Offers & Counter Offers - The Basics
Many of us think about buying a new home in Colorado Springs solely in terms of moving our place or residence - we imagine what it will be like to live in the new location or how it will feel to finally have that amazing mountain view you've been dreaming of. While this is certainly a huge part of buying a new home, it's important to remember that a home is also a major financial purchase and should be navigated carefully and strategically.
The MacGuire Team is here to help you approach this financial move with as much advance knowledge and information as possible. In order to help you better prepare for the process of buying a new home, here is some background information on real estate offers and counter offers.
The MacGuire Team is here to help you approach this financial move with as much advance knowledge and information as possible. In order to help you better prepare for the process of buying a new home, here is some background information on real estate offers and counter offers.
The Offer
Buyers - When you have found a home you love and wish to purchase, you will work with your Colorado Springs real estate agent to submit an offer to the seller. Your offer will include a suggested sale price of the home (it does not have to match the seller's asking price), the parameters for the sale (such as the closing date or the amount of earnest money) and which items the buyer wishes to include in the sale (such as furniture or artwork).
Once you have submitted your offer, the seller will have the opportunity to accept, reject, or counter your offer.
The Counter Offer
Sellers - When you receive an offer on your home, you will work with your REALTOR® to determine how best to proceed. If you are happy with the buyer's terms, you can accept the offer as it is. If you do not wish to consider working with the buyer, you can reject the offer. If you would like to pursue the sale but are not completely satisfied with the buyer's present terms, you can submit a counter offer.
The counter offer typically accepts the buyer's offer subject to a few changes. These changes most often include raising the sale price, adjusting the closing date or other time frames, and perhaps excluding certain pieces of personal property from the sale.
The Subsequent Counter Offer
Buyers - Just as the seller had the opportunity to review and revise your initial offer, you will have the same opportunity with their counter offer. You can accept it as it is or continue to negotiate as you see fit. There is no limit to the number of counter offers buyers and sellers can exchange, but counter offers almost always include an expiration date in the offer - if the seller/buyer does not respond by a designated date, the offer is voided and both parties are free to negotiate with other individuals.
Questions? Don't Hesitate To Ask!
If you have questions or would like more information about real estate in Colorado Springs, don't hesitate to reach out to me and my team! We pride ourselves on always being accessible to our clients - we will be here for you throughout the entire process.
Mike MacGuire
Colorado Springs Real Estate Agent
The MacGuire Team
6760 Corporate Dr
Ste 300
Colorado Springs, CO 80919
719-536-4324 or 719-660-6793
Mike@BuyWithMike.com
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