Accepting an offer on your property:
The Price Is Not Always Right.
As the saying goes, “The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception; it may not be true. Price is not always the determining factor in accepting an offer for several important reasons; such as closing date and earnest money. The initial offer is usually not final and there are a number of terms and conditions that may influence the final outcome of price. For one, the home and property inspections may have conditionals that can change the overall picture. Trust a Surfside Realtor, and we will help evaluate every proposal; without compromising your position.
Negotiating Contracts The Right Way:
With negotiating, there is ethical responsibility to negotiate the contractual terms with the other party. Such as keeping your position confidential from the other side. The end game is to ratify an agreement that is beneficial to all parties involved. In a perfect world, you receive multiple offers before ratifying the best one. This is a good thing, yet it is important to weigh all option as price isn’t always king. Surfside Realty Outer Banks guarantees you a thorough and objective assessment of all offers; even the worst of offers.
The Initial Agreement and Deposit.
An effective agreement is a legal arrangement between a potential purchaser and the seller. Laws vary from state to state, so in order to be a legally binding agreement. The agreement will also require consideration; most of the time. This consideration of initial and additional deposit is to be held in a trust account. This is pending the fulfillment of conditions or contingencies in the agreement.
Here are some important tips to streamline your process:
- Keep written records. For the sake of clarity, it will be useful to transcribe all verbal agreements, and this includes counter-offers and addendums. They should be converted from written agreements, and then signed by both parties. We assist our clients in drafting all the paperwork for your sale, then make sure you have copies of everything.
- Stick to the schedule. Now that you have chosen an offer, you and the buyer have a timeline to mark every stage in the closing of the real estate contract. This timeline can have many parts, and meeting the time requirements on time ensures a smoother flow of negotiations. It also ensures that each party involved is not breaching their agreements. During this time we keep you updated so you are prepared to pivot when necessary.