Berkshire Hathaway EWM Realty.
Adelaida “Ady” M. Artime, P.A., Berkshire Hathaway EWM Realty.Phone: (786) 512-2467
Email: [email protected]

Factors to Consider Before You Accept an Offer to Purchase

by Adelaida “Ady” M. Artime, P.A. 01/17/2021

If you receive an offer to purchase your home, you may have only a limited amount of time to decide whether to accept this proposal. As such, there are several factors you'll want to consider to determine whether to approve an offer to purchase your home. These factors include:

1. The Price of Your Home

If you established a competitive initial asking price for your home, you should have no trouble determining whether an offer to purchase falls in line with your expectations. Thus, if an offer to purchase your home is at or above your residence's initial asking price, you may want to accept a buyer's proposal and move forward with a house sale.

Of course, if an offer to purchase your house falls below your residence's initial asking price, you should still evaluate the proposal closely. If you feel the offer to purchase is the best proposal you might receive, you may want to accept it.

2. The Current State of the Local Housing Market

Examine the current state of the local housing market – you'll be glad you did. If you discover you are operating in a buyer's or seller's market, you can assess an offer to purchase your home accordingly.

If you find a buyer's market is in place, you may be more inclined than ever before to accept a competitive offer to purchase your home. Because in this market, the number of sellers exceeds the number of buyers, and rejecting a homebuying proposal does not guarantee you will receive better offers to purchase in the near future.

Comparatively, if a seller's market is in place, you may want to take a wait-and-see approach to any offers to purchase your residence. In this market, the number of buyers exceeds the number of quality houses available. As a result, you may receive dozens of offers to acquire your residence if you wait for the local housing market to develop.

3. Your Home Selling Goals

You should feel good about accepting an offer to purchase your house. Therefore, if an offer to purchase enables you to achieve your home selling goals, you may want to accept it sooner rather than later. By doing so, you can take the next step to finalize your house sale.

As you debate how to proceed with an offer to purchase your house, you may want to consult with a real estate agent too. This housing market professional may be able to offer housing market insights that you won't find anywhere else. Plus, he or she can provide honest, unbiased home selling recommendations. And if you ultimately decide to accept an offer to purchase your residence, a real estate agent can guide you along the final stages of the property selling journey.

There is no reason to settle for a subpar offer to purchase your house. But if you consider the aforementioned factors, you can make an informed decision about whether to accept, reject or counter a homebuying proposal.

About the Author
Author

Adelaida “Ady” M. Artime, P.A.

In her role as a real estate and relocation specialist in South Florida and Northern Virginia, Ady Artime prides herself on providing the highest level of service, confidentiality and professionalism to her clients. Based on her own experience as a government liaison, Ady is in familiar territory working with high powered individuals. She possesses a discreet and confidential work ethic, and her keen eye, attention to detail, and experience with multi-million dollar properties have earned her a high-profile, loyal clientele that expect the best from their realtor.

Known for her expertise and strong background in interior design, she stands out from other real estate agents. When a satisfied client says that Ady knows real estate "inside and out", the statement is to be taken literally. Over the course of her career, she has received recognition as an award-winning interior designer. She has designed and implemented interiors for countless luxury projects throughout the United States, and Europe. Her extensive knowledge of all facets of design, including working with architects and construction teams, led to a natural progression into the real estate arena and gives her a definite edge over the competition in serving her clients.

As and agent in South Florida and North Virginia, Ady lends her real estate expertise and design savvy to buyers and sellers. Ady's mission is to develop a faithful, repeat clientele by providing them with superior service and value. She is passionate about her work and takes the time to understand each client's needs and goals to accurately assess the options she provides. From overseeing the staging of a listed property in order to fetch the highest possible price to analyzing a potential purchase from a design and architectural perspective.