Receiving offers on your home. Once we get offers on your home is when the fun begins. It can be stressful if you don’t receive the amount of offers that you were hoping for, but don’t worry, that’s why you hire a good negotiator like myself.
Hi, I’m Krista, owner/broker of Homes By Krista. I’m a Master Certified Negotiation Expert. There are only 1% of agents across the nation that have this credential, which I find alarming because knowing how to properly negotiate on your behalf is essential to not only getting you the most amount of money on your home, but also getting you the best terms. Once you receive offers on your home, there are a few essential components that need to be done prior to meeting with you to discuss the offer. We vet all the buyers by calling the agent and the lender and making sure if the buyer is truly qualified to purchase your home. We verify funds. We ask crucial questions to find out about how motivated and in love the buyer is with your property, and so on and so on.
During this process, we also get to learn about the buyer’s agent and the lender to see how much experience they have, if they’ve properly educated the buyer and given them an idea of exactly what’s going to happen next. It also gives us a great idea to see how compatible the other agent and lender are going to be. Believe it or not, the buyer’s agent and lender is just as important to ensuring the deal will close as the buyer’s qualification. After vetting the buyer and their realtor and the lender, then we’ll meet with you to discuss the offer and review the terms. We’ll give you our advice on the offers in regards to the pros and cons of each, but ultimately the decision is up to you as to which offer that you take or which offer that you counter.
Now, what happens if we have more than one offer? It’s a totally different process that we go through. We give an offer deadline date, and then we counter all the offers to give us their highest and best offer prior to even meeting with you. Once we have those, we meet with you to discuss which of the offers that you would like to counter. Now generally, this gives us an opportunity to get a higher price from the buyer and better terms for you because we’re picking from the cream of the crop, if that makes sense. At this time, the buyers can choose to either accept our terms or to counter us back. You have the opportunity to choose which offer you would like to take at this time, and again, we’ll advise you as to the pros and cons of each, but ultimately it’s up to you.
Once we come to terms, we are now officially in escrow, so watch the next video to talk about timeline so you’ll know what to expect, and understand that in most cases if you’re dealing with a loan, the average timeframe to close on a home with a loan is about 30 days, give or take. If you’re dealing with cash, you can close in as little as three days, but most realistically it’s around seven. Look out for the next video, and as always, if you’d like to learn more, just give us a call at Homes By Krista. Make it a great home selling and buying day.