An offer to buy your home is a purchase agreement signed by the potential buyer that includes: The amount of the offer An explanation of how the buyers will pay, such as cash or a pre-approval for financing The terms – such as a request for closing cost help or contingencies such as the sale of the buyers’ house, a final mortgage approval, a satisfactory home inspection and an appraisal A target date for closing An earnest money deposit A time limit for the offer

A showing takes place either at an open house, which is a scheduled session when anyone can come by without an appointment, or during an appointment scheduled with you or your listing agent.

After your closing: Keep all your signed documents in a safe place. Avoid lowering your credit score with a new credit application or late payments. Change your address. Change the locks and security codes on your home Review your due dates and new budget. Congratulations! You’ve got the keys to your new home! Stay in touch us–we want to hear all about it.

FAQs Archive - Page 2 of 5 - The John Fincham Group

Q: What is a home inspection?

A home inspection is a thorough review of your home’s structure and systems by a professional home inspector. Buyers can use the inspection report to decide to rescind their offer if a major issue is uncovered or to request repairs if the contract is contingent on a satisfactory report. In some cases, a home inspection is solely for the buyers’ information and can’t be used to negotiate.

Q: What happens if I receive multiple offers?

If you receive multiple offers, your agent can advise you on one of these options: Accept the best offer. If one offer stands out above the rest, you can accept that one right away. But be careful not to be swayed by a high offer if the financing seems uncertain or if the buyer hasn’t explained a plan for a possible low appraisal. Counter all the offers to get a better price and favorable terms. You can ask all potential buyers to give you their best offer by a certain deadline. Counter one offer that’s close to what you want. If you like one offer but think the buyers could do a little better, you can send them a counteroffer to see if they’ll accept it. You and the buyers can negotiate until you both agree on the final contract. Your John Fincham Group agent is your best ally during the negotiations and is equipped with the data and expertise to guide you.

Q: How do I evaluate each offer?

When you receive an offer to buy your home, you and your agent should review it and consider whether you want to accept it. Whether you have one offer or several, you and your agent will look at: The amount offered Whether the buyer has included or waived contingencies Where the funds are coming from, such as all-cash, a reputable local lender, a well-known online lender, or an unknown out-of-town lender The proposed closing date and date of possession of the house to see if it aligns with your needs Any special requests for items to convey or for special inspections

Q: What can I expect when showing my house?

Three important things you can do to help get your house sold are: Leave when your house is being shown. Buyers prefer to look at homes when they can move around freely and the owners aren’t there. Make your house as available as possible. While it may be inconvenient to show your home at dinnertime or on weekends, buyers who can’t see a property when they’re eager may cross it off their list. Listen to any feedback from buyers or agents about ways you can make your home more appealing. Coordinate with your John Fincham Group agent for maximum exposure and a faster sale.

Q: How do I prepare my house for a showing?

Your agent is a great source of advice on specifics for your home preparations so that your house is positioned competitively in the market. Preparations will likely include two phases. During phase one, before photos are taken and before the first showing, you should: Clean deeply. Paint some or all of your house. Do minor repairs such as caulking tubs and windows. Make major repairs – if needed and in your budget, such as replacing counters or appliances. Stage your furniture to showcase your home’s best features. Remove personal items such as family photos. Declutter every surface and storage space. Reorganize your closets and pack excess items. Eliminate odors by cleaning the fireplace or pulling out musty rugs. Add a color scheme with rugs or pillows if needed to warm up your home. Upgrade your lighting or light bulbs to make your rooms brighter. Spruce up the landscaping. Power-wash your decks and sidewalks if needed. Phase two, the last-minute prep just prior to any showing, includes: Turn on the lights and open the blinds for maximum light. Take out the garbage. Make the beds. Clear and dust surfaces. Take your pets with you and put away pet bowls. Hide your valuables. Turn off your computer. Set the temperature. Put out fresh towels.