You Received an Offer on Your Harris County Home. What Now?

March 12, 2018

You Received an Offer on Your Harris County Home. What Now?

You made the decision to sell your home. You did the hard work of determining an asking price, listing it online, and staging the house to look its best. People attended your open house, found your listing, and scheduled some showings. Now someone has made an offer. This is exciting news, but the process is not over yet. Before you sign a contract, make sure you complete the following steps so you make the best decision you can.

Take a careful look at the offer

Pay attention to what terms the buyer gives in the contract. Are they offering to buy your house as long as you replace the cracked pane of glass beside your front door? That’s an extra expense for you, but it still might be a good deal. On the other hand, you might have hoped for a larger offer, but if the buyer is willing to cover some repairs himself it could be worth taking. If their offer is similar or the same as your asking price, that just means you did well pricing the house originally.

Decide whether to accept, make a counteroffer, or reject

You might accept an offer for a number of reasons, like your timeline, your financial situation, or the amount of interest shown in your house thus far. If the buyer seems reasonable but the deal they offer is not, you should consider making a counteroffer. Take their concerns into account and try to come up with a middle ground. Know ahead of time where you’re willing to bend and what is non-negotiable.

 

Finally, don’t be afraid to reject an offer if it is in your best interest. You have no way of knowing who else might make an offer in the near future.

Respond quickly

Keep in mind that the buyer can withdraw his or her offer any time, and make it a goal to respond promptly. Instead of verbally negotiating, send counteroffers as written contracts to let the buyer know you’re taking the process seriously. This can also protect you from buyers changing their conditions later.

 

Don’t be offended if you receive an especially low offer. There are many reasons a buyer do this, and sometimes you can negotiate with them for a more reasonable price. If you chose not to, it’s still a good opportunity to review the steps you took in setting your price. Did you consider comparable houses in the area? Did you take the time to fix up your house and stage it to look its best? Did you consider factors like location and neighborhood? If so, feel free to reject unnecessarily low offers with a clear conscience.

Hire a Real Estate Agent

A real estate agent can review and finalize your contract. They are trained and experienced to navigate things like down payments, dealing with the buyer’s agent and/or inspector, and understanding what is realistic as you negotiate. Often a real estate agent can also recommend local businesses that can make the needed repairs or help decorate your house before showings.

 

If you’re ready to sell your Harris County house, contact us today to help you navigate the process. Selling your house presents some unique challenges, but we’re eager to walk by you and make it as smooth as possible.

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