13. What's in a good offer?
Offers are absolutely not just about the price. Before you "ratify" the offer (sign on the bottom line to turn the offer into a contract), consider a few indicators of good offers.
If you don’t have a good agent, it helps to have an understanding of current real estate loan standards, such as interest rates, fees, and financing timelines to confirm that the offer's financing is not overly optimistic. Bonus points if the buyer is pre-approved (a lender has confirmed buyer's income, employment, etc.) since this means you're dealing with someone serious about purchasing rather than someone simply testing the waters.
A good offer is fairly simple: I want to pay you X dollars, this is how I'll pay you, and I want to finish this by date Y. But most offers contain at least one contingency clause that predicate the transaction on certain conditions being met. Don't be put off by this; the good news is that it means your buyer has at least given some careful consideration to the offer.
Broker/Owner
Continental Realty, Inc.
16 Crow Canyon Court Suite 100
San Ramon CA 94583
925-548-5461
www.24by7bid.com
DRE# 01422589
No comments:
Post a Comment