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Accepting a Bid

Once offers are being made on your home it is time to decide what price you are willing to accept for the sale of your house. In a sellers market it is not unheard of sellers getting more than their asking price for their home. When available homes are limited buyers will aggressively pursue homes they are interested in. If you have several people interested in the home, it is perfectly okay to have them bid against each other to maximize the price you are trying to get for the sale.

Once you accept an offer (bid) you will need to draw up a contract and accept some form of deposit to show good faith in the deal. It is recommended that you have an attorney handle or at least review the contract for the sale, as it is a binding document. The contract should outline the agreed on selling price, the deposit to be made, the mortgage amount (if applicable) and the estimated closing date. The contract should also outline what is included (and what is not included) with the sale of the home.

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Related Articles:
Buying a Home
Visiting Homes
General-terms
Selling a Home
Choosing an Agent
Preparing your House for Sale
Accepting a Bid
Closing on your Home
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