1. The closing
date. See if the date the buyer wants to take title is reasonable
for you.
2. Date of possession. See if
the date the buyer wants to move in is reasonable for you.
3. The earnest money. Look
for the largest earnest-money deposit possible; since it is
forfeited if the buyer backs out, a large deposit is usually a good
indication of a sincere buyer.
4. Fixtures and personal
property. Check the list of items that the buyer expects to remain
with the property and be sure it’s acceptable.
5. Repairs. Determine what
the requested repairs will cost and whether you’re willing to do the
work or would rather lower the price by that amount.
6. Contingencies. See what
other factors the buyer wants met before the contract is
final—inspections, selling a home, obtaining a mortgage, review of
the contract by an attorney. Set time limits on contingencies so
that they won’t drag on and keep your sale from becoming final.
7. The contract
expiration date. See how long you have to make a decision on the
offer.
Reprinted from REALTOR® Magazine Online by permission of
the NATIONAL ASSOCIATION OF REALTORS® Copyright 2005. All rights
reserved. www.REALTOR.org/realtormag
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