So you've gotten all of your to-do list items completed and placed your Gilbert, Arizona home for sale on the market with Zion Realty. You've had several people walk through your home and show interest in making an offer. Well, what happens when the offers finally start coming in? Shouldn't this decision be easy? Isn't the highest offer always the best offer to take? The short answer is No, the most money being offered for your home isn't always the offer you should choose. There are many factors that come into play when choosing the right offer for your home:
1. What type of loan does the buyer have? Is the buyer using a Conventional loan, a VA loan, or an FHA loan? Is the buyer offering cash to purchase your home? Every loan has stipulations, restrictions, and sometimes required contributions by the seller.
2. How much is the buyer asking you to contribute? If the buyer is using any type of financing, chances are they are going to ask you to contribute money towards their closing costs and loan fees. How much of your profit margin are you willing to give up to the seller to help them buy your home?
3. Are there any contingencies? Is the buyers purchase of your home dependent upon other circumstances. For example, do they themselves have a home on the market that needs to sell first before they can move forward with the purchase of your home? Are they an out-of-state buyer and their offer is contingent upon the finalization of a job transfer?
4. What is the requested Close of Escrow? Are you in a hurry to move? Is time a factor in your decision to sell your home? All things considered, the time it takes to close a real estate transaction can vary from 4-6 weeks or perhaps a little longer if you hit a few bumps along the way. What time frame is the buyer stating they are able to complete the purchase transaction? Are they asking for a Close of Escrow date that is 60 days away? 90 days away? Make sure you can live with the allotted amount of time the buyer is requesting you give them to close on the purchase of your home.
These and many other factors play an important part of accepting the right offer for your home. Zion Realty will help you make the right decision for you and your family when it comes to selling your home here in Gilbert, Arizona. Contact us today for a free home evaluation and market analysis.