When selling your Northwestern Wisconsin home, you want the best sales price. But you also want a deal that will close! Here’s a few pointers on evaluating purchase offers.
First, decide what is most important to you in the sale. Getting the highest price? Getting a fast closing? Or having the ability to remain in the property after closing?
Next, besides the price, consider the strength of the offer in the following:
- Amount of earnest money deposit
- Amount of down payment
- Type of mortgage and mortgage pre-approval status
- Buyer contingencies
The more cash in the deal, the more prepared the buyer is financially. Buyers with lean earnest money and a low down payment may be less equipped to handle unexpected snags.
The buyer’s financing could also affect your closing. FHA and VA mortgages have specific home inspection criteria, and require FHA and VA certified appraisers. This can mean more chances for problems and a longer timeline for closing. Conventional mortgages have less red tape and tend to close sooner.
Buyer contingencies need careful review. A couple of contingencies are reasonable. But when there are several contingencies from the buyer, it doesn’t show confidence. The more escape hatches the buyer has, the less likely the closing becomes.
When you are selling Northwestern Wisconsin real estate, we will help you obtain top-dollar offers, and explain the merits of the offers you receive. Our 40 years of experience will be your advantage! Call us today for your free market value consultation, and see what your home is worth!
John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com
