Eden Homes LLC

Which Offer Should You Choose When Selling Your Home?

by Eden Homes 09/15/2019

When selling your home you may receive many offers from different buyers, but the smart move isn’t always to pick the highest bidder. Selling a home goes beyond just picking the largest dollar amount; there are other factors to consider while selling your house and how they influence your decision:

Contingencies

Most home-sale offers come with certain contingencies before they can go through. These contingencies are certain conditions that must take place within a specific time-frame for the sale to be successful. You should pick the offer with the least number of contingencies and the shortest periods stipulated. Typical contingencies include a home inspection, approval for a mortgage and the home appraisal. When there is an inspection contingency, the buyer can withdraw his offer depending on how the inspection goes. Financial contingencies also allow the buyer to stop the purchase if they do not get a mortgage approved early enough.

All-cash offers

The best kind of offer is one that is offering cash up front. The offer may not be the highest, but it is guaranteed to go through because you don’t have to worry about a bank financing application that may or may not be approved.

Buyer pre-approval

Few people can afford to pay cash upfront for your home. The next best set of people are those who already have a pre-approval letter from their lender. This letter means that they can get a loan whenever they are ready. A buyer with a pre-approval implies that they already have everything necessary to get a credit and so the process following the offer will not be as difficult as it is for someone without a pre-approval.

Loan type

There are many kinds of mortgages, and if a mortgage from a bank backs your buyer's offer, then it is not going to be complicated. If the buyer is using an FHA loan or another government-backed credit facility, it could become involved with more processes and requirements.

Closing timelines

Everyone wants to close the process as quickly as possible and move along to other things. If the buyer wants to close immediately or under thirty days, then that is the perfect situation. You could also need some time especially if you are buying another house and would like it to be ready before moving in. Work with the offer that offers you the best timelines for your plans.

Price matters, but a lot of other things matter too when considering offers for your home. Discuss these with your real estate agent to help you decide which offer will work best for you.

About the Author
Author

Eden Homes

About Simone Duhamel

 Simone Duhamel has been working as a Real estate agent since 1996 and has owned and run "Cobra Construction LLC" a builder of fine homes, since 2003.
Her clients come from a wide spectrum of needs and desires.
She has been a member of the Manchester Nashua Board of Realtors since 1996, and has worked diligently to establish good working relationships with a variety of professionals in the industry of home ownership.
 

*Graduate of Buyer Broker School of Real Estate.

*Graduate of Kathy Roosa School of Real Estate for sales and marketing.

*Member of the National Association of Realtor's.

*Bilingual, fluent in German.

*Member of the NNEREN (Northern New England Real Estate Network).

*Servicing from Laconia, to Nashua, east to west.

*Regional Member/Agent for HUD (Housing and Urban development) homes.

*Member of the Greater Manchester Nashua Board of Realtor s.

*On the Goffstown NH Planning board.

*Owner of Alpha and Omega Group since 2009. (Various Home services)

Mrs. Duhamel is a strong believer in Volunteer work and is therefore involved in multiple efforts to help those in need. 

In 2009 she founded "Chains of Freedom", in an effort to abolish modern day slavery/human trafficking.

This is a non-profit organization that diligently works on the funding of missionaries, one of the many organizations we support, is the well known "Salvation Army" that has made such tremendous strides 

for this cause in recent months...however they need continued funding in these efforts and we at "Chains of Freedom" seek to meet that need. 

About Samantha Mulvaney

Samantha Mulvaney acquired her Real Estate License in December of

2010. She is a graduate of Kathy Roosa (New England) School of

Real Estate. She has a strong background in mortgage lending and

financing with experience in the field for over five consecutive

years. Samantha is currently working toward her Bachelors degree

in Business Administration at Southern New Hampshire University.

She is excited to take on this new endeavor and will strive to

meet her client’s needs.