Ginny's RI House Hunt Blog: Sellers Rights When Receiving a Buyer's Home Offer

Sellers Rights When Receiving a Buyer's Home Offer

What Did You Say That Buyer's Offer is On My Home?

 

A home seller needs to understand their rights when selling their home.  I call it the Sellers Bill of Rights and it has been around a long time with many house for sale in Wickford RInames people use.  No matter how your real estate market is progressing...hot or sluggish, you should recognize and prepare for what you need to know as a seller.

Here are a few of the points that give you an overview of what you should know/ and or expect from your real estate agent:

- Be prepared to see a market analysis of the current real estate market, as well as the home solds in the last 6 months for comparable homes like yours.

- Receive what a typical selling price range should be and what your 'Net Proceeds' will be out of a house sale before listing your home.

- Talk to your agent about what price range you can and will accept prior to listing the home.  Are you realistic in what you can expect on the house sale?  Will you end up being a short sale?

- Ensure that this real estate agent will negotiate in good faith for you.  Test their skills by posing questions to them in how they would handle requested home repairs or a lowball offer from a buyer with you.  Can they quickly bring to the table a 'talk' that satisfies your needs.  If they say they are a strong negotiator remind them that in the 'throws' of negotiations that they are working for you.

- Do not eliminate low offers on the house.  Many a buyer will lowball hoping to get that one bargain.  Negotiate well since you know where you need to be on a house sale because you addressed this up front with your agent.

 

Here are some starting points that will help you as you prepare to think about listing your home for sale.  If you are in the RI real estate market area, I would love to hear from you and see how I may guide you in this process.  

What do you expect your Sellers Rights to be?

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Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  When you are in need of a knowledgeable RI real estate professional and specialist for your buying, selling or relocating needs and an internet savvy marketer who sells RI houses in this real estate market, call Ginny Gorman at 401.529.7849 or email her at RiByTheBay@gmail.com today.

 

 

This blog © and its contents is original to Ginny Lacey Gorman

the RI waterfront Realtor of Choice

 

Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate   

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ...  I sell dreams!  Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.

 

Looking for a knowledgeable Rhode Island Real Estate Agent?  Let me GOOGLE one for you!

            

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cell: 401.529.7849      Ginny Lacey Gorman, Realtor

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Comment balloon 17 commentsGinny Gorman • December 20 2016 02:19PM

Comments

Hi Ginny, all good points!  We do need the understand what our clients needs are when in the negotiation process.  We are working for them. 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Realty) over 3 years ago

Low offers are just a starting point - sometimes the buyer was just testing the waters to see if he could get a crazy deal, and sometimes the buyer isn't listening to his agent's advice. Definitely counter!

Posted by Kat Palmiotti, The House Kat (406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty) over 3 years ago

Hi Ginny

These are important questions and issues any seeler should expect to encounter before and during the offer process. Any Rhode Island homeowner would be fortunate to work with you to get their hold sold!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California) over 3 years ago

Hello Ginny Gorman,  I like it Sellers Bills of Rights!  I need a copy for my office and for my marketing book when listing.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) over 3 years ago

Ginny this is great advice and hopefully your blog will be read by several Sellers before the list their home for sale.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 3 years ago

Great post and your advice is spot on. Thanks for sharing. 

Posted by Dana Hollish Hill, Lead Associate Broker (Hollish Hill Group, KW Capital Properties) over 3 years ago

Great advice clear and concise!

Thanks!

Posted by Susan Jemison, Full-service agent serving Nantucket and beyond. (Windwalker William Raveis) over 3 years ago

I can't tell you how many agents I know who don't do net sheets. For me, that's one of the basic items to provide the seller.

Posted by Richard Iarossi, Crofton MD Real Estate, Annapolis MD Real Estate (Coldwell Banker Residential Brokerage) over 3 years ago

Congratulations on the featured post. I hope others will read this too and learn from it.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 3 years ago

Congratulations on your feature recognition.

Home sellers will be in very good hands when they select you as their listing agent.

Posted by Roy Kelley (Realty Group Referrals) over 3 years ago

Hi Ginny Gorman!  Great list of sellers' rights that I wish ALL SELLERS would read!  Even considering the low offers - price isn't everything so, it's always good to discuss the entire offer!

Congrats on the feature!

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) over 3 years ago

A seller with a seasoned agent will assist in the negotiating process once offers have been received.

Posted by Harry F. D'Elia III, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (RentVest) over 3 years ago

Good morning Ginny Gorman ,

Congratulations on a well deserved feature post! Love your Seller's Bill of Rights! All sellers need to be presented with this! Thank you for sharing!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) over 3 years ago

All good points to cover before listing the home. You can then return to them if an offer lines up in the window discussed. We have always found and recommend to sellers to consider negotiating any offer because that first offer is often the best one they may see and you never really know if the buyer is just trying it on to see the response and they actually love the home. It is all about discovering motivations and desires during the negotiation process.

Posted by Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) over 3 years ago

It takes a good agent to make sellers understand all these issues.

Posted by Olga Simoncelli, CONSULTANT, Real Estate Services & Risk Management (Veritas Prime, LLC dba Veritas Prime Real Estate) over 3 years ago

Yaaah....a feature for Christmas...and well deserved Ginny Gorman 

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) over 3 years ago

Great advice!!!

Ensure that this real estate agent will negotiate in good faith for you.  Test their skills by posing questions to them in how they would handle requested home repairs or a lowball offer from a buyer with you.

Posted by Sham Reddy CRS, CRS (H E R Realty, Dayton, OH) over 3 years ago

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