USING CREATIVE NEGOTIATIONS
If a Buyer has an 850 Credit Score, 45% down payment and does not have to sell a home, his/her offer on your home may be a strong one! However, many Buyers are not in this situation. And while as a Seller you would like to get your asking price, on a cash deal with no contingencies, an experienced listing agent will prepare you for the possibility of receiving offers that involve less than ideal conditions and may require some compromise.
Experienced REALTORS® know how to structure creative offers to try to make an offer work, given that “a bird in the hand is worth more than two in the bush”. If a Buyer is low on cash, your Seller counter-offer may include some closing cost concessions to minimize the amount of cash the Buyer needs to close. If the Buyer needs to sell a home, your REALTOR® should ask to see their listing and talk to their listing agent to understand how “salable” and well priced their home is, plus include a “kick-out clause” which will allow you to force the Buyer to remove the contingency, or to rescind the contract if you receive an acceptable offer from another Buyer who does not need to sell first.
A lease purchase arrangement might be an effective way to structure a contract if a Buyer has recently changed jobs or became self-employed.
Short-term owner (Seller) financing for part of the loan can make a difference in some cases. For example, if the Buyer is a foreign national, and has the money to buy the home, but his/her funds have not yet been cleared as “seasoned” in a U.S. account for the period required by law.
If your REALTOR® brings you a complex offer designed to get a Buyer into your home, don't say "no" until you understand the offer, and explore all possible scenarios to make it work before you give up on it!
NEED TO SELL? Call The Alan Donald Real Estate Team at 843-900-0155. We get it done!