When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer.
Some terms that may work in your favor:
- higher-than-market-interest in a second mortgage for your home
- the buyer will pay for most or all of the closing costs
- the buyer will take care of any repairs
- quick close – the buyer is pre-approved and ready to close in a timeframe that best suits you
- all-cash deal
When reading through offers, remember to look at the whole package. Take the time that you need to assess what is being offered and if it meets your needs.
