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Ask these questions before accepting an offer to buy your apartment

Brick Underground // Jul 29, 2020

If you are selling your apartment right now, you may be wondering—with so much uncertainty—how to evaluate an offer. An all-cash purchase is often considered the best type of offer because it removes financial questions about the buyer. However, with mortgage rates so low, even buyers who could handle an all-cash offer may opt for financing instead.

Clearly price is important when you are selling but in some circumstances, it makes more sense to take a lower-than-hoped-for offer. John W. Harrison, a broker at CORE, points out this kind of deal could be considered a “stop-loss” against further drop in value, so you’d sell low to avoid a bigger loss later. Ideally, this scenario is rare and your questions will focus on different aspects of the offer.

Original Article: Brick Underground