Sometimes as your agent I may overlook going over these details because I know you trust that you are in good hands, or that you may have experience. I want your experience to be the best with no stone unturned so this guide will help you when it comes to receiving an offer on your home.
• You can do 3 things with any offer:
a. Disregard it - You don’t have to accept it, or sign it back if you don’t want to (after all it is your home, so it is your decision!)
b. Accept it - If you are satisfied with the offer, then accept it
c. Sign it back - If it needs some improving/ changing then dont be shy, again, it is your home; ask for what you want when it comes to price, dates lining up (closing),
• Conditions:
Once you accept an offer you can’t accept another offer. If an offer is conditional and it gets accepted you can not accept another offer. You can receive other offers, but not accept, so I urge you to still show the property if you end up selling it conditionally. I also do everything in my power and utilize every strategy, so that you are not having to accept a conditional offer, however, in a more balanced market, selling a property conditional is the norm.
• Most offers will have 2 revisit requests in them. These revisits are a 1 hour period used for the buyer to come visit their new home. Some people use these visits to show family their new home, or they may use it to bring contractors in. Most agents are good about requesting the time, they would typically ask about 1 week in advance of when they wish to come. Typically one of the visits is saved for the week of closing. We know that its a busy time for you with your move, however, try your best to accommodate. The agent/ their buyers understand that the home is not going to show like the day that they bought the home!
• Many offers (in a balanced market) may be conditional on a home inspection satisfactory to the buyer at their sole discretion. More often than not, a buyer would like the opportunity for a professional to assess the property and any potential structural, surface, and cosemetic damages and risks. It is common for imperfections to be found, however, greater issues that pose a threat to the use of the property may threaten the deal, or may require the purchase price to be amended accordingly or any said issues to be resolved by the time of closing.
• If you are hosting an offer evening you would not want to look at an offer that has a condition prior to then. It ties up the property and throws a wrench into the plan. In my opinion a pre-emptive (bully) offer would really need to beat your expectations for you to consider it in advance of an offer evening.
I will update you personally as new offers get registered, but not the details of these offers as we likely will not have them until the deadline. We have asked all offers to be registered and submitted by 1pm. We will coordinate with you on the day of, if you would like to do this remotely or in person. We usually like to review them with you around 3pm When we have decided which offer we prefer to work with we will go through that offer in fine detail.