The Deal

The 4 components of 'The Deal'

1 Offer(s) presented by buyer(s)

2. Negotiation to maximize price and terms

3. Execution of the contract which binds both parties

4. Closing the sale and transferring possession

Special care must be taken to ensure that we meet all of the requirements of each component to complete the successful sale of your home.

Offers

This is an exciting but sometimes tense stage of the selling process. While receiving an offer (or multiple offers) is great news, a buyer may also have requests or include conditions. How you navigate these variations can be the difference between a successful sale and falling out of contract with a buyer. We will help you understand these important distinctions, to achieve the best possible results.

What happens when an offer is made?

All offers received will be presented to you for consideration. We will explain the strengths and weaknesses of each, including price, contingencies, conditions, and timeframes. Based on this information, you will choose the offer that suits your needs and goals the best. Bear in mind, the best offer is not necessarily always the highest offer. Depending upon your unique needs, some unique provisions may have extra value and importance to you. We will cover all of that with you.

Things to consider

Cash Offer: The appeal of these is in the security of the closing (fewer potential points of failure) and a far shorter closing time frame. However, cash offers are often not the highest offers. You may be trading some potential equity for faster closing speed and security.

Love Letters: Buyers will often attempt to sway a seller through a sentimental "love letter" talking about themselves, their love of the property, etc... Unless specifically instructed by our client to present these, we typically refrain from clouding our seller's decision with them.

Contingency Clauses: These encompass the various conditions that must be met prior to closing. These usually relate to buyer financing, title work, appraisal, insurance, and inspections.

Closing Costs: A buyer may request that you pay a portion or percentage of the buyer closing costs, whether as a resolution to inspection issues or to help them buy down their loan rate.

Timeframe: We will review the proposed escrow schedule to ensure the dates work for you. If you have time constraints, such as the closing of a replacement property, it may affect the viability of an offer. We can often negotiate terms that will work for your unique situation, particularly if we are also helping you complete the purchase of a replacement property.

Bottom Line: It is possible that you might only receive offers below your asking price, so decide at the outset what your financial bottom line is. Remember to budget for your closing costs and other expenses (see Seller Costs on page 3.5).