|Deciding to Sell||Select a Realtor® & Price||Prepare to Sell||Accepting An Offer||Due Diligence||Buying Your Next Home|
It’s Not All About the Offer Price.
“The higher the price, the better the offer.” Price is not always the determining factor when accepting an offer for several important reasons. As you may already know, a buyer’s first offer is usually not their final offer. There are a number of terms and conditions that can be negotiated to influence the final outcome of a price. As your trusted real estate advisor, our experienced team will assist you in thoroughly evaluating every proposal without compromising your marketing position.
Negotiating The Right Way.
We take the ethical responsibility of fairly negotiating contractual terms very seriously. It is our job to bring both parties together to find a win-win agreement that is beneficial to all. You may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for your goals – and as your agent, we will guarantee a thorough and objective assessment of each offer to help you make the best choice.
The Initial Agreement, Earnest Money and Due Diligence Fee.
An effective agreement is a legal arrangement between two parties – the potential buyer and the seller, legally binding with consideration, such as earnest money. This consideration is held in the closing attorney’s escrow account pending the fulfillment of conditions or contingencies in the effective agreement.
What is the difference between Earnest Money and Due Diligence Fee?
The Offer to Purchase and Contract allows for a negotiated, non-refundable “due diligence fee” to be paid by the buyer, directly to the seller, in exchange for the amount of time associated with the due diligence period. During this period, and at the seller’s discretion, their property may remain available for showings and back-up offers and contracts.
Earnest Money primarily shows “earnestness” from the buyer to seller and is credited back to the buyer at closing. If the buyer walks away from the cntract after the due diligence period has completed, the earnest money is awarded to the seller.
Some important tips to keep in mind to streamline the process even further:
Keep written records of everything.
It will be extremely useful to transcribe all verbal agreements including counter-offers and addendums, and convert them to written agreements to be signed by both parties. Our team will assist you in drafting all the paperwork for your sale and make sure that you have copies of everything.
Once you have gone under contract and are in the due diligence period, we will give you a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements within the contract on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of their agreements. During the process we will keep you constantly updated so you will always be prepared for the next step.
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