OFFERS
In this market, sellers often have several offers to choose from. Price is just one of their considerations. Here are some of the other factors that matter.
A cash offer is usually more appealing than a finance offer as the seller doesn’t need to worry about the bank approving the loan. ALL CASH BUYER A conventional loan is often the least complicated. This is an appealing choice for sellers. FHA, VA and USDA loans can cause delays because they require certain repairs and approvals. LOAN TYPE Assures home sellers that the buyer can get the loan they need. Using a local lender, with a solid reputation for closing on time, can also be a valuable asset. PRE-APPROVAL DUE DILIGENCE PERIOD A negotiable period of time, usually 2-3 weeks, to complete inspections, appraisal and discover any issues that would prevent you from moving forward with the sale. During this time, you have the option of terminating the contract "for any or no reason at all". DUE DILIGENCE FEE Non-refundable "option money" that's due immediately if the seller accepts your offer. If you cancel the contract, the seller gets to keep the due diligence fee. If you complete the sale, this will be credited toward the purchase price. Generally, a minimum of 3-4 weeks when financing is involved and 2-3 weeks for a cash purchase. Some sellers may need more time to move. The more we can accomodate the seller, the more favorable your offer will appear. CLOSING TIMELINE We can ask the seller to help pay some of your closing costs and/or provide a home warranty. However, sellers typically prefer a "clean, straight-forward" offer. CLOSING COSTS Of course, price matters too! We will consider the seller's asking price, time on market, condition, upgrades and comparable sales. In this market, it is not uncommon for seller's to receive offers well-above their asking price. OFFER PRICE
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