Four Ways Home Sellers Can Respond To A Purchase Offer

Wilmington NC real estateWhen a home is for sale, a homebuyer who wants to purchase the property will submit a purchase offer to the seller. The offer is valid for a specified amount of time.

Sellers can do one of four things with the contract:

1. Accept contract as-is.

The seller agrees to the offered price and terms and signs the contract. Next step is for buyer to proceed to get closed/settled on home (arrange inspections, finalize financing, etc.).

2. Counter contract with different price, terms, conditions.

Most often, sellers may take issue with the price and/or terms or conditions offered. To keep the negotiation going, sellers may counter on any part of the contract. Buyers should be prepared to accept the counteroffer or continue negotiating.

3. Reject contract in its entirety.

It’s possible that the purchase offer is too unrealistic (too low of a price offered, unrealistic terms, etc.) and the seller will choose to not counteroffer. Ensure that there is open communication between the real estate professionals representing each side to resurrect negotiations or submit a new, revised purchase offer based on seller feedback.

4. Let the contract expire.

Very rarely would a motivated seller allow a contract to expire. Again, make sure the lines of communication are clear between the real estate professionals involved if this appears likely.

Let us help. kaybakerassociates@ec.rr.com or http://www.cbbaker.com

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So you think you want to sell your home | Be prepared | Wilmington NC real estate

If you are thinking about selling your home, make sure you do your homework first.  There are things that you can do months before hand that will make the home selling process smoother.

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Be Prepared When Selling Your Home

Thinking about selling? In that time period leading up to actually putting your home on the market, you can do a number of things to get your home in shape so buyers will love what they see and want to move in fast! Prioritizing what needs to get done first can be overwhelming.
Here’s a guide to help you get your home ready to sell any time of the year.

 

Three to six months from listing:

  • Get a home inspection from a licensed home inspector. (Call us for recommended local inspectors.)
  • Use the checklist from the inspection as your to-do list and fix all problems.
  • Arrange for estimates or plan to do the work yourself to paint rooms with neutral colors.
  • If you’re considering bathroom or kitchen remodeling of any size, now is the time to undertake it, but beware of over-improving or updating with polarizing styles.

 

 

One to three months from listing:

  • Clear out closets, cabinets and drawers and be ruthless in your quest to de-clutter.
  • Remove from display all personal items such as photographs, certificates, trophies, diplomas, etc.
  • If necessary, rent a storage unit to store excess furniture and belongings that clutter your home.
  • Clear out the basement, garage, shed and attic — spaces that are often forgotten but full of stuff.
  • Power wash the outside of your home (siding, patios, driveways, etc.) or hire a service to do the work for you.
  • Take a tour of local homes that are currently for sale to see how they compare with your home.
  • Concentrate on curb-appeal landscaping from tree/bush trimming to greening the landscape to sprucing up the entrance.

 

One month or less from listing:

  • Revisit your entire home with a buyer’s eye in mind and touch up any small fix-ups and upgrades.
  • After your complete de-cluttering, contact a professional home stager to make each room in your home inviting to buyers.
  • Get carpets professionally cleaned.
  • Wash windows — inside and out — or hire it out.
  • Secure a safe location for pet(s) to be left during showings or find a friend who will take your pet(s) while your home is on the market.
  • Adhere to a regular cleaning schedule, or hire a service to do basic cleaning.

 

First day on the market, broker open house and open houses:

  • Put out a bowl of fruit, fresh flowers and/or bake cookies that day to give your home a homey feel.
  • Open all shades and curtains and turn on lights in every room to ensure your home is bright.
  • Make sure you and your family leave the home for all showings, so plan some outings, visits or errands when needed.

For more selling advice, please visist www.cbbaker.com . Questions? Give us a call 910-202-3607 or kaybaker@ec.rr.com