Sellers Need a Hero: Why the Offer Is Only the Beginning

Getting your house under contract feels like a victory.

You accepted an offer. The sign changes to UNDER CONTRACT. You start thinking about moving, buying your next home, paying off debt, or finally accessing the equity you have built over the years.

But getting under contract is not the finish line.

In many ways, that is when the real transaction begins.

Ohio Purchase Contracts Give Buyers Important Protections

Here in the Greater Dayton and Cincinnati markets, our commonly used purchase contracts contain several protections for buyers.

Those may include:

• Inspection contingencies

• Financing contingencies

• Appraisal protections

• Insurance requirements

• Title-related protections

• Other negotiated contingencies

These protections exist for legitimate reasons. A buyer should not necessarily be forced to purchase a house when an agreed-upon contingency is not satisfied.

But for sellers, those protections can also create additional risk between accepting an offer and actually getting to closing.

Earnest money is often refundable when a buyer is properly terminating under a contingency in the contract. And when there is a dispute over who should receive the earnest money, it is not necessarily just handed over to the seller.

That distinction can become extremely important.

The Buyer May Move On. The Seller Still Has a Problem.

Imagine your buyer is supposed to close tomorrow.

Maybe they went out and bought a new car, added a bunch of debt, and now no longer qualify for the mortgage.

Or maybe something came up during the inspection weeks earlier. You agreed to make the repair, hired a qualified professional, and completed the work, but now the buyer is unhappy with how it was done and the transaction is suddenly in jeopardy.

Maybe the appraisal comes in below the purchase price.

That is where knowing the strength of the buyer’s financing before accepting the offer can matter.

How much cash does the buyer actually have available?

How much are they putting down?

Could they still close if the appraisal came in $5,000 or $10,000 short?

Did the listing agent ask those questions and understand what the buyer was actually capable of before recommending the offer?

The purchase price is only one part of an offer.

A strong seller’s advocate should be trying to understand as much of the buyer’s financial strength and flexibility as reasonably possible before the seller commits to taking their home off the market.

Because if financing, appraisal, repairs, or another contingency causes the transaction to fall apart, the buyer may have contractual protections allowing them to move on.

The seller is the one who may be left with the house, lost market time, additional payments, and plans that suddenly have to change.

Sellers Usually Have a Reason They Need to Close

People rarely sell a house simply because they felt like putting a sign in the yard.

Maybe you are selling because you found your dream home.

Maybe you have already purchased another property and are temporarily carrying two mortgage payments.

Maybe you lost your job and planned to use your equity to catch up on bills.

Maybe you are relocating for work.

Maybe you are downsizing for retirement.

Maybe you inherited a property that needs to be settled.

Maybe there has been a divorce, growing family, financial hardship, or another major life change.

Whatever the reason, your plans may depend on that transaction actually making it to closing.

When the deal falls apart, the seller may lose weeks of marketing time, have to put the property back on the market, continue making mortgage and utility payments, lose the property they planned to purchase, or face other financial consequences.

And depending on the circumstances, there may be little or no earnest money available to compensate the seller for that lost time and disruption.

That Is Why Sellers Need an Advocate

A listing agent’s job should be about much more than putting your home on the MLS and finding someone willing to make an offer.

The structure and strength of that offer matter.

When I represent a seller, I want to know more than just the purchase price.

How strong is the buyer’s financing?

How much are they putting down?

How much earnest money are they willing to commit?

And more importantly, how much of that earnest money can potentially become truly committed as the transaction moves forward?

Over the years, I’ve developed additional contract language and addenda designed to give sellers another layer of protection once major contingencies have been satisfied.

Depending on the situation, that may involve stronger earnest-money terms, additional deposits for extensions, tighter contingency deadlines, financing safeguards, or other negotiated provisions designed to create more commitment to actually closing.

I do not believe every seller needs the exact same strategy.

The key is understanding the risks in that particular offer and structuring the contract accordingly.

I also want to know:

How long are the inspection, appraisal, and financing periods?

Has the lender actually reviewed the buyer’s income, assets, and credit?

If the appraisal comes in short, how much flexibility does the buyer realistically have?

What loan product are they using?

How strong is their down payment?

And what protections can we negotiate before the seller takes their home off the market?

The goal is simple:

Reduce unnecessary risk, strengthen the transaction, and create another layer of protection for the seller between accepting an offer and actually getting to closing.

The Highest Offer Is Not Always the Best Offer

A buyer offering the most money on paper is not automatically the strongest buyer.

Sometimes a slightly lower offer with stronger financing, more committed earnest money, shorter contingency periods, greater appraisal flexibility, or better overall terms can ultimately put the seller in a much safer position.

That is why I believe sellers deserve someone who looks beyond the number at the top of the contract.

Because getting your house UNDER CONTRACT is exciting.

Getting it CLOSED is what actually matters.

If you are thinking about selling a home and want someone focused on protecting your equity, strengthening the deal, and helping you get all the way to the closing table, call or text Dakota Shannon.

Protecting sellers. Protecting equity. Helping you get to closing.