Obtaining Mortgage LoansOffers for houses are written, sent, rewritten, and often written again. They contain final price the buyer will pay for the house and what the seller will take for it along with other issues that need to be outlined.

House Selling Tips – Mound TX: At some point in the sale of your house someone will come to you and give you an offer. What can you expect to be contained in the offer? There are a few different phases of offers that occur within a typical house sale. You’ll receive the original offer, make your counter offer, and they will counter your offer as a counter offer. Sounds a bit funny, but this is really how it works. It’s more like a negotiation process.

What can you expect to be contained in the offer?

The original offer will be the price the buyer is willing to buy your house for. Since it’s typical for a buyer to offer less than the asking price you put on the house, don’t be insulted. No one really pays sticker price for a house or a car at a dealership. It’s not personal. It’s simply negotiation until both parties are satisfied with a final agreement. Let’s say your house is listed for $300k. The offer might be for $270k. Now you have something to work with. Remember that an offer means someone likes your house well enough to have bothered working up an offer for you.

What you need to get for the house will depend on whether you will have much wiggle room in the final price. If you need to absolutely get no less than $290k in order to pay off your mortgage, keep that in mind when writing your counter offer. Your counter to their $270k should, in essence, be more than their offer, but a little less than your asking price originally was set at.

  • The original offer will be the price the buyer is willing to buy your house for.
  • It’s simply negotiation until both parties are satisfied with a final agreement.
  • Remember that an offer means someone likes your house well enough to have bothered working up an offer for you.

Offers don’t always necessary contain only monetary price for the house. They usually do contain other issues that might be of importance as well. For instance, the house you are selling is in great shape, but it could use a new heating and a/c unit. An upgrade would certainly be in order but you just didn’t want to replace it before you put the house on the market. You can use it now as a bargaining chip. If a new unit will cost 3,000k to replace, offer to knock an additional $1500 to $2000 off the price to give them some money to work with in making the replacement. If they insist that they won’t buy the house until the system is paid for or replaced, don’t quibble over small amounts, as houses are hard to sell these days. If you can afford it, place the discount in your final offer and you may have a sale.