What To Do When A Buyer Makes An Offer On Your Fsbo Home
What should you do when a buyer makes an offer on your For Sale By Owner (FSBO) home in Rhode Island?
If you’re selling your home FSBO in Warwick or anywhere in Rhode Island and an offer just landed in your inbox, congratulations—this is the moment you’ve been working toward. It’s also the moment where things get real, fast. Offers aren’t just about the price; they’re about terms, timelines, legal obligations, and risk. What you do next can protect your equity—or quietly cost you thousands.
Below is a step-by-step guide to what happens after a buyer makes an offer on your FSBO home, what to look out for, and where many Rhode Island FSBO sellers get tripped up.
Step 1: Slow Down and Review the Offer Carefully
The biggest mistake FSBO sellers make is reacting emotionally or too quickly. An offer is not a yes-or-no decision—it’s a proposal.
When reviewing a buyer’s offer, look beyond the purchase price and examine:
Offer price – Is it at, above, or below your asking price?
Financing type – Conventional, FHA, VA, cash, or unknown?
Earnest money deposit – How much is the buyer putting at risk?
Contingencies – Inspection, financing, appraisal, sale of buyer’s home
Closing timeline – Is it realistic for your situation?
Requested concessions – Closing cost credits, repairs, inclusions
In Rhode Island, offers are typically written using a Purchase & Sales Agreement. Once signed by both parties, this becomes a legally binding contract—not a handshake deal.
This is where many FSBO sellers realize they’re no longer just “marketing a home.” They’re negotiating a legal agreement.
Step 2: Verify the Buyer’s Financial Strength
Not all offers are created equal. A strong offer isn’t just about price—it’s about certainty.
Before accepting anything, you should request:
Pre-approval letter (not a pre-qualification)
Proof of funds for cash offers or large down payments
Key questions to consider:
Has the buyer already spoken with a reputable lender?
Is the loan type appropriate for your property?
Are there red flags in the financing timeline?
In competitive Rhode Island markets like Warwick, East Greenwich, Cranston, and North Kingstown, deals often fall apart due to weak financing—not bad intentions.
Step 3: Understand Your Negotiation Options
When a buyer submits an offer, you typically have three choices:
Accept the offer as written
Reject the offer outright
Counter the offer (price, terms, or both)
Counteroffers are extremely common, especially in FSBO transactions. You can counter on:
Purchase price
Closing date
Inspection timelines
Concessions or credits
Earnest money amount
Important: once you counter, the original offer is no longer valid. Negotiations can move quickly—or stall entirely—depending on how they’re handled.
Professional negotiators (like seasoned REALTORS®) are trained to keep deals alive while protecting the seller’s position. FSBO sellers often negotiate emotionally without realizing how tone, timing, and wording impact buyer behavior.
Step 4: Be Prepared for the Home Inspection Phase
If your offer includes an inspection contingency (most do), the real negotiation often begins after the inspection—not before.
Common inspection-related outcomes include:
Buyer requests repairs
Buyer asks for a price reduction
Buyer requests a closing cost credit
Buyer threatens to walk away
In Rhode Island, buyers typically have a limited inspection window. Knowing how to respond matters.
FSBO sellers often feel blindsided here. Even well-maintained homes will have inspection findings. The key is knowing what’s reasonable, what’s cosmetic, and what’s a true safety or financing concern.
This is one of the most common points where FSBO deals fall apart.
Step 5: Appraisal and Financing Contingencies
If the buyer is financing the purchase, an appraisal is coming.
If the home appraises:
Great—move forward.
If it comes in low:
The buyer may ask for a price reduction
The buyer may need to bring additional cash
The deal may need to be renegotiated—or canceled
FSBO sellers are often surprised to learn that the agreed-upon price doesn’t control the transaction—the lender does.
Understanding local market value in Warwick, Coventry, Providence, and Central Rhode Island is critical here. Appraisers rely on recent comparable sales, not online estimates or emotional value.
Step 6: Know Your Legal and Disclosure Obligations
Once an offer is accepted, your responsibilities as a seller increase significantly.
Rhode Island sellers must:
Provide required property disclosures
Allow access for inspections and appraisals
Meet contractual deadlines
Coordinate with attorneys, lenders, and title companies
Missing deadlines or mishandling disclosures can expose FSBO sellers to legal risk—even after closing.
This is why many FSBO sellers choose to involve a real estate attorney early, though attorneys typically do not negotiate or manage the transaction the way a full-service real estate agent does.
Step 7: Keep the Deal Alive Through Closing
Between accepted offer and closing day, a lot can go wrong:
Financing delays
Title issues
Buyer hesitation
Repair disputes
Appraisal problems
The more complex the deal, the more active management it requires.
This is where experienced real estate professionals quietly earn their keep—solving problems before they become deal-breakers.
Why FSBO Sellers Often Reconsider After Receiving an Offer
Getting an offer feels like the finish line. In reality, it’s the halfway point.
Many Rhode Island FSBO sellers reach out to The Slocum Home Team after an offer comes in because:
They want help evaluating the offer
They’re unsure how to negotiate inspection issues
They’re concerned about legal or financial exposure
They want to maximize their net proceeds
Nick Slocum or one of The Slocum Home Team’s top agents often steps in at this stage to help sellers understand their options—sometimes confirming they’re on the right track, other times preventing costly mistakes.
Final Thoughts: An Offer Is an Opportunity—If You Handle It Right
Selling a home FSBO in Rhode Island is legal. Handling an offer correctly is where experience matters.
From Warwick to East Greenwich, Cranston to Providence, and throughout Central Rhode Island, the most successful sellers understand this:
The goal isn’t just to accept an offer. It’s to close the right deal, at the right terms, with the least risk and the strongest outcome.
If you’ve received an offer on your FSBO home and want a second set of experienced eyes, talking with Nick Slocum or one of The Slocum Home Team’s top agents can help you move forward with confidence—without pressure, and with clarity.
