Picking the Best Offer - Highland Township real estate

How to pick the best offer

When selling your piece of Highland Township real estate you may be confused on which one is the best offer.  Yes you have multiple offers now you need to sort them out.  Just because one buyer's offer has a higher price does not mean it is the best offer.

You have to figure out the net price.  Net price is the price you will walk away with after all the costs. 

   1.) Is the buyer asking for any seller concessions, closing costs, or credits?

   2.) Is the buyer asking for furniture, appliances, or other items that the other offers are not.  That is money coming out of your pocket.  If they are asking for $6,500 in sellers concession that is $6,500 off the sale price.  That is $6,500 out of your pocket

Here are some other items you have to consider:

Are there any other factors or contingencies such as

*  home warranty... are they asking you to pay it?

*  do they have to sell their house?

*  when is the closing? 

*  do they have to do an inspection?  What is the time frame?

*  when do they want occupancy or possession of the house?

*  do they have to get a mortgage?  What type of mortgage?

A cash sale is usually better than somebody that has to get approved for a mortgage because no underwriter or lender can kill your deal.  Plus it closes faster and there is no appraisal.  A buyer who is not going to do an inspection is better than one who is because the inspection may turn up something that the 2nd buyer doesn't like.  It gives them an "out" of the contract.  If they have to sell their house, what happens if they don't sell?  You will have lost out a good sale for a few thousand less.

When you get a purchase agreement or sales contract for your Highland Township home or any Metro Detroit home read it carefully.  Have your agent read it.  Ask your agent about anything that you don't understand.  Once you sign it, it is too late.  Think about it, analyze it, and then sign if you want to sell your home.

The key to picking the best offer is by being an informed consumer.  Know the major points of the purchase contract.  Of course getting the most money is your main concern but there can be other factors that affect picking the best offer.  I hope these Metro Detroit home selling tips make your home sale going easier.  Feel free to call me with questions.... my cell is (248)310-6239

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