Once we have determined value, we are ready to put together an offer. An offer has three primary components:
- Price: Price is the most important element of an offer. Naturally, the seller wants as much money as possible.
- Terms: Contingencies to be considered: preliminary title report, natural hazards, environmental issues, city building records, condominium disclosures (where applicable), tenants rights considerations (where applicable), income and expense disclosures (where applicable). We navigate our buyers through these complex issues. Typically the main contingencies are (1) Financing/Appraisal, (2) Pest and Contractors Inspections, (3) Date to Close Escrow. All of these contingencies must be carefully considered. In addition, possible seller rent-backs, and other issues can play a roll.
- Buyer Credibility: In addition to price, a seller wants assurance that the escrow will close. The Bartletts will present the offer in the best possible light demonstrating intent to preform and capability to do so. The Bartletts are known to preform.
- Emotions: When price and terms are competitive, knowing the buyers’s story and the reputation of the buyer’s agent can make a difference to a seller. Bartlett buyers are well-represented.
Once the offer has been submitted, there are four possible outcomes:
- Counter Offer: The seller counters the buyer on price and/or one or more terms.
- Multiple Counter Offer: The seller counters more than one buyer simultaneously.
It remains the seller’s decision which buyer they ultimately choose.
The bottom line is: you need real estate agents who are experienced, intelligent, respected, and trustworthy.