Listing your home in a seller's market? Now is truly the time to sell! Inventory is at historical lows, and there are many buyers who would love to call the Valley Home. This puts some sellers in a position to be fortunate enough to receive multiple offers. This is an ideal scenario for sellers for many obvious reasons. It could put you in a position to sell for more than your asking price, and it also gives you the flexibility to be selective.
However, when selecting an offer, the highest price might not be the best offer. In fact, offers consist of many different terms, and some may be more favorable to your particular situation. When evaluating multiple offers, be sure to consider the following factors with your Jones Group REALTOR®:
A buyer who is putting down all cash or a large down payment could present less risk than a buyer who is financing a mortgage. Regardless of what the buyer offers, they still will need to secure financing to close on the transaction. You and your Jones REALTOR® should carefully review a buyer's pre-approval letter before accepting the offer.
Buyers put down an earnest deposit with their offer to show they're serious about purchasing the property. The earnest deposit varies - earnest money protects you in the event the buyer decides to walk away for reasons not covered in the contract.
Inspection contingencies are usually a standard part of an offer. A home inspection is the most common contingency, but buyers may include others like radon testing, mold inspection, or sewer inspections. These contingencies give buyers the opportunity to back out or renegotiate based on the results of these inspections. If you have an offer from a buyer who is willing to waive the inspection contingency, it could lead to a quicker home sale. While we at Jones Group REALTORS® never encourage buyers to waive inspections, we are seeing more people do so to make their offer more attractive. Additionally, we are seeing some buyers have an inspection for informational purposes in that they will not renegotiate the price should any issues be discovered by their home inspector.
Many buyers include an appraisal contingency which allows them to back out or renegotiate if the home appraises for less than the asking price. Lenders typically won't finance more than the appraised value of the property. If the buyer is willing to waive the appraisal contingency, he or she is willing to pay the difference out of pocket.
Receiving multiple offers is a great situation, but it can add some additional complexities to your sale. At the end of the day, it's up to you to choose the right offer. Your Jones Group REALTOR® will educate you about the pros and cons associated with each one.
If you are interested in learning more about the value of your property in our market and the process of selling, whether it's this year or next, connect with the experience of a Jones Group REALTOR today.
We are delighted to welcome Jeanne Comeau to our Northampton Team at 238 Bridge Street!
When Jeanne Comeau left Maine to establish roots in Pioneer Valley, she brought a no-nonsense problem-solving background with her. Growing up, she was always the kid others approached when they couldn't quite figure something out, and that has remained true.
Jeanne worked for fifteen years in the information technology field before a complete renovation of her first home (a dilapidated farmhouse) inspired her to shift her career into the home building and design industry and to become a certified Building Analyst (BA). From managing projects for a national home renovation organization to advising local clients how to improve and sell their homes, Jeanne has established a long history of successfully helping clients make the best decisions they can about their homes.
Jeanne specializes in applying her expertise and market knowledge to negotiate any home transaction. Her background in technology helps to streamline the process of buying and selling, and her knowledge of homes, home renovations, and green building practices are integral to her success. Clients appreciate her tech-savvy buying and selling methods, her clear explanations of complex variables and choices, and her concise, grounded evaluations. Jeanne is known for her integrity, her ease in navigating the market, and her ability to help people feel comfortable and safe during what can be a stressful time.
From studs to shingles, systems to solutions, Jeanne knows homes and is excited to show clients the best Western Massachusetts has to offer.
Email Jeanne at firstname.lastname@example.org
Cell/Txt - 413-219-3744
Thinking of making a move in 2012? Is your current home feeling a little cramped, or are you ready for less upkeep and ready to downsize? Begin your search now and you will not only get a good sense of the exterior assets of the property, but also how you will live in the space during the winter months. Our Jones Group REALTORS® in our Northampton, Amherst and Belchertown offices are Buyer's agents and are ready to give you a tour! Find an agent. Just give us a call or go online and request a showing.