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How Credit Scores Affect Getting A Mortgage |
| Sellers should not focus solely on the price when reading an offer. While it's a given that each party is out to get the best price, thinking too much about price can result in overlooking other important terms of a contract. These other terms could be very favorable. Not examining them, or not giving them due consideration, could cause a seller to pass up an excellent opportunity.
Some terms that could work in a seller's favor:
- Higher-than-market interest in a second mortgage for the home;
- The buyer paying most or all of the closing costs;
- The buyer taking care of any repairs;
- Quick closing, with the buyer pre-approved and ready to close in a time that best suits the seller;
- All-cash deal.
When reading through offers, sellers need to remember to look at the whole package. It's important to take the time to assess what's being offered and whether it meets the sellers' needs.
Be sure to read the fine print! |
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