When you put your home in Locust Grove or elsewhere on the market, there is a lot of talk about housing contracts and offers. Through taking the time to declutter and stage your home to scooting out of the door in the evening for a showing, it is always a rewarding feeling when you receive an offer. But, what if it isn’t what you wanted. Do you have to accept an offer on your home? If you receive multiple offers on your home in Locust Grove, do you have to take one of them?
The short answer is no.
Sellers are not legally required to accept any offers on their home in Locust Grove or anywhere in the country. Technically speaking, you could have a thousand offers on your home and reject each one.
However, you did put your home on the market to get it sold, so sometimes it is worth having your Realtor® negotiate an offer. As a seller, when your Realtor® presents an offer there are three paths you can take:
- Accept the offer as is
- Reject the offer
- Counter the offer with changes
Accept the offer as is
Sellers will accept an offer as is when sellers with a home in Locust Grove agree with everything the buyers placed in the offer. This means that the price, timeline for inspections, financing of the buyers, and closing date are all agreeable with the seller.
Reject the offer
Sometimes sellers just get unacceptable offers. Whether it is a low offer price or a long contingency period, sellers can reject offers. Buyers who offer to purchase a home in Locust Grove at a much lower price point than the listing price often upset sellers. This makes the sellers wary to even counter, so they reject the offer. When this happens, sellers wait for another offer.
Counter the offer with changes
At other times, sellers will receive an offer that has both appealing and unappealing parts. When this happens, sellers can send a counter offer to the buyers that makes changes to the unappealing parts of the offer. For example, if the home in Locust Grove is listed for $275,000 and the buyers offer $260,000, then the sellers could counter at $268,000.
After making the changes, the seller’s Realtor® will send the counter offer to the buyers. The buyers can then accept the offer or counter with further changes. This can continue until both sides can come to an agreement or they determine that they cannot come to an agreement and the buyers move on to another home in Locust Grove.
It can be scary to reject an offer on your home in Locust Grove. No one has a magic crystal ball to tell you how many offers you will get and what the best one will be. However, working with an experienced Realtor®, like me, who is familiar with the local market and has awesome negotiation skills will help guide you in the home selling process.
