I occasionally take listings but the majority of my real estate work is in representing buyers. When working with buyers a lot are sellers at the same time usually in some other part of the country. In the Ocala area buyers often will make an offer contingent on the successful sale of their existing home which would have to be already under contract. Looking at buyers contracts I’m struck by several things.
1. People will accept offers with really low escrow or good faith deposits. There are plenty of people who can afford to walk away from a $1,000- if they really want to but not many will walk away from $5,000-. Having said that I often write offers with a low escrow deposit and I’m surprised how seldom the seller counters.
2. Don’t seller’s look at their buyers ability to buy their home ? If a buyer makes you an offer with no money down and wants you to pay closing costs isn’t that a weak offer ? As opposed to cash for 30% down for example.
3. Pre approved. You know that doesn’t mean the buyer is 100% guaranteed to get a loan right ? In some cases this just means a lender asks some questions about their finances. A seller might want to ask if the lender looked at bank statements, tax returns ect. It is the underwriters who approve loans not the banker or mortgage person who initially interviews the buyer. Underwriters are extremely tough these days and do not rubber stamp loans !
4. Some lenders are notorious for not closing on time. This can be a big problem if you are trying to sell one house and buy another at the same time.
These are just a few thoughts about selling your house. They are all things an experienced Realtor should be bringing up before you get an offer.