Understanding a purchase offer

Understanding a purchase offer can be tricky. When reading an offer, keep in mind that you are out to get the best price AND the best terms for you.

If you focus solely on the price, you may overlook terms that could be favorable to you as a seller. In Atlanta especially, you may have several purchase offers come in at one time. While exciting, be sure to weigh their differences.

Here are some terms that may work in your favor:

higher-than-market-interest in a second mortgage for your home
the buyer will pay for most or all of the closing costs
the buyer will take care of any repairs
quick close – the buyer is pre-approved and ready to close in a timeframe that best suits you
all-cash deal

When reading through offers, remember to look at the whole package. Take the time that you need to assess what is being offered and if it meets your needs.

Written by Patricia Eubanks, Vice President