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| Important
Questions to Ask Yourself |
| When
you receive an offer, the first thing you will probably
want to do is find out how much money they are offering.
Although price is of course important you really need
to examine the offer in its entirety. This means looking
at the price, terms and contingencies.
Ask yourself the following questions:
- Did the buyer offer the list price? If not, is the
offer price in the ballpark of the list price or is
it way under?
- Did the buyer put down enough earnest money so you
believe the offer is serious?
- Is the down payment sufficient so you believe the
buyer can actually afford the property?
- What contingencies are included in the offer?
- Buyer obtaining financing is a common and reasonable
contingency however a specific timeline should be
included
- The sale being contingent on the sale of the buyer's
old home
can be a little more difficult as the seller does
not know the condition of the old home and whether
it will sell easily.
This may be one you will not want to consider.
- The closing timeline can also be a contingency.
In other words the sale may be contingent on closing
within a specific timeframe.
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