Accepting an Offer
The Price Is Not Always Right
While the highest price is certainly an important factor when considering an offer on your property, it's not always the only determining factor. The initial offer is usually negotiable, and there are many terms and conditions that can impact the final price. Trust our professionals to help you evaluate offers and choose the best one for your needs, taking into account factors such as the buyer's ability to secure financing, the terms of the sale, and any contingencies included in the offer. We will work with you to identify the best buyer for your property and help you negotiate the best deal possible.
Negotiating To Win
As real estate professionals, we have an ethical obligation to negotiate contracts fairly. Our priority is always our clients, and we work to help you make the best decision when evaluating offers on your property. We are committed to keeping the buyer engaged throughout the process and will work with you to find the right balance between getting the best price for your property and ensuring a smooth and successful sale.
The Initial Agreement and Deposit
Once you and the buyer have agreed on the terms of the sale, you will both sign the initial contract, also known as the Purchase Agreement. The buyer will typically place a deposit in an escrow account, which is managed by a neutral third party such as a title company or attorney. The escrow agent holds, receives, and distributes all funds associated with the sale of your property until the closing date.
Laws vary by state, but in many cases, a legally binding agreement may require considerations, which are typically deposits from the buyer held in escrow pending the fulfillment of contingencies or conditions outlined in the Purchase Agreement. These contingencies may include things like the completion of inspections or the securing of financing.
To make the process of selling your property as smooth and efficient as possible, here are a few important tips to keep in mind:
- Keep written records of everything. This includes counter-offers, verbal agreements, and addendums. Ensure that both parties sign these documents to ensure they are legally binding. Our agents will help you draft and keep copies of all written records.
- Stay on schedule. You and the buyer will typically be given a timeline to complete any contingencies outlined in the Purchase Agreement. Meeting these requirements on time helps to ensure a more productive negotiation period and can prevent either party from breaching the contract. Our agents will keep you informed of the progress of the sale and help you prepare for each step.
- Stay organized. Keeping your documents and records organized can streamline the process and make it less stressful. Our agents will work with you to ensure that everything is in order and that you are prepared for each step of the sale.
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Fill out the form below and we will be in touch. Want immediate help? Call us at 757.466.8378.
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- Hampton Roads