Selling your California home is no easy task. As you begin to receive offers for your home, you may be wondering how to choose the right one. Below, we’ve listed the top 5 factors to take into consideration when reviewing a home offer. Read on to get the best tips!
- Review Every Term
Price isn’t the only thing worth considering when looking at an offer. Analyze how much the buyer is willing to put down as a deposit toward a downpayment. If it looks suspiciously low, the buyer could be giving themselves enough wiggle room to walk away completely. Read for repairs that the buyer is asking to be made. Are these repairs you’re willing to invest in? With every little detail, make a mental note if you’re willing to accept the terms. If there’s too many no’s from you, it may be time to decline the offer.
- Understand the Contingencies
Buyers may ask for a thousand different things. You just have to make sure you are willing to concede. There may be a financial contingency that allows them to take their money in earnest if the offer falls through. They may ask for some furniture you have in the home. Potential buyers can ask you to cover costs of closing. The important thing is deciding if you’re okay with these contingencies.
- Examine the Finances
Offers that have been accepted fall through every day. When loans fall through you’ll be left at square one to start over. For extra security, look to see if a buyer has be pre-approved for their loan. If they haven’t been pre-approved, your risk begins to go up and you’ll have decide if you want to take the gamble.
- Don’t Take It Personally
Selling can become emotional when you’ve created so many memories in your home. Any offer may seem really offensive when your sentimental value is not factored in by your potential buyers. Just remember, “It’s not personal, it’s business”. Making an offer means the potential buyer is interested, use that as a starting place for your response.
- Get Your Home Move-In Ready
On the preventative side of things, you can make repairs to your home in advance to curb repair contingencies. The upside would be avoiding the delays in closing. However, there are several drawbacks. Depending on the state of your home, repairs can take a lot of precious time and decidedly cost a great deal. Especially if your home is older, there may be code violations that need to be remedied before closing.
If you’re tired of waiting around for offers you don’t love, it may be time to consider a home investor. Contact us today to get an offer within 24 hours. We like to make the process of selling your home quick and easy. We’ll also take all the pressure off with our no-obligation offer.