What happens when you receive your first Offer to Purchase when you have a Massachusetts flat fee MLS listing?
Your Massachusetts flat fee MLS listing went live this morning and the calls and emails are coming in. The showings are being scheduled because everyone wants to see your property… and now you have your first Offer to Purchase. Hooray! The excitement brings you to various questions. What’s the price? Where am I going to move and when do these prospective buyers want to move?
Relax, all these details mean little without looking at all the details of the offer initiated by going with us for you Massachusetts flat fee MLS listing.
Let’s break down the process.
This is just a rough idea, but a very good guide to getting a deal done. When an offer is presented for your Massachusetts flat fee MLS listing you should pay particular attention to the following information:
Price – Don’t get too excited… yet. If you don’t like the price just counter. Three rounds is normal.
Dates: Keep everyone on schedule and never miss a date. Keep things organized.
- The inspection should be done within 3-5 days. The sooner the better.
- P&S 10 days later. Always hire a flat rate attorney. Excellent seller representation from a Real Estate Attorney is around ~$700.
- Mortgage Commitment Date should be a 3 – 6 weeks after the P&S is executed.
- Overall Terms – watch out for the buyer wanted closing costs included among other things.
Various Contingencies – watch out for the old ‘we need to sell to buy,’ I rarely suggest entertaining these offers but you can get creative if need be. There are many so watch out.
Financing – This is critical. The more money down, the better. This will help the bank appraisal and underwriting process.
The seller should always be in the driver’s seat. Don’t let the other side control the deal. Just because you are looking to save money by going with a Massachusetts flat fee MLS listing, doesn’t mean you shouldn’t know what you are doing. All our seller’s know what they are doing because we help them 7 days a week at no additional charge. There’s no such thing as a smooth real estate deal but we have been doing real estate deals for 17 years and we are here to help you if you decided to go with our amazing Massachusetts flat fee MLS listing service or some call it our MLS Entry Only listing service.