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Monday, November 07, 2011

Offers to buy your house: discern that which is real, that which is realistic...

Interesting thing about a real estate transaction is everyone wants to win.   I have yet to meet a seller who said "I just want the buyer to get a better deal than me!"  Or, "I will sell for whatever they will give me!"

Conversely, I have yet to meet a buyer who said "I will just give seller whatever they want!"

Offers to purchase, much like people, come in all forms.  

Some cash buyers think the green gives them the right to purchase at a big discount.  And, although cash can talk, it is not so persuasive as to get a significant discount! 

Anyone can place any number on the offer...discern that which is real, that which is realistic.  Realistic means not too high (for an acceptable appraisal by the lender) and not too low (as to be dismissed as not serious).

As a buyer your challenge is to present an offer the seller recognizes as realistic along with the documentation (proof of funds, mortgage pre-approval) to let them know you can close the deal. 

And, the final bit of proof - a reasonable escrow check (upon acceptance) to show you are indeed serious.

As a seller, your job is simple - evaluate the offer along with the documentation and decide if it sufficiently meets your motivation for selling.

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