Downers Grove Realtor Shares on Evaluating Offers

It might be surprising to some, but the best offer is not always the one that gives the highest price. There are several factors to consider when you get offers on your house. We recommend working with a professional real estate agent that will be able to use their knowledge and experience in identifying the best potential buyers. Here are a few tips about evaluating offers from Downers Grove Realtor Beata Kolpek.

Identifying a Good Potential Buyer

Not all buyers that make an offer will actually make it through closing. For this reason, you’ll want to use some discernment when considering which offers to act on. In general, a good buyer will display some of these qualities:

• Has seen the home several times
• Knows you and your Realtor
• Has a Realtor themselves
• Is pre-approved for a mortgage

The best buyer is often the first one to see the home. As a Downers Grove Realtor, working with buyers and sellers means being able to discern who is most likely to actually make it to closing. Lean on your real estate agent for this wisdom.

The Financial Aspects

Make sure that the price at which you set your house, and the offers you get, parallels those of similar homes that have sold recently in your area. Don’t consider offers that are significantly less than this local standard.  Also, if the offer comes with earnest money (basically a deposit) that is a decent amount, chances are the buyer is serious. Experience as a Downers Grove Realtor has shown that this can be anywhere from one to ten percent of the selling price. Again, the higher the greater potential of commitment. Last, if the offer has the buyer paying for costs that might typically paid by you, the result could be more money in your pocket than an offer with a higher price. These types of costs are:

• Closing costs
• Lawyer fees
• Realtor commission
• Home inspection
• Title search
• Taxes

What’s the Deal?

One final consideration: what exactly is included in the house? Is the refrigerator staying? How about the dishwasher? Every item like these should be included in the selling price. It is details like these that a seasoned real estate agent will be able to identify and negotiate. For all your real estate needs, consult Downers Grove Realtor Beata Kolpek today!