Comments on: Sellers looking at Contract Terms

By: Jean Joh

Jean Joh — Wed, 11 Mar 2009 07:58:39 +0000

Great points on what sellers are looking for – sometimes, price is not the only consideration. Buyers need to make sure to work with agents who can help them present their offers in the best way possible.

Rob, good note about Buyer’s remorse and the need for earnest money. There’s a good reason why it’s also called a “good faith” deposit, as it helps show how serious a Buyer is.

By: Shokoofeh Nowbakht

Shokoofeh Nowbakht — Wed, 18 Feb 2009 23:07:23 +0000

Rob Cook, you’re so right about the 3 minutes. One of my clients made an offer on a property yesterday. He was getting doubts as he was signing the deposit check. We then heard that the listing agent is expecting an all cash offer. My buyers doubts went out the door and now he is fighting to get that property before the cash offer gets in.

By: Rob Cook

Rob Cook — Wed, 18 Feb 2009 18:49:17 +0000

That good ol’ Buyer’s Remorse kicks in about three minutes after the contract is accepted. It is a powerful force, known the convert normally rational folks into hideous, no-holds-barred, contract killers. Earnest money, and plenty of it, is a must! Anybody seeking to lock a home under contract with less than stellar earnest money may as well save the ink they are putting to paper when writing the offer to purchase.

By: Adam Chinn

Adam Chinn — Mon, 16 Feb 2009 20:30:33 +0000

Great points Shokoofeh, I agree with Michael when he said, “one only needs to remember the three things that matter to a seller, Price, Time and Convenience”. If you are able to find out which is most important to everyone it makes things a lot smoother.

By: Annie Chang

Annie Chang — Wed, 11 Feb 2009 00:17:35 +0000

Hi Shokoofeh, great advice for buyers (and their buyer’s agents) who are serious about making the purchase. In a market in which many external reasons could break a deal, sellers may be more attracted to offers that present to be clean and straightforward than just the price.

By: Larry Franzella

Larry Franzella — Tue, 10 Feb 2009 23:00:27 +0000

The way an offer is structured can make a total differance. A number of times I have seen a lower priced offer accepted because of the other terms.

By: Brian Boisson

Brian Boisson — Tue, 10 Feb 2009 17:19:38 +0000

Shokoofeh,

Excellent points in that the contract that can actually close is the most valuable to the seller
and buyer in any transaction.

Brian

By: Michael Monozon

Michael Monozon — Tue, 10 Feb 2009 17:01:50 +0000

Great points Shokoofeh, one only needs to remember the three things that matter to a seller, Price, Time and Convenience, one of the three will be the primary motivator, and in todays market price is not always #1.