WHEN THE SELLER RECEIVES AN OFFER.....
When reading an offer, keep in mind that your goal is to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer. Ask your agents' opinion.
Some terms that may work in your favor:
- holding a second deed of trust at a higher-than-market-interest
- the buyer will pay for most or all of their closing costs
- the buyer will take care of any repairs
- quick close - the buyer is pre-approved and ready to close in a timeframe that best suits you
- all-cash deal
When reading through offers, remember to look at the whole package. Take the time that you need to assess what is being offered and if it meets your needs. Also, with multiple offers, do a spreadsheet and compare price plus terms. You may be surprised to find that offer you had not paid attention to at first may be exactly the best.