Evaluating Offers

• Price
  How close is the offer to your asking price? Is the market strong – do you have a good chance of getting more if you want? Rare is the circumstance that buyers begin with their best offer; will they come up if you make a counter-offer?
  
• Contingencies
  Virtually all contracts have contingencies; many of these are expected and entirely reasonable. Beware the home sale contingency – frowned upon in today’s market and generally unacceptable. Often times, attorneys will handle contingencies during the attorney review period.
  
• Prequalified Buyers
  Presenting an offer from a buyer who has not been pre-qualified (not the same as pre-approved) is virtually unheard of. However, some pre-qualifications carry more weight than others, especially with many on-line mortgage companies competing for loans.
  
• Multiple Offers
  If you are fortunate enough to receive multiple offers, be sure to review each one carefully. Obviously, price is a major consideration, but it is not the only one. There are many factors at play in a multiple-offer situation; your agent can provide invaluable assistance in determining how to proceed.
  
• Negotiation
  Negotiation is very common in the real estate markets. When you receive an offer, you have three choices: accept it, reject it, or make a counter-offer. Most of the time, an agreement can be reached.