As your possible purchase becomes closer, the following
form would be helpful to understand more appropriately
your needs when a purchase offer takes place and in
the manner that offer is worded is critical when submitted
to a seller.
For instance, currently in the Charleston market, offers
with even one contingency can be and is rejected. The
less contingencies, the more powerful the offer.
The type of purchase and type of financing can affect
the interest rate you can acquire.
In most cases sellers want an average close of 3-5
weeks. Anything more and it may lead to a rejected offer
unless they have stated in the listing.
Inspection costs are normally paid by the buyer, CL
100 (Termite) inspections are normally paid by the seller.
A word on purchase price. Please refer to our Historical
Data charts. A column entitled %LP/SP refers to
the difference between List Price and Sale price. This
difference can be between 93% and 98% depending on the
area.
This does not mean a buyer cannot offer a purchase
price at 90% (or lower for that matter) of the List
price especially with factors such as how long the property
has been on the market, the location, condition of the
property and the results of our comparative market analysis.
CMA example.
Each property is different. Keep in mind that in normal
cases, the lower the offer below asking price enhances
the probability that the offer may be countered or even
go unanswered.
With respect to settlement costs, should a buyer request
a seller to pay closing costs? This again would factor
in the difference between what the buyer is offering
and the seller’s list price.
For example, if a buyer wanted the seller to pay closing
costs, the seller would more than likely accept the
offer if the asking price was near, at or above the
list price than they would if the offer was 90-95% of
the asking price and a buyer was asking for $4,000-$6,000
in closing costs.
Please fill out the following form so that we may know
the situations that are important for us to know, understand
and serve you better.
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