How to Recognize a Good Offer on Your Home

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Hey there, welcome back to our blog. As a seller, how exactly do you recognize a great offer on your home? Well, there are a few tips and tricks we have picked up we would like to share with you. 

The first thing to do when an offer comes in is make sure that all the signatures and initials are there to make it a valid contract that could close if you were to sign it. 

The second thing to look at is if the buyer is qualified and with a reputable lender. Make sure that pre-approval they have is a real pre-approval and not conditional. Also contact their lender, and do some research to make sure that they are reputable. 

The next thing to do is look at how much money the buyer is prepared to put down on your home. The more they put down, the better their buying power. It also helps you as the seller feel more confident with their purchase. 

Earnest money is another thing to look at. Typically, it's 1% of the purchase price, but more earnest money means more strength from the buyer.

As the market starts to soften you will see buyers out there looking to sell their current home before they purchase a new one. Make sure the offer you get isn't contingent on the buyer selling their home first.

Finally, take a look at the buyer's financial history. This will help you to determine if they are going to afford payments and make them on time. 

There you have it, the things to look for in an offer. Thanks for joining us today, we hope to see you soon. If you have any questions at all, feel free to let us know. Give us a call or send us an email and we will get right back to you.