Tina O'Brien's Blog
If you receive an offer to purchase from a property buyer and decide to submit a counter-offer, it is important to err on the side of caution. Because if your counter-proposal fails to meet a buyer's expectations, you risk missing out on the opportunity to sell your house and maximize your home sale earnings.
When it comes to reviewing an offer to purchase and submitting a counter-proposal, it helps to prepare as much as possible. Fortunately, we're here to help you perform a full analysis of a homebuying proposal and ensure that you can submit a counter-offer that matches the expectations of both you and a buyer.
Now, let's take a look at three tips to help you put together a "fair" counter-proposal to a buyer's offer to purchase your home.
1. Use Housing Market Data to Your Advantage
Take a look at local housing market data – you'll be glad you did. If you take a data-driven approach to craft a counter-offer, you may be better equipped than ever before to put together a counter-proposal that meets the needs of all parties involved in a property sale.
Analyze the prices of recently sold houses in your city or town that are similar to your own. Furthermore, find out how long these residences were available before they sold. With this housing market data in hand, you should have no trouble crafting a fair counter-proposal.
2. Consider the Buyer's Perspective
As you examine a buyer's initial offer to purchase, think about why this individual chose to submit the proposal. Try not to get emotional if you feel the offer is too low; instead, think about how you can work with a buyer to find common ground.
Oftentimes, it helps to maintain open communication with a buyer. If you put together an counter-proposal that accounts for the buyer's perspective and keep in touch with this individual, you and a buyer may be able to work together to come to a fair agreement.
3. Consult with a Real Estate Agent
If you are unsure about what to propose as part of a counter-offer, there is no need to stress. In fact, if you collaborate with a real estate agent, you can get the assistance you need to craft a counter-proposal that may lead to an instant "Yes" from a buyer.
Usually, a real estate agent will inform you about an offer to purchase your home and provide recommendations and suggestions as you craft a counter-proposal. He or she also will negotiate with a buyer's agent on your behalf. And if you ever have concerns or questions during the property selling journey, a real estate agent is happy to address them.
Allocate time and resources as you craft a counter-offer. If you consider the current state of the real estate market and the buyer's perspective, you could increase your chances of putting together a counter-proposal to close a deal on your home. Perhaps best of all, you can submit a counter-offer that allows both you and a buyer to achieve your respective goals faster than ever before.
Adding a quality home to the real estate market offers no guarantees. And if you fail to set a competitive initial asking price for your residence, your home may linger on the housing market for many weeks or months. Fortunately, we're here to teach you about the real estate sector and ensure you can use your home's initial asking price to differentiate your residence from the competition.
Now, let's take a look at three tips to help you establish the right price for your house prior to listing your residence.
1. Analyze the Housing Market
The housing market is tough to navigate, particularly for a seller who wants to separate his or her residence from the crowd. Thankfully, an informed home seller can review housing market data and use this information to establish a price range for his or her house.
A home seller who assesses the real estate sector can differentiate a buyer's market from a seller's one. This seller will collect and analyze housing market data related to the prices of recently sold residences and how long these houses were listed before they sold. Then, this seller can determine whether he or she is preparing to enter a buyer's or seller's market.
2. Conduct a Home Inspection and Appraisal
Although a home inspection usually is requested by a buyer after a seller accepts an offer to purchase, it may be beneficial for a seller to conduct an inspection before listing a home. An inspection enables a seller to identify problem areas in a residence. As a result, a seller can use an inspection report to prioritize home improvement projects, complete home repairs and boost the value of his or her house.
A home appraisal also may prove to be exceedingly valuable to a seller. In fact, an appraisal provides a seller with a property valuation that he or she can use to establish a competitive initial home asking price.
3. Hire a Real Estate Agent
There is no telling how homebuyers will respond to a new house that becomes available. Lucky for you, a real estate agent can help you plan ahead to list your house and ensure you can establish a competitive price for your home from day one of the property selling journey.
A real estate agent is an expert resource that you can leverage when you sell your house. He or she can help you review housing market data from a variety of sources. Furthermore, a real estate agent can put you in touch with the top home inspectors and appraisers. Perhaps best of all, a real estate agent takes the guesswork out of pricing a house and will help you set an initial home asking price that matches buyers' expectations.
When it comes to selling your house and maximizing its value, there is no need to work alone. If you hire a real estate agent today, you can get the help you need to showcase your residence to prospective buyers and boost the likelihood of a profitable home sale.
Hectic mornings can make for messy, disorganized bathrooms. Between the mad dash of getting the kids ready for school and ensuring you look presentable for the office who has time to put the toothpaste or hairspray back nevermind neatly so? If you’re dreaming of a clean, organized space to get ready for the day keep reading for some easy to implement tips.
Begin your project with a clean slate by tossing out any outdated products or items you simply don’t use. Check how long to keep an item for by the image of an open container with a number followed by a capital m inside of it. This indicates how many months to keep a product for after opening. If you can’t even remember when you bought a product it's safe to assume its time for a replacement.
Take a tip from the minimalists and keep only what you truly use. After all, the less you have the less you will have to dig through to find what you are looking for. Common culprits are hair products, spa-like bath products and piles of towels. If an item is really something you can’t let go of but don’t use often consider moving it to a nearby linen or storage closet.
Once you’ve decided what stays it’s time to put your items away. But before you start shoving everything back into drawers and cabinets take a few minutes to draw up a plan that gives each and every item a “home”. When everything has a dedicated space it belongs in it makes cleanup a breeze, especially on those hectic mornings.
Keep items off the countertops for an uncluttered magazine worthy countertop. Instead, place your families’ go-to items inside the medicine cabinet or top drawers. Try to keep everything in neat organized lines where you won't have to reach behind products to get the one you are looking for. An orderly lineup prevents chaos and products spilling down each time you reach to the back.
Installing clever organizers for small spaces helps to make the most of tiny bathroom spaces. Think more shelves, lazy susans, drawer organizers and roll out trays to get more out of cabinet spaces. A heat tool corral keeps pesky hairdryers and irons neatly organized and at arms-length.
Maximize empty and therefore unused space throughout the room such as over the toilet by installing shelving. You may also consider adding more hooks if you need them to hang up towels and keep them off of the floor.
It may seem like there isn’t any time for keeping an orderly bathroom when you’re just trying to get out the door in the morning. However, with a thorough cleanout and thoughtful organization your bathroom could be even more tidy than you first imagined. It just takes a little time and creativity to make the most of your unique bathroom space. Happy organizing!
Contingencies on a contract to buy a home are there to protect both the buyer and the seller. The contingencies give the buyer the right to back out of the contract if any of these contingencies aren’t met. There are many reasons that buyers back out of deals including financial issues and problems with the home. Below, you’ll find a break down of some of the most common contingencies and what they mean for you as a buyer or a seller.
Most home contracts come with what’s called a financing contingency. This gives you the ability to walk away from a deal if the financing falls through when trying to buy a home. Usually this is due to a credit reason or some other financial reason. You can’t rely on financial cracks to help you to back out of a deal on a home. Lenders will only deny a loan for real financial reasons. There’s no way to ask a lender to lie for you so you can get out of buying a home! This is why you need to make your decision about a home purchase wisely.
This gives the buyer the right to have an inspection on the home within a certain time frame which is usually 5-7 days. If something is really off with the inspection that you as a buyer don’t feel comfortable with, you have the right to back out of a deal without repercussions. While seller disclosures are important, the seller can’t disclose what they don’t know about. That’s why the home inspection is so important. The seller’s disclosure cannot protect you from hidden damages that may cost half of a home’s worth to repair.
If homes are selling fast and you want some secure way to back out of a deal you should consider an appraisal contingency. If the home you want to purchase doesn’t appraise at a price high enough to meet your mortgage requirements, you have a legal way to back out of the deal. For example, if you put down 20 percent of the purchase price of a home and the home doesn't appraise for the value of that purchase price, you’d need to come up with the remainder of the money in cash. An appraisal contingency protects you from having to face this. You’ll still need to have a home inspection done on the home to search for any problems, but an appraisal contingency protects you from any problems with financing and your own disposable amount of cash that could arise due to a home appraising low.
While contingencies aren’t necessary as a homebuyer, they’re highly recommended. Without contingencies, you could be left with a number of expenses such as damages that are extremely costly to fix.