Selling Your Home:
When You Receive an Offer
-
Homewise
Congratulations! You just received an offer on your home. Now what? After you receive an offer, here’s what you should expect:
- Your Homewise REALTOR® will inform you when an offer is received.
- An appointment will be scheduled so that your REALTOR® can go over the offer with you in person.
- Your Homewise REALTOR® will review the offer and discuss the terms with you. You will receive an estimated closing cost sheet which will help you determine the estimated proceeds you can expect at closing.
- After the offer has been presented, you can:
- Accept the offer
- Make a counteroffer
- Submit an Invitation to Offer if multiple offers are received
- Reject the offer
- Even if rejected, all offers must be initialed to show that the offers have been presented.
- If you counteroffer, the buyer has the right to counteroffer your counter. This is the negotiation process.
- The negotiable items in the contract are:
- Purchase price
- Earnest money amount
- Title company
- Closing date
- Transaction deadlines (inspections, survey or Improvement Location Report, title commitment, HOA documents, or any other applicable deadlines)
- Home warranty
- Any items on Addendums
- What items come with the property
- Once all terms have been agreed to by all parties and all parties have signed the agreement, you are officially under contract!
- Your Homewise REALTOR® will provide you with an executed copy of the contract and all contract deadlines.
About the Author:
Homewise
Homewise helps create successful homeowners and strengthen neighborhoods in New Mexico. We do this through our comprehensive real estate and lending services designed to support working families and individuals. We are a nonprofit lender, also known as a Community Development Finance Institution (CDFI).
Looking for additional information about selling your home?
Talk to one of our experienced Realtors about selling your home with Homewise