What to Know Before Saying Yes to an Offer on Your Niceville Home
This is Jim Whatley, your local real estate broker at Uber Realty LLC. After 18 years helping folks in Niceville, Fort Walton Beach, Shalimar, Crestview, and Navarre sell their homes, I want to share some helpful tips about reviewing offers.Getting an offer on your Niceville home is exciting! But how do you know if it's a good one? It's not always about who offers the most money. Let me help you understand what makes a strong offer.
5 Important Things to Look at Beyond the Price Tag
1. Earnest Money Deposit (EMD)
This is the money a buyer puts down to show they're serious about buying your home. Think of it like a promise in cash! Most buyers offer 1-2% of your home's price as earnest money. For a $300,000 Niceville home, that's about $3,000-$6,000. The more earnest money they offer, the stronger their offer is.
2. Contingencies (The Safety Nets)
Buyers include contingencies to protect themselves. Fewer contingencies means fewer ways for the sale to fall through! Here are the common ones:
Home Inspection - The buyer checks if your home needs repairs
Appraisal - Makes sure your home is worth what the buyer is paying
Financing - The buyer needs to get their mortgage approved
Sale of Current Home - The buyer needs to sell their home first
Title - Checks that you legally own the home
Here at Uber Realty, I've seen how important it is to understand these contingencies for Niceville properties.
3. Down Payment Size
A bigger down payment usually means the buyer has saved more money. This is good news because it means they're more likely to get their loan approved. The average down payment these days is about 8% of the home price.
4. All-Cash Offers
Cash offers are wonderful! When someone doesn't need a mortgage, there's no appraisal or financing to worry about. This makes for a smoother, faster sale of your Niceville property.
5. Closing Date
This is when you'll sign all the papers and officially sell your home. Most sales take 30-60 days to close. Think about what works best for your moving plans. As your local Niceville broker, I can help you figure out the timing that works best for you.
When Should You Ask for Something Different?
Sometimes, you might want to ask for different terms. As your Niceville real estate broker, I can help you decide when to make a counteroffer. If homes are selling fast in Niceville right now, you might be able to ask for more money or better terms.
When Is the Deal Official?
The deal becomes official when both you and the buyer sign the offer. Then the countdown starts for the buyer to complete their contingencies. Soon, you'll have cash in hand and be ready for your next adventure in Niceville or beyond!
Need Help Selling Your Niceville Home?
At Uber Realty LLC, I've been helping local homeowners for 18 years. As a micro real estate brokerage, I offer personalized service tailored to what YOU want as a home seller. Whether you're in Bluewater Bay, Swift Creek, or Rocky Bayou, I know our local markets inside and out.
Have questions about selling your Niceville home? Call me, Jim Whatley at Uber Realty, today! I'm here to help make your home sale easy and profitable.
