The price is not always right.
“The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons. There’s more to an offer than the initial offer amount. Loan type, settlement date, due diligence time period, due diligence and earnest money deposit amounts, attorney selected, whether another house has to be sold in order to purchase yours and the list goes on. Rest assured that we are working to get you the best offer possible and will be prepared to have transparent and honest conversations about possible offers and help you determine what’s right for you. We will also encourage you to only consider accepting an offer that is submitted with a pre-approval or proof of funds. Without this crucial information, it makes it difficult to verify that someone has their financing in place.
Negotiating the right way.
We take the ethical responsibility of fairly negotiating contractual terms very seriously. It is our job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before deciding which is the most suitable for you – and as your real estate professional, we will guarantee a thorough and objective assessment of each offer to help you make the right choice for you.
The initial agreement and deposit.
An executed contract is a legal arrangement between the purchaser and the seller. In North Carolina, this agreement must be reduced to writing and signed and communicated to all parties. Some important tips to keep in mind to streamline the process:
- Keep written records of everything. We will use conference calls, group texts and group emails for most of our communication, so that no purchaser/decision maker is left out of the process. Any counter offers, addendums, etc will be reduced to writing and all parties will sign once an agreement has been reached. We will assist with and provide paperwork necessary to accomplish these steps and make sure you have copies of everything.
- Stick to the schedule.
Now that you have chosen an offer, you and the buyer will be given a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of their agreements. During the process we will keep you constantly updated so you will always be prepared for the next step.
The closing process.
When a buyer submits an offer, typically the escrow agent is selected. Here in North Carolina, that typically is the closing attorney. Many times sellers elect to use the same attorney for ease, but you are not required. The closing attorney will be the one to hold the earnest money deposit in escrow. Their job is to examine and insure clear title to real estate. After researching the complete recorded history of your property, they will certify that 1) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and 2) all new encumbrances are duly included in the title. There will be some seller information to provide to the paralegal which we’ll be sure to send your way ASAP via Docusign.