If you are selling your home, especially in the market we are in right now the homeowner has the upper hand. Offers are coming in above asking and buyers are waiving inspections amongst other terms that usually are a contract staple! It’s a great time to sell your home on Long Island, New York.
Making sure that you choose the best offer that will meet your financial needs or your timeline is why you hire a listing agent to guide you through the sale of your home. Always getting advice from a professional in the field you need goes for any scenario in your life!
Are you aware of how to accept an offer on your own home? If not, you are in luck, as here at Kim Holland Homes, as Massapequa realtors, we have gathered some helpful insight so that you can learn how to go about doing so. If you are all set to take in some great information, be sure to continue reading:
- Offer Presentation: When working with your listing agent, he or she should advise you that you can ask for different types of offer presentations. One way is to have all offers presented at the same time, while sitting down with you and going over all the details. A second way is to have the agent send them to you as they come in, one at a time so you see them all immediately. And the last one, which we have done for our homeowners, is providing a spreadsheet so you can see everything simply compared.
- Types of Offers: Offers that are getting a mortgage come in different types of loans. Examples of some types of loans are Conventional, FHA, VA and of their are always special grants and government programs. Additionally someone may be paying cash. And another often forgotten point is verifying the down payment money.
- Terms: Along with the offer price and type of payment the buyer will use to purchase the home comes the terms. Here are some types of terms:
- Need to sell their home to purchase yours
- Need to get out of a rental property before purchasing your home
- Need to finance the closing costs and ask for a Seller’s Concession
- Flexible to close on your home at your convenience
- Their home is in contract with another buyer and they need to coordinate closing
- Types of Offers: Offers that are getting a mortgage come in different types of loans. Examples of some types of loans are Conventional, FHA, VA and of their are always special grants and government programs. Additionally someone may be paying cash.
- Decisions: Once the buyer and the seller have agreed on a price and terms, it’s time to move forward with the transaction. The next step in the process is to go under contract, meaning that both parties will need to sign documents that will note their intent to move forward, along with establishing a closing date, along with any other terms or conditions that are necessary to complete the deal. Then, the due diligence period will then take place, after the first ten days the home is under contract.
Accepting an offer on your home should be an exciting experience! We hope that this information has provided you with some helpful insight to assist you with selling your own home.
So, if you are all set to work with a realtor in Massapequa, New York, please take a moment to contact us here at Kim Holland Homes! Having sold a multitude of homes over many years, we would be excited with the opportunity to do the same with yours!