Receiving an offer can be both exciting and overwhelming for a Seller. The main questions I get from Sellers prior to acceptance of an offer are:
Can the Buyers close on the sale sooner or later than shown date on the offer? The timeline for a residential real estate sale can vary from weeks to months. Depending on the Sellers next chapter, this could mean that they wish to close as soon as possible in order to redeem any proceeds from the sale or that they wish to have a slower closing in order to secure their next property. The options are plentiful and it is transaction based.
Is the offer contingent on an appraisal? Sellers want to know how much money they are walking away with, if any, on closing day. An appraisal can often times put a hiccup in the closing process and change the amount they had assumed they would be owing or receiving weeks after an accepted offer. This limits a Seller's timeline and financial ability to plan for any future endeavors.
Do we know anything about the Buyers or party presenting the offer? Real estate can be a very personal process. If it is a residential home, some Sellers want to envision who will take their place. If it is an investment, some Sellers want to make sure the Buyers are financially capable of closing the deal. And, if it is a second home, some Sellers want to build a relationship with the new Owners in order to potentially revisit the property at a later date. Real estate is about the people and the lives they lead in it!
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