You’re home has been listed, you’ve had multiple showings and a successful open house and now the offers have been submitted to us as your agents.
So now what?
Before we present those offers for your serious consideration, we are hard at work to fully vet the Buyer’s offer terms.
The first thing we do is to prepare a list of the critical offer terms:
- Price
- Length of escrow
- Deposit or Earnest money amount
- Financing terms
- Is the buyer asking for closing costs?
- Is the buyer relying on any gift funds or down payment assistance?
- Appraisal contingency period
- Loan contingency period
- Inspection contingency period
- Natural Hazard Zone Disclosure
- Wood pest inspection
- Escrow fees and provider
- Title fees and provider
- Home Warranty
- Private transfer taxes
- City transfer taxes
- Expiration of offer
Obviously, the Seller’s biggest concern is price. And while price is very important, a careful analysis of the terms is critical.
We want to make sure the Seller goes into contract with eyes wide open and reasonable expectations of the Buyer’s ability to perform.