How to Know When a Mortgage Is Best When Accepting an Offer If You Are Going to Sell Your House in Seaford

November 27, 2020

If you are going to sell your house in Seaford, know that it’s always wonderful to receive an
offer. In addition, it’s even better when you receive multiple offers!

However, with many offers that may present themselves as you sell your house in Seaford, how
do you know which one is best for you?

Knowing which mortgage is best when accepting an offer is certainly of importance! That’s why,
here at Kim Holland Homes, as Massapequa realtors, we have gathered some tips to assist you
with making your decision. If you would like to learn what these tips are, be sure to read on:

● Consider the Down Payment: When weighing offers as you sell your house in Seaford,
you will want to consider the size of the Down Payment, which is the amount of money
that the buyer is offering when the sales agreement is signed, to show that they are
actually serious about the purchase. So, if the buyer tries to back out of an offer for no
good reason, the seller typically gets to keep part or all of the Down Payment.
Therefore, know that the higher the Earnest Money Deposit is, the stronger and more
serious the offer will be. However many factors also make the size of the Down Payment
irrelevant so keep reading!

● Consider the Contingencies: A contingency is a provision that must be met for the
transaction to go through, and basically all offers have them. A buyer that has a
contingency to sell their own home is one. When a buyer has to sell their own home to
purchase yours, you are counting on not only them but the buyer buying their house for
your sale to succeed. So, know that contracts with fewer contingencies are more likely
to reach closing, and in a timely manner. The most common contingencies are home
inspections, appraisals, and financing. You and your realtor will work together to
determine which contingencies you are comfortable agreeing to, so that you make the
right choice when offers start to come in.

● Consider the Closing Date. The closing date, or settlement, is the day where both the
buyer and seller finalize the paperwork. In general, it takes between 30 and 60 days to
complete the transaction, from accepting an offer, to closing. So, you will want to
consider whether or not you want a slow or quick closing date. If you have already
purchased your next home, you will obviously want to close as soon as possible. Or, you
may want to reside in your current home that you are selling for a specific amount of
time, for personal reasons. Therefore, you will want to consider the closing date that
your potential buyer has in mind. Also keep in mind the contract date is an estimate or
“on or about” for the closing.

Accepting the best offer if you plan to sell your home in Seaford is crucial! These are just a few
tips to assist you with making your choice.

Are you ready to put your own home on the market with a realtor in Massapequa, New York? If
so, please contact us here at Kim Holland Homes, as we are all set to assist you with doing so!