 
(Real Estate/Buying)

Getting a Really Low Offer on Your FSBO Home

by: Raynor James (October 03, 2006) 
(Real Estate)