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403-970-5397
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CENTURIAN AWARD WINNER


$225,000 - $450,000
GCC or 65 award units
within a calendar year
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Offer Basics and Negotiating

A large part of the service I offer is to advocate on your behalf and to help you evaluate and negotiate offers from potential buyers in order to protect your legal interests, and to ensure you are optimizing the price and conditions surrounding the sale of your home.

Offer Details

The offer you receive will include: the legal name of the potential buyer(s), the legal name of the seller(s), the legal description and civic address of the property, the price the buyer(s) is offering to pay, desired inclusions (items in or around the home that the buyers wish to have included in the sale, such as appliances, lighting fixtures or window coverings), amount of the buyer’s deposit, desired dates the potential buyer would like to take legal and physical possession of the home (possession date), legal “terms” or “conditions” upon which the contract becomes final (such as satisfactory home inspection report or financing approval), and the date the offer expires.

Potential Responses

You can respond to an offer in one of three ways:

1. Accept as is: your signature finalizes the contract and it becomes a binding legal contract.

2. Counter offer: you may make changes to the offer, such as adjustments to the price, closing date or conditions. When you do so, the prospective buyer may accept, reject or make another counter offer in response. Only when one of the parties signs an unconditional acceptance of the other party’s offer does it become legally binding.

3. Rejection of the offer: you may simply reject the offer and the sale will not go through.

Offer Withdrawal

The buyer can withdraw an offer until the moment you accept in writing. If you are evaluating an attractive offer, it’s important to note that timeliness is important.

Offer Acceptance

Once both parties come to an agreement the offer is considered “accepted” and they will have a set period of time in which to satisfy the “conditions” agreed to in the contract, such as completing a satisfactory home inspection report or securing financing. Only after all conditions are removed do you have a legally binding document.

Firm Offer

An offer is considered firm once all conditions have been removed by both parties. The typical condition removal period is one week to ten days, or as agreed to in the offer.

Offer Negotiation

Price is only one of many factors to weigh as you evaluate and negotiate an offer. Every situation is different. While you may be motivated to secure the optimal price given current market conditions, you may also need to weigh other considerations such as the convenience of the buyers’ desired completion, possession and adjustment dates, their desired inclusions, the number of subjects or conditions attached to the offer, and the amount of the deposit. I will sit down with you to review and assess each incoming offer to determine whether it’s the right one for your unique needs and circumstances.

Background Research

With some investigation, I can help assess the potential buyers’ backgrounds and goals for purchasing a property, which may assist you in negotiating a competitive price. For example, a buyer who has already sold his/her home and needs to move within a certain time frame may be willing to compromise on price if they can negotiate a date that coincides with the completion of their home sale.

Multiple Offers

In high-demand, low-inventory areas, you may find yourself in a situation where there are several offers for your home. Some sellers in high-demand niche markets may also intentionally list their home at a low price hoping to stimulate multiple offers. This does not necessarily mean the price will be bid up significantly over the asking price, but it does mean that due diligence will be required on your part and my part, as your Real Estate Agent, to ensure you properly assess the strength and limitation of each offer, negotiate strategically to maximize the value you are able to get for your property, and to ensure you are protecting your legal interests in what may be a time-sensitive and complex negotiation process.

For more information on any of these services, contact Kaitlyn at 403-970-5397.


© 2014. Kaitlyn Gottlieb.
All rights reserved.