Q: What is an offer?
A: An offer is usually made in the form of a written contract prepared by a sales associate representing a buyer. All offers for your luxury property will generally first be presented to me, your realtor, and I will then present them to you.
Q: How quickly must I act?
A: Usually time is of the essence in negotiating an offer. There are often strict deadlines that must be met. I will stay in constant communication with you during the entire transaction process.
Q: Who knows about the terms of an offer for my luxury property?
A: Only you and I will know about the terms of a luxury property offer prior to your acceptance. You will be kept informed of any other buyer’s interest in your property; and if more than one offer is submitted to me, all will be presented to you for your consideration.
Evaluating An Offer on Your Luxury Property
When you receive an offer for your luxury property, there are many decisions to make and details to consider. We will help you evaluate the quality of the offer, negotiate the terms and ensure a smooth transaction. Here are just a few of the many ways we will assist you through this important process:
- Be at your side when the offer is presented.
- Request information about the buyer’s background, intentions and qualifications.
- Ensure that the buyer is knowledgeable about available financing alternatives.
- Thoroughly review the contract and ensure that you understand all the details.
- Guide you through key stages of the process – contingencies, inspections, disclosures, escrow, buyer financing, and any unusual terms and costs.
- Negotiate the sales price and terms that are most advantageous to you.
- Provide you with information about recent market activity, including other luxury properties in the area.
- Provide you with specific information about local, state and federal requirements that affect the sale of property. These requirements may include state codes such as: Transfer Disclosure Statement, Smoke Detectors Compliance, Environmental Hazards Disclosure; and Federal requirements such as: the Foreign Investment in Real Property Tax Act (FIRPTA) and Lead Paint Hazard Reduction Act.
You may also wish to consult your attorney or tax adviser during the sales process. We will always present you with all the facts at our disposal and offer our educated personal opinion, but the final decision to accept, reject or counter an offer is yours.