Negotiations Contingencies And Accepting An Offer

Dated: May 24 2021

Views: 280

Negotiations & Accepting an Offer

An offer is NOT valid until it is in writing and signed by the buyer. When you receive an offer, make sure that you understand special clauses or sale contingencies. This gives the buyer the right to walk away with their earnest money if these clauses/contingencies are not met.

Common Sale Contingencies

Inspection Contingency

Most offers will be contingent upon a home inspection. If needed, the buyer (or agent) will ask for you to make repairs and/or credit the buyer for items found in the inspection.

Financing Contingency

Also called a "mortgage contingency", which gives the buyer time to apply for and obtain financing. Buyers also might request you to pay for their mortgage costs.

Appraisal Contingency

It is typical for lenders to want a home appraisal to ensure the home is valued at a minimum, specified amount.

Home Sale Contingency

The purchase of your home is contingent upon the sale of the buyer's home.

Keys to Remember!

If you accept an offer, make sure the buyer submits earnest money to title company ASAP

You can always make a counter offer before signing anything

If you sign it, it then becomes a legally binding contract.. so read everything twice

Any changes made to the contract require a written approval from all parties for the change to be valid

You always have the right to reject any offer without further consideration

Need legal counsel?

The real estate attorneys at Crawford Law LLC negotiate FSBO (For Sale By Owner) transactions, as well as home purchasers who are closing on a property on their own, but want to make sure their legal rights are protected.

FSBO Resources

FREE
  • Get access to free local resources to help you sell your home as well as professhionals to help form start to close!

  • Step-by-step Guide" to sell your home

  • Local market reports with email updates and comparable homes to yours

  • All Necessary Contracts & Disclosures

  • Access to local inspectors, appraisers, title companies, and more local pros

Full-Service Agent

$1.5%/Month
  • We do everything a 3% listing agent does, and a whole lot more.. for a whole lot less.

  • Create an enticing MLS listing with HD Photos, 3D Tours, floor-plans and more content buyers love to see

  • Provide maximum online exposure when posted on national websites like Zillow, Realtor.com, Redfin, Trulia and Facebook

  • Determine a competitive listing price so you get top dollar

  • Screen calls, schedule showings, and negotiate on your behalf

  • Prep contracts & disclosures to be signed digitally or in person for your convenience

  • Sell your home in the agreed upon time 100% guaranteed!

Flat-Fee Services

$295-895
  • Set your price, show your home, and save thousands with these flat-fee selling services!

  • MLS listing also posted on national websites like Zillow, Realtor.com, Redfin, and Trulia

  • Professional Photos, 3D Tours, Drone videos, Floor-plans, and more enticing content options

  • All Contracts & Disclosures

  • A la carte Realtor services to choose from

Blog author image

Tyler Finkler

Every home (and owner) is unique in its own way, but selling a home isn't rocket science! We live in a world where you can access ANYTHING at the tip of your fingers.. even homes for sale. When wo....

Latest Blog Posts

Planning For Unexpected Maintenance Issues

Unexpected home maintenance costs have the potential to derail your budget and deplete your savings account. Following are three tips to help you prepare for these unexpected expenses. Add home

Read More

Selling Your Home During The Holidays

Here are three points to consider when listing your home late in the year.Some buyers need to make a quick purchase before the end of the year due to a job transfer, estate settlement or other tax

Read More

Sep 28 2021 72551 1

The market in south Florida.....There is such a shortage of homes for sale I have to keep sending buyers home with no purchase.They keep coming back and by the time they arrive 75% of the homes I

Read More

Will Remote Work Increase Home Sales

Throughout the pandemic, approximately half of U.S. employees worked remotely at some point. The monumental task of migrating the workforce to home office was remarkably smooth. Overall, little work

Read More