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Getting an offer is not the end of the job!

Getting an offer is not the end of the job.

SOLDWe recently listed a home for sale on the Main Line in a development where we do quite a lot of business. As we were discussing pricing with our potential seller they mentioned their concern with the home appraising. Prices have been rising this year and it seems each new listing is priced just a little higher than the one before, and with low inventory these homes are often selling with multiple offers.

So, we discussed how getting an offer was not the end of our job. We help with the negotiations that follow a home inspection, and we meet the appraiser and show him our comps and explain our pricing and also let him know if we had multiple offers.

Well, the home sold with two offers in a matter of days. And yes, we met the appraiser, showed him our comps for the development and the supporting comps from a nearby development that were much higher than the price this unit sold for in this development, actually there were two sales which supported the sales price. We let the appraiser know we had two offers and he said that is important if the underwriter asks why this unit was the highest price one to sell in this development he can say there were two offers.

Our job as Realtors does not end when an offer arrives and is accepted, in fact the most important part is just beginning. Once the offer arrives, the job of shepherding the sale through to completion and settlement begins. There are many things which can derail it at this stage; home inspection issues, negotiations over home inspections, mold, mortgage issues, appraisal issues, home owner or condo association issues, problems arising at the walk through; and it is our job to make sure the train stays on the tracks and arrives in the station.

So, please, don't think getting an offer is all there is to real estate. If you want a Main Line Realtor who can hold the deal together and shepherd it through to settlement then contact Nick & Trudy Vandekar.

If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

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Comment balloon 6 commentsNick & Trudy Vandekar, 610-203-4543 • August 20 2014 03:15PM

Comments

The offer is the first of many steps to reach the closing table.  Not all sellers and buyes understand this. There are many players in the process and many things that can go wrong along the way!

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) about 4 years ago

Gary this is very true, I think a large part of our job today is weathering the ship through the storm of issues that arise.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) about 4 years ago

Nic & Trudy, you are so right, the offer is just the begining of the work we do to successfully close the sale.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) about 4 years ago

Nick & Trudy, you're absolutely right.  AFTER the offer is accepted is showtime, and when an agent can really show why they're ahead of the pack.  I like that you go the extra step to work with the appraiser, not to influence, but to educate on how you came to your price.

Posted by John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,) about 4 years ago

I never realized just how much work agents do until I became a home stager.  Unbelievable!

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) about 4 years ago
Sybil this I think is the most important part of what we do. John, I have had appraisers ask me when making their appointments how I arrived at the price as they could not find a supporting comp, then you know where you are. Never knew though that you should share you had multiple offers. Sharon, I don't think we do a good enough job explaining it to clients either.
Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) about 4 years ago

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