Section 10, Unit 3: Purchase Agreement Negotiations

Lena's buyer Mindy is making an offer on Leo's house. Which party decides how much earnest money to offer?

Mindy

In a hot market, what pricing strategy may incite bidding wars?

Pricing at or just below market value

In a neutral market, what pricing strategy may generate interest in the property, possibly prompting multiple offers?

Pricing below market value

Dani is in love with the ranch-style home on Cardinal Avenue, says she simply must have it, and is willing to pay cash. The seller is concerned about an appraisal. Which of the following would be a good strategy for structuring her offer?

Waive the appraisal.

When structuring an offer, if a seller wants to expedite the closing process, what can a buyer offer to address this need?

A quick close

When a sales contract doesn't cover the terms needed by the parties, which of the following actions is a licensee allowed to take?

Add a standard addendum using standard language.

Your buyer clients Jen and Tony really like the patio set and bedroom furniture in the house you've just shown them. However, you've suggested that they not ask for them as part of the offer to purchase, because the market is ______.

Hot

Your buyer clients Donna and Mike are submitting an offer on a home where the seller is moving to another state and wants to expedite the closing process. What would be a good strategy for structuring an offer in this case?

Offer a quick close.