All The Steps You Need To Know – And Do – To Sell Your House
Seller’s Guide Step 4: OFFERS & NEGOTIATIONS
If everything goes well, a buyer and (most often the agent who represents them) will present your agent with an offer.
Your agent will present the benefits and risks of each offer. You will have the opportunity to either accept or counter any offer based on its merits.
If your home has been on the market for a while and is not selling as fast as you want, you may need to go back and do some of the steps described above, such as home improvement. , competitive pricing and effective marketing.
Obtaining this exceptional offer is probably the biggest hurdle in the home selling process, but once your home is under contract, it does not necessarily mean that the challenges are over. Consider these potential issues that may arise between the time you accept an offer and the closing day.
Defective Home Inspection Report: A home inspection done by a home buyer can trigger all kinds of red flags and, when major problems are identified, a buyer may decide that patches are too expensive and flee the transaction. Whether the inspection report reveals minor solutions or big problems, be prepared to negotiate once the report is completed.
Home assessment too low: If your home buyer finances the home, his lender will usually order an appraisal to make sure the home is worth the amount financed. If the value of the house is less than the loan amount, the buyer will have to indicate the difference in cash or deviate from the transaction.
Funding Failure: During the underwriting process, it is possible that your buyer’s financing will fail. This may be due to many factors, such as new debt, missed credit card payments, or a job change that gives the bank the feeling that home financing carries too much risk.
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