The Home Selling Process
Step 5: Accepting an Offer
Depending on market conditions, you may get an offer the day you list, or you may have to wait to get one.
Here are a few tips to remember once you get an offer.
- Take Your Time. Don’t get in such a rush or panic that you settle for getting the offer terms by fax or phone. Make sure you sit down with your agent so that you understand the terms and what the offer really says.
- Determine what your bottom dollar is and never share it with any one. Compare each offer to that amount and realize that your bottom price may change as you become more familiar with the market.
- Don’t take any offer personally. Your house is just one house that is on the market. Buyers scour the market for great deals and sometimes present low-ball offers. Do not take any offer as a personal insult.
- Don’t hesitate to counteroffer. Even when you get a low-ball offer or one that you are unwilling to accept, don’t hesitate to counter. Sometimes buyers will respond positively to a counter because they are encouraged you are willing to negotiate.
