You’ve Received An Offer on Your Muskoka Property, What Next?
The decision was made, the showings are taking place, your Muskoka property is for sale. The Parker Team calls, you’ve received an offer on your Muskoka property for sale, what’s next?
Emotions can run high when an offer is received, after all this is your home, you have a special connection to it. When reviewing the offer, it is important not to take anything personally, after all the Buyer will try to find things wrong with the property to justify the price they are offering.
Beyond the price offered, be sure to look at the closing date. How long will you be expected to carry the home, or conversely how long will you have to move out? Closing dates can be negotiated so be sure to take a good look at this. Don’t forget to ask about the deposit the Buyer is offering, should it be higher, is the buyer indicating something through the deposit offered?
Conditions In Your Muskoka Real Estate Offer
What conditions are in the offer? A home/septic inspection? Water test? Financing? Insurance? None? Review each condition with The Parker Team, and don’t be afraid to ask questions.
As the Seller you don’t have to accept an offer. You can thank the Buyer for the offer, and be honest with them for the reason you are not considering it. For example you might say you will only be considering offers close to the list price. You may ask for a letter of pre-approval from the lender before accepting the offer. You may decide that there are to many conditions.
If you don’t accept the offer as presented you can negotiate with the Buyer. You may sign back at a higher sale price, or you may remove some of the conditions. It’s important to speak with your Realtor and discuss the market conditions before you make any decisions.
The State of the Muskoka and Lake of Bays Real Estate Market
The 2021 Muskoka and Lake of Bays real estate market saw most properties selling at or above list price, often in multiple offers. Dealing with multiple offers gives you the Seller more control over the type of offer and price you are willing to consider. Speak with The Parker Team for more information on how to effectively market your home, and receive offers in a Seller’s market.