About Del Mar's Spindrift

Buyer Makes Offer, Now What?

Some of us have not been thru a full real estate cycle (growth expansion, depression, recovery) and how we handle offers from buyers will determine our success in the sale.

After receiving an offer on a Del Mar townhome yesterday and reviewing I made notes about pros and cons, notes to myself to ask the seller and notes to ask the buyer agent. A meeting of the minds and expectations from all parties involved will make the deal go smoother and increase the percentages of a closing.

Notes and questions to the buyer agent, do you have other offers out at the moment? Do you have proof of funds (cash deal)? You have a 30 day closing, you understand the property is tenant occupied? I also ask about the services the buyer agent has put into the contract. How long have you known the clients and how long have they been shopping for a home?

These are just some of the questions I like to ask, what questions would you ask?

I also go to the MLS and pull up all active, pending and sold listings in last 3 months that the buyer should have seen as like type of properties. This gives the seller a snap shot of what the buyer has seen, the inventory and how his home looks compared to the comps. This almost always gives an idea why the buyer has come in with the price, terms or other perks they are asking for in the offer.

What do you do prepping for the presentation to the seller?

If you have any questions about special needs for your property, contact me here!

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