It is normal to want to accept the highest offer for your house, especially if it is higher than your listed price. However, do not proceed without first reviewing the terms. Most offers have contingencies, which are clauses in your contracts that allow either as the buyer or seller to abandon the arrangement if certain conditions are not satisfied. Check with website https://www.soldsimpleseattle.com/ . The following are some examples of stipulations that a buyer could put in their offer:
- Contingency funding: A finance contingency enables a buyer to withdraw their offer if they are unable to obtain a mortgage. As a seller, if you accept this condition, you risk losing time having to relist your house and restart the process.
- Contingency for home sale: The house sale contingency allows a buyer to verify that they will obtain the money from their current property before purchasing yours. The danger here is that the buyer’s timeline does not coincide with yours, or that the buyer is unable to sell their house, allowing them to walk away.
- Contingency plan for inspection: The inspection contingency allows the buyer to begin negotiations for repairs, request a closing date delay, or even withdraw their offer if the house inspection reveals any severe flaws that were not disclosed. Know more about it in https://www.soldsimpleseattle.com/
If there isn’t much competition for your house, buyers may want additional stipulations because they are less likely to have their offer rejected. Based on the circumstances, the greatest offer may not return the most money, specifically if the closing timeframe does not coincide with yours.