Selling 101

Terms We Consider When We Review An Offer

Accepting the highest price might seem like the logical choice, but there are many factors to consider when reviewing an offer, and knowing your options allows you to come up with a plan that works best for you. Some things to consider:

Cash Offer

Some sellers accept a lower priced cash offer over a higher priced loan offer because there are typically less issues that come up, like for example a loan falling through. Consider your timeline and finances to evaluate if it is worth accepting a lower offer for a faster closing and often a much simpler process.

Closing Date

Some buyers may be looking to move in as soon as possible, while others may need more time in order to sell their own house. You may be able to select an offer based on a timeframe that works best for you, or you might have to be more flexible in order to close the deal.

Closing Costs

Closing costs fall under the buyer's list of expenses, but buyers may ask the seller to pay for a portion, or all of this expense, as part of the sale negotiation.

Contingency Clauses

A contingency clause is a qualifying factor that has to be met in order for the buyer to move forward with the sale. Contingency clauses often include details of financing, inspections and home sales, and the terms can be negotiated between the parties. The contingency allows the buyer to back out of the contract without penalty if the terms are not met.

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