The highest offer isn’t always the best
08/07/2015 | Author: Marty Kramer
Price may be the most important factor when deciding whether to accept a buyer’s offer for your home, but it’s not the only one. Here are some other considerations:
Do you have the time?
If you need to close as soon as possible—or if your circumstances require a later date—you may prefer an offer from a buyer that matches your time frame to one that’s a little higher but inconvenient.
Does it depend on factors outside your control?
A purchase offer contingent on the buyer successfully selling her home first may not be as attractive as one without a contingency clause.
Is the buyer qualified?
The less you know about whether a buyer can get a loan for your home, the higher the risk of the transaction falling through. A buyer who shows that he has been preapproved for a loan is less likely to have problems following through with the purchase.
Do you have to jump through hoops?
Buyers may ask for appliances or furnishings to be included in the sale. They could request that you make certain repairs. They might even ask you to pay some costs typically paid by buyers. Each request such as these makes the offer price a little less valuable.
Your Texas REALTOR® can review offers with you to discuss how they stack up in all aspects, not just price. Then you can move forward with the transaction that works best for you.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.
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