Accepting an Offer

You’ve opened the doors to your well-prepared, well-marketed home, and now you have an offer (or multiple offers). In Hawaii, the offer must be in writing. And if you are using a real estate agent, they must present you all written offers, even if you already are considering an unaccepted offer.

Written Purchase Contract

In Hawaii, an offer will typically be written with the Purchase Contract. This Purchase Contract includes information about the following (and more):

The Purchase Contract should be thoroughly reviewed when accepting an offer, and your real estate professional or an attorney can assist you in understanding the legal terms. But for now, here is some important information that you will need to consider before accepting an offer on your Hawaii home.

What are the sellers main responsibilities in the purchase contract?

While the buyer often has financing and inspection contingencies, the seller’s responsibilities in the purchase contract include the following:

What are the secrets to good negotiating?

If the offer isn’t quite what you are looking for, write a counteroffer, which can be completed on the Purchase Contract. This may take some negotiation, but with a few strategies and some persistence, you could walk away with your desired price – or more.

To negotiate well, here are a few tips to follow:

Does a seller have to consider buyer contingencies?

In Hawaii, buyers often don’t often make many contingencies, as there is a limited supply of housing and it’s generally a sellers’ market. However, considering contingencies, such as installing new appliances, may make sense if the purchase price is right and the market is slower. Remember that contingencies are written into the purchase contract and are only negotiable before you accept the offer.

Should I accept the offer?

If a house is priced right and presented well, multiple offers within the first few days of listing are not uncommon in the Hawaii housing market.

If you receive a full price or above-asking price offer that puts at least 20 percent down and includes a mortgage pre-qualification letter, it might be wise to accept the offer; this offer gives you the price you want, and the buyer should have a fairly easy mortgage qualification process.

However, there are other times when you might be asking yourself if you should accept the offer. Here are some thoughts to consider when deciding whether to accept an offer:

If the offer amount is sufficient and the buyer is pre-approved for a mortgage with money down, sign on the dotted line. Now it is time to close the deal in escrow.

Also read

Sellers' Guide

Sellers' Guide

7 signals that may indicate it's time to sell your home.