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PROPERTY TALK
For the Seller
Its not uncommon for a Seller to receive more than one offer on their property. It can be very tempting to accept the highest offer, but sometimes the highest offer is not necessarily the best offer. Here are 4 guidelines to consider when reviewing the offers presented.
1. Is the offer conditional?
Offers can be made with what is termed as“ conditional” or“ subject to” clauses. These clauses can delay or even allow a offer to become null and void if the terms are not met within the period indicated o the offer. There are means and ways to protect the Seller in this process and that is the benefit of a good Real Estate Agent. An example of a“ subject to” clause is if the offer is reliant on the Buyer needing to sell their house before they can continue with the contract. If they fail to sell their house then it would affect you as the original Seller by delaying or terminating the original offer.
2. Does the buyer have a deposit?
A Buyer that has a deposit has greater value than a 100 % bond buyer. There are two reasons as the primary benefits;
A) The Buyer indicates serious intent and has performed sufficient financial planning, B) The Buyer should be almost guaranteed a bond unless their Credit Score is impacted negatively.
3. Is it a cash or a financed deal?
“ Cash is King!” This phrase you will always hear in the business industry, but it doesn’ t mean a Cash Buyer is a good buyer. The reason for this could be due to the cash being tied up in investment or delayed payments to the proposed Buyer resulting in delays on getting the money to the Attorney in reasonable time. This could also result in a breach of contract making the contract null and void if not properly administered. Bonds have the risk of affordability which is a constant concern for Sellers, but are considered the norm when buying property.
4. When is the date of occupation?
Occupation date is the date that the Buyer would like to be in your property. If the Buyer would like to be in the property
For more advice on property options and the due process of buying,
selling and investing …
Marc van Heerden Cell: 073 198 9369 Tel: 041 360 0365 marcv @ sothebysrealtype. co. za www. sothebysrealty. co. za Each office is independently owned and operated
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