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Get Ready for Good

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Before inputting the data, here are a few tips that will make things quicker and easier.  Have your home offer handy and remember offers that have been completed using current Tennessee Association of REALTOR® forms will be much easier to use, as the Objective Offer data input instructions will even tell you which line number to use.

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Also, it is very important that the listing agent spends adequate time conducting a legitimate and accurate comparative market analysis (CMA) for the subject property (click here for suggested CMA tips).  If an appraisal has been done, it should be used.  Objective Offer places more significance in the CMA than the list price.  This is because a high list price and an associated offer that contains an appraisal contingency will likely result in the offer never going to closing.​​

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​Here's a summary of the information you'll need:

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  • Certain details of the offer (have the offer handy).

  • CMA (or appraisal) value.

  • Amount of any seller-offered concessions already offered to the buyer, if applicable.

  • Current mortgage payoff for seller, if applicable.

  • Estimated percent of sale proceeds needed by seller for future plans (ask seller), if applicable.

  • Price home was initially bought for by current owner (optional).

  • Any remodel/improvement expenses performed during current ownership (optional).

(See line 40 of TAR form RF401)

Please note: An accurate CMA is critical for your Objective Offer experience. Ensure adequate time was spent on the CMA before proceeding.

Is house currently vacant?
Yes
No

(This is usually an amount that is mentioned in the listing language, if applicable)

Sale proceeds can be estimated by:

offer price X 0.934 (6.6% closing costs) - loan payoff - any concessions.

Offer Type
Loan (conventional, VA, FHA, etc.)
Cash or equivalent

(See lines 57-59, 86 of TAR form RF401)

Does the offer have an appraisal contingency?
Yes
No

(See line 103 of TAR Form RF401)

Does the offer have a sale contingency?
Yes
No

(Review offer, see any addendums/special notes)

Is offer contingent on an inspection?
Yes
No

(See line 346 of TAR Form RF401)

(See lines 157/158 of TAR Form RF401)

(Review offer, look for any addendums/special notes)

Does the offer contain an escalation clause?
Yes
No

(Review offer, look for any addendums/special notes)

Has the buyer provided a written lender pre-approval or funds verification notice?
Yes
No
Would you like Objective Offer to present the seller's estimated tax implications for this offer?
Yes
No
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