Edina Home | Edina Homes
Edina Homes

Crafting an Acceptable Offer

October 1, 2014 by · Leave a Comment 

An agent was presenting a contract to a single, senior woman who was moving into a retirement home. It was a full price offer with reasonable terms and timelines but the seller wouldn’t accept it. When the agent probed deeper, she discovered that the seller was concerned with her dining room table.

It had been the first piece of nice furniture that she and her husband had purchased and they had literally spent a lifetime celebrating and making decisions at that table. It troubled the owner to think that the table would go to strangers who might not appreciate it as much as her family had.

The agent told the elderly seller that she knew of a church nearby that had a community room filled with lovely tables like hers. If she liked the idea, the agent would call the church to see if they’d like to have it. Once a new home for the table was found, the sale of the home went smoothly.

Lower inventory and increased demand in certain price ranges have increased the frequency of multiple offers on the same home. Sellers are frequently faced with a decision dilemma on which offer to accept and the price may not be the most important factor.

Sellers generally need the equity from the sale of their home to purchase another one but they also don’t want to have to temporarily move if they’re not able to get into the home they’re purchasing. Flexible buyers have discovered the value in coordinating the sale and possession of the homes.

Sellers want to know when they make a decision on an offer, that the buyers will be able to perform as the contract is written. The more contingencies that can be eliminated or minimized, the more comfortable a seller will feel about the certainty that it will close according to schedule.

The buyer should be pre-approved with all verification and credit reports having been done. Simply having a loan officer’s opinion is definitely not the same thing as a pre-approval.

There is a unique dynamic to every transaction because the parties are individuals with infinite priorities and values. The art of the deal takes place when these unique variables are considered to define a mutually acceptable offer involving price, terms and conditions. The role and experience of the agents contribute to the successful outcome.

READ MORE

Previous: Seller Safety Plan
Next: Opportunity Costs

Comments are closed.

Disclaimer: This communication is provided to you for informational purposes only and should not be relied upon by you. RE/MAX Results is not a mortgage lender and so you should contact a mortgage broker or lender directly to learn more about its mortgage products and your eligibility for such products. Regarding specific blog postings, external links and any other information found on this site, neither John Mazzara nor RE/MAX Results assumes any responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. John Mazzara and RE/MAX Results are not associated with the government, and our service is not approved by the government or your existing lender. Even if you accept this offer and use this site and/or our services, your lender may not agree to change your loan should you decide to pursue a short sale or any other change involving your loan or loan terms and conditions. If you should decide to engage our services in marketing your home as a short sale, there will be no up front cost to you and you may cancel our listing contract at any time. · Each Office Independently Owned and Operated

Edina Home | Edina Homes