7 Must-Have Contract Conditions

What should sellers look for when reviewing their contract with a buyer? There are seven important points I would like to mention today.

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When you get an offer on your home, what items should you be looking for in the contract to make sure you have covered all your bases?

Today I will tell you. There are seven must-have conditions any real estate contract should have. Here is what you should be looking for:

1. What are the finance terms? Whether a buyer is paying cash or using a loan, it is important to have an understanding of these terms and how they impact you as the seller.

2. Is the buyer asking you to pay any closing costs?

3. Who is paying for what in the transaction? Knowing how expenses have been broken down will be crucial.

4. Is the buyer having an inspection? If they are, the amount of time that will take and what the buyer expects of you after receiving the results should all be spelled out in the contract.

There are seven must-have conditions any real estate contract should have.

5. Have you listed all of the appliances and fixtures that are staying with the property? If there is anything you plan on taking with you, make sure this is specified in the contract.

6. What is the closing date? Beyond this, you should also be aware of when the buyer plans to take possession.

7. Is there another home being sold? If the buyer is also selling a property, this could have a significant impact on your transaction.

There are a lot of things to think about when you are selling, which is exactly why you need professional guidance. I may be biased, but I think my team is the right choice for this job.

If you have any other questions, would like more information, or are curious about how we can help you meet your real estate goals, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Which Kind of Offer Should Sellers Select?

How can sellers make the right choice when deciding between multiple offers? There are a few important factors they should consider.

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If you’re lucky enough to be selling a home in 2018 and end up with multiple offers on your home, how do you choose between them?

This common problem is actually not a problem at all, but it can still put sellers in a tough position, nonetheless.

One of our team’s sellers actually received 11 offers in just 24 hours of their home being on the market. While getting this much attention for your listing is exciting, it also creates a difficult choice.

The first step in determining which offer is best is to realize that price should not always be the deciding factor. Sometimes an offer with great terms can outshine those with a slightly lower price. Things like whether a buyer is paying cash, whether their offer has few contingencies, and more are all things to keep in mind.

Beyond looking at terms, sellers should also think about whether they will need to be out of the home on the day of closing.     

All aspects of an offer should be taken into account before you make a final decision.

It’s also good to find out what kind of loan a buyer plans to use, as this could have an impact on how long the transaction will take. Additionally, loans may be subject to an inspection or appraisal.

Having a clear and complete understanding of what the buyer is offering will help guide your decision as you examine your choices. All aspects of an offer should be taken into account before you make a final decision.

Our team would be more than happy to help you select the offer that will be most beneficial to you. We can also help you through the process of lining up a backup offer.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.