When selling your home independently, evaluating offers can force you out of your comfort zone. That’s why we’ve put together a guide to help you navigate this crucial process.

1. Offer Price vs. Asking Price

• • Compare the offer to your asking price and recent comparable sales
  • Consider market conditions and how long your property has been listed

2. Contingencies

• • Common contingencies include financing, home inspection, building and pest, and sale of buyer’s current home
  • Fewer contingencies generally make an offer stronger

3. Closing Date

• • Evaluate if the proposed date aligns with your timeline
  • Consider any financial implications of an earlier or later closing

4. Earnest Money Deposit

• • A larger deposit often indicates a more serious buyer
  • Typically 1-3% of the purchase price

5. Unusual Requests or Terms

• • Look for any atypical requests that might complicate the sale
  • Consider the impact of these terms on your overall goals

6. Buyer’s Financial Qualifications

• • Review the buyer’s pre-approval letter (if provided)
  • Consider the strength of their financing (cash offers vs. mortgage)

7. Included/Excluded Items

• • Ensure clarity on what stays with the house and what doesn’t
  • Address any discrepancies between your listing and the offer

8. Seller Concessions

• • Evaluate any requests for closing cost assistance or repairs
  • Consider how this impact your net proceeds

9. Multiple Offers

• • Compare all aspects of each offer, not just price
  • Consider requesting “best and final” offers if appropriate

10. Legal Considerations

• • Understand the binding nature of accepting an offer
  • Consider having a legal professional review before acceptance

Remember, while this guide provides a framework for evaluating offers, the process can be complex. If you find yourself uncomfortable handling negotiations or evaluating offers, Vervé Property are able to assist. Our sales experts can follow up after open homes, help you negotiate terms, and ensure you get the best possible outcome for your property sale.

Simply view our add-on options at the botton of this page, or email us direct at info@myverve.com.au.

PHASE FIVE

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