CHAPTER 14 After Receiving an Offer
Congratulations! Receiving an offer on your home is an exciting milestone, but it’s only the beginning of the next phase of the selling process. Understanding what to do after receiving an offer is crucial to navigating the journey successfully and securing the best outcome for your sale. Review the Offer Carefully Not all offers are created equal. Beyond the price, there are several factors to consider: • Purchase Price: Is the offer close to your asking price? Is it competitive compared to market value? • Earnest Money: A higher earnest money deposit shows serious intent from the buyer. • Contingencies: Common contingencies include financing, inspection, and appraisal. Understand how these may impact your timeline and negotiation power. • Closing Date: Does the proposed closing date align with your plans? • Concessions: Is the buyer asking for repairs, credits, or other concessions? Take your time to review the offer with your real estate agent. They can provide valuable insights and help you determine whether the offer meets your goals. Decide: Accept, Counter, or Reject Once you’ve reviewed the offer, you have three options: • Accept: If the offer meets your expectations, you can sign the agreement, and the sale process moves forward. 63
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