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PARK CITY REAL ESTATE

tel Call : 435.901.8333

Biggest Home Offer Variables

October 30, 2020 by Jensen and Company

Home Offer

Whether you are looking to secure your dream house or part ways with the family home, understanding the importance of a home offer is key to any real estate transaction. If price was the only option, the real estate process might be a bit easier for everyone. However, there are many factors you need to take into account when buying or selling a home.

Also, in the event of multiple offers being made or received, there is a strategy that goes into taking in all of the information and making the best decision possible for you. After all, don’t we all just want to find the perfect home?

The Amount of the Offer

Really the most obvious and the most considered aspect of this list, the pricing amount is important and should not be overlooked. The first thing to determine for a buyer is whether or not the price is fair. Comparing similar homes in similar areas can give the buyer a better idea of what financial bracket the property should lie in.

From a seller’s perspective, it is important to be aware of your buyer’s financial details. Knowing who your buyer is using for a lender and requiring a pre-qualification letter can sometimes be an important step towards a safe purchase. Understanding your buyer is key to any real estate transaction.

From both perspectives, it is important to keep in mind the current state of the market. Prices on properties will obviously differ in a buyer or seller’s market, so it is important to recognize this before making or receiving an offer.

The Source of the Finances

While finances will be different for every buyer or seller, it is important to find the right financing plan that works for you. While it has been said that “cash is king” and that debt can burrow you into a hole, sometimes financing a home through a mortgage can provide tax breaks or other monetary incentives.

While cash eliminates interest rates and most closing costs, draining your cash assets can sometimes make you vulnerable and unsteady in your financial future as well if not appropriately accounted for. However, sellers may be more tempted to accept a cash offer if they are looking to quickly sell their property as there is less processing time for a loan to account for.

Currently, since interest rates are so low, it might be wise for even buyers with a surplus of cash to consider financing as well. While no one knows for sure how long this will last, it might be advantageous to take this into consideration when making a financing decision.

Overall, it is best to consult with your bank or financial advisor to see which avenue makes the most sense for you. Every buyer or seller is different, so what works for one might not necessarily work for another.

The Conditions of the Offer

As a general rule, the fewer conditions that are associated with an offer, the stronger the offer. Sometimes, a buyer may have to wait to sell his or her house before committing to the offer. This can be difficult as the seller has no way of controlling when or if the buyer’s home will sell.

A few other common contingencies include the home inspection, property appraisal, and buyer financing – which all protect the buyer in the event that there are major defects with the home or if the house doesn’t appraise during closing. If you make or receive an offer that has too many conditions, sometimes it may be best to look the other way.

The Broker of the Offer

While it may often be said, it is still important: not all agents are the same. If the buyer is trying to represent himself? This could potentially mean more responsibility and also more liability for the listing agent.

The agent the buyer or seller is working with could also not know what he or she is doing or be difficult to work with. While sometimes thought of as minor details, these can sometimes be the difference between an offer falling through and closing. However, here at Jensen and Company, we have been representing Park City home buyers and sellers for over the past 30 years and continue to provide our incredible clients with the knowledge and understanding of every step of the process. Whether you are buying or selling in Park City, we have you taken care of.

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About Jensen and Company

Brad Jensen has been a top realtor since 1988. In 2021, he was invited to join the prestigious International Luxury Alliance. The Alliance is an elite network of real estate professionals from key markets in the U.S. and abroad. Creating unique opportunities for his clientele to acquire some of the most sought-after real estate in the world. He is one of the most respected agents in Utah and would be happy to assist you in selling your home or buying a new home. It is Jensen and Company's goal to help make your real estate transaction as easy and stress-free as possible. Our blog has lots of great information and market intelligence to help you learn more about the Park City real estate market. Please contact us if you have any questions. We would be happy to assist you.

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1153 Center Dr Ste G200
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ftel Call : 435.901.8333

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  • About
    ▼
    • Testimonials
    • Our Videos
    • Contact Us
    • Blog
  • Search
    ▼
    • Significant Sales
      ▼
      • Luxury Mountain Living
    • Featured Properties
    • Property Search
    • Most Recent Properties
  • Park City
    ▼
    • Buy in Park City, Utah
    • Sell in Park City, Utah
    • Park City Homes & Condos For Sale
    • Park City Real Estate
  • Deer Valley
    ▼
    • All Deer Valley Real Estate
    • Deer Valley Homes & Condos For Sale
  • Communities
    ▼
    • Old Town
    • Thaynes Canyon
    • Lower Deer Valley
    • Deer Crest
    • Upper Deer Valley
    • Empire Pass
    • Aerie
    • Prospector
    • Park Meadows
    • Canyons Village & Colony
    • Sun Peak | Bear Hollow
    • Silver Springs
    • Old Ranch Road
    • Kimball Junction
    • Pinebrook
    • Summit Park
    • Jeremy Ranch
    • Glenwild | Silver Creek
    • Trailside Park
    • Promontory Area
    • Jordanelle Area
    • Midway | Charleston
    • Heber City
    • Kamas & Marion
    • Huntsville – SnowBasin
    • Red Ledges
  • Buy
    ▼
    • Deer Valley Real Estate
    • Park City Homes & Condos For Sale
    • Park City Real Estate
    • Deer Valley Homes & Condos For Sale
  • Sell
    ▼
    • Why Sell With Us
  • Discover
    ▼
    • Park City Events Calendar
    • Featured Attractions
    • Local Ski Resorts
    • Park City Local Vendors
    • Our Infographics/Resources