You worked hard on your house so it could show well for your first open house. The rooms are freshly painted, everything is neat and tidy, the yard is free of clutter, the grass is green, everything is perfect. People are coming in and out, and raving about your home. Finally, someone gives you an offer for your home. This is what you've been waiting for, but what do you do with an offer? Here are some tips to keep in mind when the time comes to deal with an offer.
Buyers who are willing to put in an offer for your house should have some type of lender letter with them. If they do not, but are still interested in putting in an offer for your house, there is another route you can go through in order to not allow them out of the house before making an offer. Set up with some willing lenders if they can send someone to your house to be there for the open house to assist potential homebuyers with their lender letters, and to help them figure out if they can afford it or not. You can greet your potential buyers at the door and introduce them to the lender willing to help out, and they can direct all financial questions to them. This way, that burden is taken off of you and put somewhere else so you can concentrate on the task at hand, which is showing off your lovely home.
You also want to discuss with a homebuyer who gives you an offer how you want to handle the contract after the fact. If you have an attorney, or if they want to use their own attorney, you need to settle on this in order to draw up the contract to both parties' liking. Figure out how you want to handle it before the offer is even made, especially if the buyer is confused with the whole situation.
This is just one piece of the extra large pie that is selling your home leading up to the open house. But by doing this piece of very important homework, you will be prepared to take the step from open house to being under contract for the home, and then completing the transaction.
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