Frequently Asked Question
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Yes, you could... But you wouldn’t want to do that. Once a purchase offer is accepted, it stands as a legal contract. There are legal ramifications if you were to follow through and drop the buyer's Agreement of Purchase and Sale without their mutual agreement. The best thing to do is to get a Mutual Release signed by both the Buyer and Seller. If the Buyer wishes to complete the sale, then you should definitely also complete the sale. You could get sued otherwise!
Not necessarily. Lots of terms and conditions come with a property purchase offers. And not just the money. You can go with a lower priced offer if you find a better terms and conditions. Also, in any case, you can go with a counteroffer to one or more buyers.
Beware, however, that if you turn down a full-priced offer, you may owe your agent a full commission even if you decide not to sell your home.
You must take into account the prevailing state of the real estate market and especially local market conditions. The real estate market continually changes, and market fluctuations affect property values. So it is critical to determine your listing price based on the most recent comparable sales in your neighborhood. It would be a good idea to get a CMA, also known as Comparable Market Analysis.
Along with economic factors such as supply and demand, the time of year you choose to sell can impact both the length of time it takes to sell your home and its ultimate selling price.
Typically, the real estate market picks up around February, continues strong through late May and June, and tapers off during July and August. The summer is usually the busiest time for moving since school is out and buyers may be looking to get their children in school before the new school year. September through November generally marks a rally not as strong as late winter and spring, followed by a slowdown from Thanksgiving through and beyond the Christmas and New Year holiday period.