The Price Is Not Always Right
“The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price.
Negotiating The Right Way
I take the ethical responsibility of fairly negotiating contractual terms very seriously. It is my job to find a win-win agreement that is beneficial to all parties involved. I will provide a through and objective assessment of each offer to help you make the right choice.
The Initial Agreement and Deposit
Now that you are “under contract”, you and the buyer will be given a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow and also ensures that each party involved is not in breach of their agreements. During the process I will keep you constantly updated so you will always be prepared for the next step.
Inspections and Appraisals
The buyer has ten days (unless a different timeframe is negotiated) to do all their due diligence, including a home inspection. This will include a general inspection as well as likely a termite, roof and plumbing line inspection. Following the inspection, the home will be appraised by a licensed appraiser to determine the value for the lending institution via third party.
The title company will be selected by the buyer and their job is to examine and insure clear title to real estate. After researching the complete recorded history of your property, they will certify that your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and all new encumbrances are duly included in the title. This policy cost is your responsibility.
The Arizona contract allows for several contingencies during our escrow period – inspection period, title review, HOA document review as applicable, and to secure their loan.
I will keep you posted through each step and flag any specific concerns that impact the successful closing of your property.