Ep. 41 - Part 2 of the Seller’s Side of the Real Estate Transaction

As a continuation to the seller’s side of the real estate transaction, we pick up from last week with this question: As a seller, have you ever received an offer and accepted it? This is an interesting question because accepting an offer might seem very simple, but it’s quite a complicated situation. Accept the offer? Think maybe as a seller your price is too low? Wait for a better offer, even if this amount is what you wanted, or more? Counter the offer? Negotiate on the phone or in writing?  You counter or sign the offer. If you sign the offer, it’s now called a contract. If you counter with changes, it starts over again like a volley and goes back to the buyer for them to accept your changes or not, or to make additional changes.  Once you have a contract, you go through inspection period where the buyer can get out for any reason. This is sometimes seen as a negotiating period where a buyer will try to renegotiate the price based upon what the inspection says.  There’s lots of the things that could “go wrong” as the transaction goes from contract to closed. Aside from all of the title and financing moving parts, what does the seller have to do? There’s the walk-through. Do you have to have the property professionally cleaned? Or deep-cleaned? What does this mean?  What should the seller leave for the buyer? What did we miss? Let us know if you’ve ever accepted the first offer. And also, do you have a deep-clean or broom-swept horror story? (Everyone does!)