This may sound weird; a lot of our clients are surprised when we bring them an offer. With that in mind we wanted to make sure that you are not surprised and you are prepared to respond to it.
The Offer – Does the offer achieve your goal for selling?
Let’s look at money first. When you receive your offer you should also receive an estimated HUD Statement (closing statement) that shows you where all the money is going and most importantly how much you will receive at (or bring to) closing.
If that number achieves your goal for selling you should strongly consider taking it.
Now let’s look at terms and conditions. I’m talking about things including: closing dates, cash or financing, repair limits, who pays title costs (typically a buyer side cost), who pays doc stamps on the deed (typically a seller side cost), home warranty, what happens to renters, and any additional terms that may be asked for.
If the price and the terms and conditions meet your goal for selling I would urge you to accept the offer. If they do not meet your goal then I would encourage you to counter with a sales price and/or terms and conditions that do.
The Counter Offer – If the offer DOES NOT achieve your goal for selling – Definitely Counter
If the sales price and terms and conditions meet your goal but you are thinking that you may be able to get a little bit more – be careful because buyers can and do walk away from deals. Once you counter the original offer it is no longer valid and the buyer doesn’t have to move forward – even if you say ok, I will accept the original offer.
A test we like to use is to ask our sellers is a simple question: If the buyer walks are you going to kick yourself because you would have taken the offer? If the answer is yes then take the offer. If no, counter and try to work a deal that does.
Whatever you decide we are here to help you and provide guidance so that you do get what you want from the sale.