As a homeowner selling my home, how do I evaluate an offer to buy my home?

A stack of Money/Picture of money (The followi...

A stack of Money/Picture of money (The following is the description taken from image metadata on the FBI Buffalo Website) Orientation of image: 1 File change date and time: 2010:06:02 12:07:25 Software used: Adobe Photoshop CS3 Windows (Photo credit: Wikipedia)

If you are using a Realtor to market your home and help guide you through the process you should be in good hands. One of the first things a Realtor will do for you when they receive an offer to purchase your home is to ask for a pre-approval letter from the buyer’s mortgage lender or a proof of funds letter if the buyer says they will pay cash. A buyer that has been pre-approved is generally a stronger, more desirable buyer.

The first thing most sellers think of when receiving an offer is how much is it for. While that is very important, it should not be the only criteria a seller should use in deciding whether or not to accept an offer.

Other than being pre-approved, what kind of loan is the buyer applying for; conventional, FHA, VA etc. Also how much of a down payment and deposit are they going to make?

Another aspect to consider will be how soon are they willing to close, before you accept an offer is usually the best time to make sure everyone is in agreement on the closing date. It can be rather difficult to change after a deal has been agreed to.

Other items will be what concessions the buyer is asking for, whether they are asking for furniture or other household items and whether the buyer will have to sell another piece of property before they buy can be very important to a seller. Inspections, finance approval, appraisals are all be items that can trip up a deal so make sure your Realtor discusses all of these with you.

Good luck and if you need any assistance, please send me an email at ssaporito@coldwellbankerone.com

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About saporitorealtor

I am a Realtor working in south Louisiana to help my clients with their real estate investments. Whether it's buying, selling or building a portfolio of investment properties, I will advise you every step of the way. Coldwell Banker One 5025 Bluebonnet Blvd. Baton Rouge, LA 70809 225-925-2500 or 225-335-5970 ssaporito@coldwellbankerone.com www.scottsaporito.com
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One Response to As a homeowner selling my home, how do I evaluate an offer to buy my home?

  1. Reblogged this on Baton Rouge Housing News and commented:
    Interesting!

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