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How to Manage Offer To Purchase Real Estate

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In this video, Phil Spencer discusses how to evaluate an offer when selling your home. He emphasizes the importance of determining if the offer is sufficient and whether to accept it or wait for a better one. Drawing from his extensive experience in property deals, Spencer introduces a free home sellers toolkit available through his Move IQ platform, designed to assist sellers step by step through the selling process. He encourages viewers to click the alert bell for updates on home-related information. Spencer advises homeowners to assess the offer based on prior valuations from multiple agents and personal research on comparable properties sold recently, leading to an informed decision.

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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How many times should you counter offer on a house?

When it comes to counter offers in real estate, theres no set number that constitutes the norm. A buyer and seller could go back and forth with one or many. But in most cases, there are only so many counter offers a potential buyer and seller will make before a real estate transaction just falls through.

How can you tell a scammer from real estate?

The following warning signs may indicate a real estate scam: Lack Of Proper Documentation. If youre looking to buy a home and the seller lacks the necessary paperwork, this is a huge red flag. Pressure To Act Immediately. Unrealistic Guarantees. Demands To Wire Money.

How do you handle highest and best offer?

How to Win Highest and Best Offer Situations Offer More Money. Pay in Cash. Get Pre-Approved. Add an Escalation Clause. Minimize Contingencies. Be Flexible on the Closing Date. Write a Personal Letter. Work with an Experienced Realtor.

What is unsolicited offer?

Meaning of unsolicited offer in English an offer to buy a company or property that its owners did not ask for: They made an unsolicited offer of $3.3 billion.

How do I stop someone from offering to buy a house?

Knuth recommends the Do Not Call Registry is another way to cut back on unsolicited offers. If the offer comes from a local buyer or real estate agent, a reply is appreciated. A polite, Thank you, Im not interested at this time usually is the response, says Lacerte.

What happens if the buyers change their mind after having an offer accepted?

Backing out of an offer for a non-contingent reason means you risk losing your earnest money. Since you put that money down based on the promise that you would follow through with the contract, backing out for any reason thats not outlined in the agreement means the seller is legally permitted to keep your money.

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Manage Offer To Purchase Real Estate