Updated almost 5 years ago on . Most recent reply
Seller evaluating 2 offers
My old trustworthy real estate agent retired and I have a new one handling a sale. The house is a bit unusual so we only got 2 offering in the week it was listed(sign of the times). I feel like one offer was the slam dunk but the agent wanted me to take the other offer. What do you think?
Offer 1: FHA loan with 3% down, offer price 315K with 5K back at closing, full inspections.
Offer 2: 20% down conventional loan, offer price 310K, no inspections, accepted in as is condition. 20% down coming from sale of existing home. Existing home has been pending for 2 weeks after just 5 days on market. Buyer of second home preapproved FHA loan by reputable lender.
Thanks in advance.
Most Popular Reply
Hi @Tom Fidrych, I like Offer 2 better. The fact that there are no inspections is a big deal. As long as their other property is past the inspection period (and appraisals coming in low are not a concern in your area), it should be set to close. If I was representing the buyer on offer #1, I would find some repairs that need to be completed.
- Brad Hammond