Susan Baghdasarian's Blog
Putting an offer on a home is an exciting event. You don’t want to get so excited that you overlook the important factors that go into buying a home. Follow the tips below before you put an offer on a property.
In order to come up with a price to offer on a home, you need to do some research. You should have a general understanding of the local market. Although your realtor will have a good grasp on this, it’s always a good idea to be an informed buyer. You can work with your realtor to find the right price. You don’t want to blurt out a number that is completely out of line for the neighborhood or market conditions.
A good place to start is by taking a look at what the homes in the the neighborhood are selling for. You can also look at what homes in the area have recently sold for. The advantage to hiring a realtor is that they have easy access to all of this research and information. Be sure that the properties that you look at are comparable to the one that you hope to put an offer on. You can even do this ahead of time if you have an idea of what kind of property you’re looking to buy.
Another useful tool in the research part of making a offer is the history of the property. When did the seller purchase the property? At what price? If the seller has moved in more recently, you may have some wiggle room for negotiations.
Getting pre-approved gives you some buying power. First, you’ll know how much house you can afford. Next, you’ll know that a lender is dedicated to lending you that amount to buy a home. Your offer will be taken more seriously if you have been pre-approved because the seller will know that you can get the funds to purchase the home.
Get The Help Of A Realtor
When you hire a realtor, you’re getting the agent along with the team of people that they work with. Realtors can recommend you to everyone from home inspectors real estate attorneys. An attorney is an especially helpful advocate in the process of buying a home because they can check to be sure that your offer meets the legal requirements within your state and protect your interests as a buyer.
The attorney will also look at the purchase agreement for the home. This will include all of the details of the property transaction:
- The date of the offer
- The address and property description
- Amount offered for the home
- Loan details including the down payment amount
- The closing date
- Any contingencies
These will all be very important to you as a buyer and a lawyer make sure that everything is legally sound will be a great protection for you.
Now, you’ll be ready to seal the deal!
Before you embark on a search for your dream house, it helps to know what to expect during the homebuying journey. If you understand the true cost of purchasing a home, you can map out your property buying strategy accordingly.
Now, let's take a look at three factors that may impact how much you spend to acquire your ideal residence.
1. The Price of a Home
The initial asking price for a house is not necessarily set in stone. In some instances, you may be able to negotiate with a seller and receive a lower price.
However, regardless of the price you negotiate with a seller, you are responsible for paying for a residence. And if you fail to receive a mortgage, you may struggle to make your homeownership dream come true.
It often helps to get pre-approved for a mortgage. That way, you can enter the housing market with a budget in hand. Pre-approval for a mortgage also may enable you to speed up your home search and ensure you can quickly discover a residence that falls within your price range.
2. Closing Costs and Other Homebuying Fees
After a seller accepts your offer to purchase his or her home, there may be various fees that you'll need to pay to finalize your house purchase.
For instance, a buyer who conducts a home inspection will need to pay for this evaluation. He or she likely will need to pay for an appraisal and any closing costs as well.
As you get ready to pursue a house, you may want to put aside extra funds for any potential costs you may encounter throughout the homebuying cycle. Because if you have the necessary funds at your disposal, you may be better equipped than ever before to seamlessly navigate the homebuying journey.
3. Moving Expenses
After you buy a home, you will need to relocate all of your belongings to your new address. To do so, you probably will require moving boxes and packing supplies to ensure your personal belongings can safely reach your new house. As such, you should account for these expenses prior to starting a house search.
Of course, you may want to hire a moving company too. If you want to find out what it costs to hire professional movers, you may want to receive quotes from multiple local moving companies sooner rather than later.
If you need help getting ready to search for a home, a real estate agent is happy to assist you. A real estate agent can offer lots of insights into the potential costs you may encounter at each stage of the property buying journey. In addition, a real estate agent will help you narrow your search for your dream house, conduct home showings and much more.
Start planning for potential costs associated with the homebuying journey – you'll be glad you did. If you budget for the property buying journey, you could increase the likelihood of enjoying a quick, stress-free homebuying experience.
If you want to accomplish your desired results during the home selling journey, you should strive to host lots of showings. Fortunately, we're here to help you prepare for home showings and ensure you are ready to host showings at any time.
Now, let's take a look at three tips to help you prepare for a home showing.
1. Keep Your Home Neat and Tidy
Let's face it – maintaining a pristine home can be difficult. But if you allocate time and energy to perform various home maintenance tasks daily, you can keep your home show-ready.
Cleaning up after yourself can make a world of difference. For instance, wiping down kitchen countertops after cooking a meal enables you to avoid a long, arduous kitchen clean-up at a later time.
You also may want to create a home cleaning schedule. By planning daily or weekly chores like vacuuming the rugs or cleaning the bathroom, you can ensure your house will look great at all times.
2. Be Flexible
If a homebuyer submits a last-minute request for a home showing, it generally is a good idea to try to accommodate the buyer's request. By doing so, you can show your home to many prospective buyers and increase the likelihood of receiving an offer to purchase.
A flexible home seller usually is a successful home seller. Therefore, if a buyer wants to view your home, it is important to remember that each showing brings you one step closer to selling your residence.
Ultimately, if you maintain flexibility, you can make it easy for dozens of potential buyers to view your residence. And as a result, you may be able to accelerate the home selling process.
3. Eliminate Clutter
Clutter is something that all home sellers can live without. Because if a home is filled with clutter, it may be tough for prospective buyers to appreciate the full size and beauty of a residence.
For home sellers, it is important to remove clutter immediately. A home seller can rent a storage unit to hold excess items until his or her residence sells. Or, it may be beneficial to host a yard sale or list excess items online to cut down on clutter.
As you prepare to sell your home, you may want to hire a real estate agent as well. In fact, a real estate agent will do everything possible to help you achieve the optimal results during any home showing.
Typically, a real estate agent will offer recommendations and tips to help you prepare your residence for the housing market. If you receive a request to view your home, a real estate agent will notify you accordingly. And after a home showing is complete, a real estate agent will provide you with unbiased feedback to ensure you can update your property selling strategy as needed.
Ready to host a home showing? Use the aforementioned tips, and you can get ready to showcase your residence to potential buyers and bolster your chances of enjoying a fast, profitable house selling experience.
It generally is a good idea to bring your A-game to the home selling journey. Because if you fail to put your best foot forward, it may take many weeks or months to stir up interest in your residence.
Ultimately, there are lots of things that you can do to generate interest in your home, such as:
1. Bolster Your Home's Curb Appeal
Your home only gets one chance to make a positive first impression on buyers. If your residence boasts exceptional curb appeal, your house is sure to make a great first impression.
Typically, upgrading a house's curb appeal can be quick and simple. Performing lawn care tasks like trimming the hedges and removing debris from walkways is ideal. Also, you may want to fix any cracked or damaged home siding.
If you need help with home exterior enhancements, you can always reach out to local professionals for assistance as well. By hiring home improvement specialists, you can bolster your residence's curb appeal without delay.
2. Set an Aggressive Initial Asking Price
The initial asking price you set for your home can have far-flung effects on the house selling journey. If you establish an aggressive initial asking price for your house, you could accelerate the home selling cycle.
To determine the best price for your home, it may be beneficial to conduct an appraisal. Thanks to an appraisal, you can receive a property valuation that you can use to help you decide how to price your house.
In addition, you may want to perform an inspection before you list your residence. After an inspection, you'll receive a report that details any underlying problems with your house. You then can use this report to prioritize home repairs and complete property upgrades so you can get the best price for your residence.
3. Work with a Real Estate Agent
A real estate agent knows what it takes to sell a home as quickly as possible. At the same time, a real estate agent understands how to help a seller maximize his or her house sale earnings. Thus, a real estate agent can provide insights and recommendations that allow you to achieve your desired home selling results.
With support from a real estate agent, you can receive expert guidance as you navigate the home selling journey. A real estate agent will work with you throughout this journey and ensure you can get the help you need to succeed. Plus, a real estate agent will respond to any of your home selling questions and teach you everything you need to know about selling a residence.
When it comes to selling a home, it is important to work hard to accomplish your goals. If you take advantage of the aforementioned tips, you can bring your A-game to the home selling journey. As a result, you can boost the likelihood of enjoying a memorable house selling experience.
Family members and friends are loved ones who play important roles in your life. However, when it comes to sharing the news that you've decided to sell your home, it sometimes can be difficult to prevent these loved from sabotaging your home sale.
Lucky for you, there are many simple ways to reduce the risk that loved ones can hinder your ability to sell your residence.
Now, let's take a look at three tips to keep family members and friends involved in the home selling process.
1. Meet with Family Members and Friends
Don't wait to inform family members and friends about your decision to sell your house. Instead, meet with loved ones so you can discuss your home selling plans with them.
Face-to-face meetings with family members and friends are ideal. These meetings will allow you to explain why you decided to sell your home, where you plan to move and much more.
In addition, meeting with family members and friends shows loved ones that you care about their thoughts and feelings. It also sets the stage to involve your loved ones in the home selling process – something that may help you get the best results possible.
2. Respond to Loved Ones' Home Selling Questions
In all likelihood, family members and friends will have lots of questions about your decision to sell your home. If you plan ahead for potential questions, you should have no trouble responding to loved ones' queries accordingly.
It may be tough to move further away from loved ones. But if you prepare before you meet with family members and friends, you can improve your chances of remaining calm, cool and collected as you share your home selling news.
Furthermore, it is important to remember that loved ones might not always agree with your home selling decision.
On the other hand, family members and friends should be ready to stick with you and support your decision, regardless of whether they agree with it. By doing so, your loved ones can provide you with the assistance you need to streamline the home selling process.
3. Discuss Your Options with a Real Estate Agent
For those who want to get their loved ones involved the home selling cycle, meeting with a real estate agent may prove to be a great first step.
A real estate agent can provide recommendations and suggestions about how to share your home selling news with family members and friends. Plus, this housing market professional can respond to your home selling concerns and queries at any time.
Perhaps best of all, a real estate agent will serve as a great guide throughout the home selling process. He or she will help you add your residence to the real estate market, promote your house to potential property buyers and negotiate with homebuyers on your behalf.
Don't worry about telling family members and friends about your decision to sell your house. Conversely, use these tips, and you can prevent your loved ones from sabotaging your home sale.