Understand the buyer’s reasoning.
Ask which comparable properties the buyer considered and how they assessed your home’s current condition.
An investor’s price may account for renovation, holding and resale costs, uncertainty, and profit. Ask what assumptions have been made and seek an independent perspective if you want one.
Request a net proceeds estimate.
Ask the title or escrow company for an itemized estimate. The purchase price can be reduced by mortgage balances, liens, taxes, and transaction costs allocated to you.
A promise of no service fee does not necessarily mean you receive every dollar of the purchase price.
Read the conditions.
- Who is the buyer, and can the contract be assigned?
- How much earnest money is deposited, and when?
- What inspections or other contingencies apply?
- Can the price change, and in what circumstances?
- What are the closing and possession dates?
- Who pays each cost, and what happens if the sale does not close?