Question:
“Hi Gary. I know you have a lot of experience. Suppose you have multiple offers on a home you’re selling. Other than price, what do you look for to decide which offer to accept?”
Answer:
Excellent question, because there is much more to an offer than price.
I also look at:
- Any costs the seller is asked to pay
- Escrow period
- Initial “earnest money” deposit
- Down payment amount
- Buyer’s qualifications
And I look hard at two things others might not:
- Reputation and experience of the agent
- Reputation and experience of the buyer’s lender
As I often say in this newsletter, it’s WAY too easy to get a real estate license. So in representing my seller, I feel more secure if the agent is experienced or on an experienced team.
And for lenders, I’m very wary of prequalification or pre-approval letters from lenders I never heard of. Too many lenders will write such letters without doing their homework. Then they drop the ball and have the escrow delay or fall through entirely.
