How to Recognize a Good Offer

Lou Cardillo Home Selling Team Real Estate Podcast

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How can you recognize an admirable offer on your listing? We receive multiple offers on our listings, and often have to sort through many offers to find the best one. When you dig a little deeper, you can start to recognize the signs of a good offer. Here’s what they are.

The first thing to look for is that the offer comes with a valid purchase agreement contract. The offer has to be in writing, with all the information on the buyer and their offer. If someone makes a cash offer, that’s great, but we’ll need to double check that their funds are valid.

Look for a letter of prequalification. If a buyer wants to put 20% down, they need to have that letter of qualification from a (reputable) lender to make sure they are going to cover the other 80% of the purchase price.

Watch out for any contingencies. When a buyer agrees to buy your home, but only on the condition that they sell their home first, that’s a huge red-flag. We try to avoid contingent offers if possible, but if you end up accepting one, we will go out to the buyer’s property and make sure they are pricing, marketing, and going about selling their home properly.

These are just a few of the things to look for to make sure you have a serious offer. If you have any questions for us, don’t hesitate to reach out. We would love to assist you!