Receiving an offer is exciting, but negotiation is key. Offers often involve counteroffers before an agreement is reached.
Evaluating an Offer
Your agent must present all offers. While you can set a minimum price, consider all offers, as each has pros and cons.
Key Factors:
Buyer Readiness
Do they have mortgage pre-approval?
Have they chosen a lawyer?
Are they ready to move quickly?
Buyer’s Situation
Are they selling another property? Is it under offer?
Are they a cash buyer or need financing?
Does anyone funding the purchase still need to see the property?
Offer Price
How does it compare to the asking price?
Will it cover your next purchase?
Do other factors (quick closing, fewer conditions) make up for a lower price?
Agent Feedback
Is this the best offer?
Are there other interested buyers?
Is the buyer serious and financially prepared?
Are similar properties available at a better price?
Making a Decision
Consider the offer carefully, but respond within 48 hours to keep the buyer engaged. You’re not oblig…
