If you’re selling your Austin home, it can be exciting to receive an offer — especially when it’s the first one. Try to keep your emotions in check and look at the offer with an objective eye. Ask your Austin real estate agent to run through it with you, especially if there are any points that are confusing. Here are 5 things to keep in mind when receiving an offer on your Austin home for sale.
1. Price – You probably already know what you need to have and would like to have for the sales price on your property. Don’t be surprised if the offer comes in low, and don’t take offense. While you should consider all reasonable offers, you don’t have to give it away simply because someone hopes you will. Prepare a counter-offer. Also consider how far you are willing to go with an interested buyer that may have limitations on financing, closing costs or earnest money.
2. Dates – Look at the closing date. If it is not in the right time frame for your plans, there may be some wiggle room where other arrangements can be made. Also look for an expiration date on how long the offer is available. Try not to wait until the last minute to accept the offer or make a counter-offer.
3. Multiple Contracts – Before putting your home on the Austin MLS, or Multiple Listing Service, come up with a contingency plan for what you will do if you receive multiple contract offers.
4. Patience – Be prepared for it to take some time to receive an offer. Ideally, it will happen right away, but have a little patience and set some realistic goals.
5. Contingencies – In a perfect world, homebuyers will give you exactly what you want for your home, no questions asked, no delays, no problems. In reality, either side may add contingencies to protect themselves in the event of a snag. Of course, this could be a deal-breaker, so consider it carefully.
When it’s time to settle on a contract, read it over for any typos or inaccuracies. Make sure you know what the agreement is and what it means before you sign.