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They Offered What?!?

Every seller looks forward to the day they get their first offer on their home - and many sellers are a little disappointed. Chances are, your buyer's first offer is lower than what you're willing to accept - and lower than what he or she is willing to pay.

When you get your first offer on the home, don't take it personally. The amount offered is not a reflection on the years of memories you have in your home, or the hours of work you put into preparing it for market. It's just the buyer's initial step in the dance of negotiating price.

It's also important to remember that the offer is more than just a number. It's a contract saying what the buyer wants to receive, what he or she is offering to pay, and what conditions must be met for the sale to take place. These conditions, called contingencies, are an important part of the process. Some of the most common ones include:

  • Final financing approval. Even if your buyer is pre-approved for a mortgage, he or she will need to get the loan approved for your specific home.
  • Title assurance. This refers to your clear ownership of the property you're selling.
  • The buyer selling his or her current home.
  • Specific repairs the buyer wants you to make.
  • Certain fixtures, such as window treatments or some appliances, staying behind.

The offer also will include a deadline for you to accept or make a counteroffer.

After we discuss the initial offer and you consider how it lines up with your goals, we then make a counteroffer. Maybe you're willing to split the difference between the asking price and the first offer. Maybe you're willing to accept a little less money for the home if you can keep a favorite fixture.

While the dance of offers and counteroffers goes on, we'll continue to show the home and court other buyers. The more people you have interested in your home, the higher your final sales price will be, and the better your chances of making a great deal.

Office Locations

  1. Landoak
    Realty Executives Associates
    10255 Kingston Pike
    Knoxville, TN 37922
    Phone:(865) 693-3232
  2. Bearden
    Realty Executives Associates
    109 Northshore Dr. Ste 200
    Knoxville, TN 37919
    Phone:(865) 588-3232
  3. North
    Realty Executives Associates
    3232 Tazewell Pike
    Knoxville, TN 37918
    Phone:(865) 688-3232
  4. Maryville West
    Realty Executives Associates
    1213 W Lamar Alexander Pkwy
    Maryville, TN 37801
    Phone:(865) 983-0011
  5. Maryville Downtown
    Realty Executives Associates
    535 W Lamar Alexander Pkwy
    Maryville, TN 37801
    Office:(865) 984-1111
    Fax:(865) 983-4621
  6. Ebenezer at Westland
    Realty Executives Associates
    8915 Linksvue Drive
    Knoxville, TN 37922
    Phone:(865) 531-2020
  7. Oak Ridge
    Realty Executives Associates
    190 North Purdue
    Oak Ridge, TN 37830
    Phone:(865) 482-3232
    Fax:(865) 482-0203
  8. Madisonville
    Madisonville
    4013 Highway 411
    Madisonville, TN 37354
    Office:(423) 442-1975
    Fax:(423) 442-8015

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Realty Executives Associates is licensed in the state of Tennessee. The Fair Housing Act prohibits discrimination in the sale, lease, or rental of housing, or making housing otherwise unavailable because of race, color, religion, sex, national origin, familial status, or disability. Each office is independently owned and operated. By registering on this website (providing your name and/or contact information) you are making an inquiry and are granting permission for an agent to contact you via telephone and/or email, regardless if you are registered with the national, state, or other Do Not Call list. The data relating to real estate for sale on this website is being provided for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. Some or all of the listings on this website may not belong to Realty Executives Associates. Each office is independently owned and operated. Each office is independently owned and operated. Each office is independently owned and operated. Each office is independently owned and operated. Each office is independently owned and operated. Each office is independently owned and operated.