When selling your home there are many things that can cost you 10's of thousands of dollars not to mention liabilities of disclosure. Here are some of the most important ones to consider.
1) Just because a buyer has offered the highest price does not mean that it will net you the highest amount in your pocket. In this market of rising prices appraisals have become an issue. Asking a buyer to remove their appraisal contingency means that they are going to buy the house at the offered price regardless of what the appraisal comes in at.
2) The timing and dates on when are where to sign on the multiple offers is extremely important. By not clicking a box could cause you to commit to selling your home to multiple buyers or accepting a lower offer.
3) There is balance act here that comes into play. You want to have a back-up offer in case the first buyer can not perform. At the same time you don't want to lose out on the ability to get a higher offer.
4) Asking for an earnest money deposit of at least 3% of the purchase price shows that the buyer is serious and if they were to back out after removing all the contingencies the seller could retain that deposit.
5) You don't want to go in and out of escrow. Don't take the buyers word that they have the money, verify all bank statements that they are current and there is liquid assets in the accounts.
To read an explanation of the other 5 click here.
1) Simply writing an offer without proof of being able to purchase will not allow a seller to make a decision on your offer. Make sure you also have proof of funds and an approval letter from a lender.
2) There are many things that you can do when writing an offer to make it stand out from the other offers. Knowing how to package the offer will make all the difference in whether your offer will be considered, countered, or accepted.
3) Be careful that your offer is not "shopped" around by the listing agent to try and get a higher offer.
4) Being proactive when writing offers is very important in this market of low inventory. Sometimes it is necessary to write offers on multiple properties. Knowing how to write the offer so that you are not committed to buying the multiple properties is the key.
5) You always want to make sure that the seller actually has the authority to sell the home. Otherwise you are wasting your time.
To continue reading an explanation on the other 5 click here.