Article provided by: BuyBye Holdings
When selling a home, you may get many offers from prospective buyers. Deciding on the best deal might be tricky when you don’t know the terms and conditions of an offer. Also, before you set a price on your home, it’s a good idea to list all your priorities, which will help you decide on the right offer depending on your particular situation and the factors that matter the most to you.
At BuybyeHoldings, we give you the best offer for your property. And what’s even better, you will sell home no agent, meaning more cash in your pocket. With us, you’re assured of a great experience and fast sale for your property.
Four Essential Components of an Offer
For an offer to be a good deal to the seller, it should have the following:
- Offer Price
As a seller, the offer price makes a huge difference. You should choose the highest offer, but consider components such as the closing date, and other contingencies. A good offer will provide you relocation costs, help clear debts, and meet other needs. The buyer sets an offer with an intention to win the seller based on the home’s value and other potential investors’ rates.
- Earnest Money Deposit
Buyers have to decide how much they want to put towards a deposit. This earnest money shows that the buyer is serious about purchasing the property. It should range between 1-3 percent of the property price; the higher the price, the better for you as the seller. If the deposit is huge, you will be more confident that the deal will go through. Again, it’s an advantage to you in case the buyer pulls out and leaves the money.
These are conditions that must be met for a real estate contract to become binding. The common contingencies include inspection, financing, and appraisal: the fewer the contingencies, the better for a seller. For the buyer, contingencies help them choose a suitable property that is habitable and free from risks.
- Closing Date
When you’re in “closing,” that means the transaction is almost complete. The deed is delivered, documents are signed, and payment is made. A buyer who closes immediately is the best for you, especially when you need cash urgently. However, if you have things to settle like an unfinished house that you are moving into, it’s good to extend the timeline.
What Happens When You Are Given an Offer?
When a buyer gives you an offer, you either decline, accept, or counter the offer. If you counter an offer, the buyer negotiates back and forth as you would allow, until you both reach an agreement or someone decides to walk away. If you accept the offer, you sign the purchase agreement and get into the contingency stage. This is where either inspection or appraisal occurs. Upon denying the offer, you welcome other new potential buyers with better terms.
Sell Your Home on the Best Bid
Finding someone to buy your home is one thing while getting an amazing offer is another. At BuybyeHoldings, we’ll give you an attractive deal for your home. Our offers have no contingency fees, have fast closing, and we pay cash. We’ll give you the best deal as you’ll sell home no agent. Contact us today on (480) 201 5533 to make a quick sale.