Posted in: Selling a home

Accepting an offer

Accepting an offer

There are certain things home sellers should consider when looking over an offer from a potential buyer.

The bidding price should be your main focus when deciding to accept a buyer’s proposal. If your home has a reasonable asking price, an offer that comes within 5 percent of the asking price you listed in typically considered a good offer. However, keep in mind that there are many things which can be negotiated - price is just one of them.

Additionally, look over the buyer's contingencies – what the buyer is willing to concede or add to the sale. Calculate the total cost of their additional requirements and determine how much that will take away from their offer. Then, ask yourself, "Is it worth it?"

Carefully review any stipulations a buyer makes in the contract. If you don't like the offer, but think the potential buyer may budge on a stipulation or contingency, consider making a counter-offer.

Throughout the process, your Edina Realty agent will be there to act as a trusted adviser. Your REALTOR® will provide knowledge and advice, while helping you to reach the ultimate goal of selling your home at a fair price.

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Status Definitions

For sale: Properties which are available for showings and purchase

Active contingent: Properties which are available for showing but are under contract with another buyer

Pending: Properties which are under contract with a buyer and are no longer available for showings

Sold: Properties on which the sale has closed.

Coming soon: Properties which will be on the market soon and are not available for showings.

Contingent and Pending statuses may not be available for all listings