RE/MAX Integrity
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Posted by RE/MAX Integrity on 8/26/2018

If you buy or sell a home, it is normal to expect negotiations after an initial offer is submitted. However, differentiating between a "fair" counter proposal and an exorbitant offer sometimes can be difficult.

Lucky for you, we're here to help homebuyers and home sellers submit a successful counter offer at any time.

Now, let's take a look at three best practices to help you create a successful counter proposal.

1. Consider Your Counterpart's Perspective

If you are buying a home, consider the seller's perspective. Or, if you're selling a house, evaluate the buyer's perspective. In both scenarios, you can gain insights into what your counterpart might be thinking and tailor your counter offer accordingly.

For example, if a house has been available for several weeks or months, a homebuyer should consider this information as he or she preps a counter proposal. By doing so, a homebuyer can weigh the pros and cons of waiting out a buyer's market and craft an effective counter offer.

On the other hand, if a home seller has several offers in hand, this seller may want to consider submitting a counter offer that matches or exceeds a house's initial asking price. With a seller's market in place, a home seller should have no trouble stirring up plenty of interest in a home, even if a buyer rejects a counter proposal.

2. Evaluate the Housing Market

Take a look at the prices of available houses in your city or town. This housing market data can help you differentiate between a buyer's and seller's market – something that may prove to be exceedingly valuable as you put together a counter offer.

Also, examine the prices of recently sold houses that are similar to the home that you want to buy or sell. By leveraging this housing market data, you can evaluate the prices of similar properties and boost your chances of submitting a competitive counter proposal.

3. Consult with a Real Estate Agent

If you're struggling to create a fair counter offer, it certainly helps to consult with a real estate agent.

Ultimately, a real estate agent is committed to helping homebuyers and home sellers achieve their respective goals. This housing market professional can provide a wealth of housing market data to help a homebuyer or home seller craft a viable offer. Furthermore, a real estate agent is happy to provide honest, unbiased home offer recommendations, ensuring both buyers and sellers can make informed decisions.

Let's not forget about the support that a real estate agent provides throughout the homebuying and home selling journey, either. A real estate agent will be ready to respond to a buyer's or seller's questions without delay. Plus, this housing market professional will go above and beyond the call of duty to ensure all parties involved in a home sale enjoy a seamless experience.

Ready to negotiate a counter offer? Use the aforementioned best practices, and you can quickly and effortlessly create a successful counter proposal.




Tags: Offer to Purchase   offer  
Categories: Uncategorized  


Posted by RE/MAX Integrity on 2/18/2018

If you’re a first-time homebuyer you might be worried or anxious about the process of making an offer on a home. After all, negotiating isn’t something most of us look forward to on a day to day basis and we try to avoid it when possible. When it comes to buying a home, however, negotiating is usually part of the process.

One of the benefits of working with a real estate agent is that they have the knowledge and expertise to help you out through the negotiation process. Not only will they help you formulate your offer, but they’ll also present the offer for you and handle the in-person negotiations.

Buyer’s vs seller’s market

Whether or not the odds are in your favor depends on many things. One important factor is the state of the real estate marketing. In a seller’s market, which is what we’re in right now, there are more buyers looking for homes than there are sellers trying to sell them.

However, you can still edge past the competition in a seller’s market if you plan accordingly. This is when negotiation comes into play, and when effective negotiation can get your offer accepted where others are declined.

Time is of the essence

When you’re shopping for a home in a seller’s market, you’ll need to be swift with your offer and counteroffers to stay ahead of other prospective buyers. However, being too hasty with your offers can seem imposing or reckless. It’s better to take a day longer to come up with a more effective offer than it is to make an offer that looks bad to the seller.

Be clear and concise

Just as you’re nervous making offers on a home, sellers are usually nervous fielding them. So, if you want to make things easier for you and your seller, make sure your offer is simple and straightforward.

This involves removing unnecessary contingencies and sticking to the contract basics--inspection, appraisal, and financing. If the seller receives another offer that is riddled with contingencies, they might prefer to work with you since you presented them with a simple contract.

Be prepared

Having your paperwork in order, getting preapproved, and making yourself available as much as possible will go a long way in the negotiation process. Now more than ever it’s important to be well-organized.

Do your homework on the house and neighborhood you’re interested in. Make sure you know if there is a lot of interest in the area and the house in particular. This will let you know how much breathing room you have.

Getting preapproved will not only help you know the limits you can offer but it will also signal to the seller that you’re a serious buyer.





Posted by RE/MAX Integrity on 2/5/2018

Receiving multiple offers on a residence is a home seller's dream come true. However, if a home seller faces a tight deadline to review several homebuying proposals simultaneously, making the right decision may prove to be exceedingly difficult.

Ultimately, evaluating multiple home offers at the same time can be quick and seamless – here are three tips to ensure that you can review various home offers and make an informed decision.

1. Consider the Homebuyer's Perspective

Although you probably won't be able to find out the identity of a homebuyer who submits an offer on your home, you may be able to learn about the homebuyer's perspective if you study a home offer closely.

For example, a homebuyer who wants to close on a residence as soon as possible may face a time crunch. And if this buyer has fallen in love with your home, he or she may do anything possible to acquire it.

On the other hand, a homebuyer who submits a lowball proposal may be looking for a bargain. Therefore, this home offer may fall far below your initial expectations, and you should not hesitate to decline or counter the proposal.

2. Analyze the Housing Market

Operating in a buyer's market or a seller's market may dictate how you proceed with multiple offers on your house.

If you've listed a house in a seller's market, the number of homebuyers likely exceeds the number of first-rate houses that are available. As such, you may want to accept a home offer in a seller's market only if it matches or exceeds your expectations.

Comparatively, if you're working in a buyer's market, there likely is an abundance of high-quality residences and a shortage of homebuyers. Thus, you may be more inclined to accept a home offer that nets you the biggest profit – even if the home offer falls shy of your initial home selling expectations.

3. Collaborate with a Real Estate Agent

If you're unsure about how to approach multiple offers on your home, it certainly pays to consult with a real estate agent. In fact, a real estate agent can help you examine various offers and decide which home offer – if any – is right for you.

By hiring a real estate agent, you'll gain an expert ally who will support you throughout the home selling journey.

Typically, a real estate agent will learn about your home selling goals and ensure you can set a competitive price for your residence. He or she also will host home showings and open houses, negotiate with homebuyers on your behalf and do everything possible to help you get the best price for your home, regardless of the real estate market's conditions.

Perhaps best of all, a real estate agent is prepared to respond to your home selling concerns and queries. And if you have questions about a home offer, your real estate agent is available to respond to your questions at any time.

Take the guesswork out of evaluating multiple offers on your home – use the aforementioned tips, and you can determine the best course of action based on the home offers at your disposal.





Posted by RE/MAX Integrity on 2/26/2017

The housing market presents many opportunities for homebuyers. And after the right amount of research, you're sure to find plenty of exceptional houses that suit you well. But how do you know when you're ready to submit an offer on a residence? Determining the "perfect" offer for a house is key, and if you feel comfortable with your proposal, you may be better equipped to receive a resounding "Yes" from a home seller. Improve your chances of submitting the perfect offer on a residence – here are three tips that you can use to submit the right offer on a home: 1. Consider the Home Seller's Perspective. Of course, when you submit an offer, you likely want to make a proposal that fits your needs and budget. On the other hand, you must consider the home seller and ensure your offer represents a fair deal for both sides. If you submit a "lowball" proposal, there's a strong chance that a home seller will reject it immediately. Conversely, if you submit an above-average proposal, you may wind up paying a price that exceeds your budget. To make the right offer, evaluate the home seller's price as well as the price of similar homes in an area. By doing so, you'll be better equipped to make an offer that corresponds to the current housing market. Also, don't be afraid to discuss your proposal options with your real estate agent, as this professional may be able to offer insights that you can use to boost your chances of getting a "Yes" from a home seller. 2. Prepare for Plan B. Even if you consider your offer to be fair for both you and a home seller, there are no guarantees that a home seller will feel the same way. Thus, you need to be prepared to act quickly in the event that a home seller declines your offer. If a home seller says "No" to your proposal, you can always submit another offer. Or, you may want to consider moving on and evaluating other homes that are available. 3. Be Realistic. It is essential to feel comfortable with an offer you submit on a house. And the moment things start to make you feel anxious, you may want to reconsider your options. For example, a home seller may counter your initial proposal, but you might lack the finances to meet this seller's expectations. In this scenario, you should be unafraid to walk away. That way, you can avoid the dangers associated with over-extending your budget, which could put you in a tough financial position down the line. Remember, the perfect offer on a residence is one that fulfills the needs of both a homebuyer and home seller. If you feel uncomfortable with a home seller's counter offer, you need to understand the situation and act accordingly. Submitting the perfect offer can be tricky, especially if you're dealing with a home seller who sets the bar high for his or her residence. Fortunately, your real estate agent can help you alleviate the stress commonly associated with making an offer and ensure you are fully supported throughout the homebuying process. Work toward submitting the perfect offer on a home, and you can bolster your chances of a home seller accepting your proposal.





Posted by RE/MAX Integrity on 11/4/2013

After lots of searching you have found the house that you'd like to call home. Next step, you'll need to make an offer. Purchase contracts vary from state to state but a basic offer includes the price you're willing to pay for the house, your financing terms, and contingencies. When it is time to put your offer on paper you will want to make sure it is well planned. There are seven key elements to a good offer: 1. A realistic offering price In order to put forth a great offer you will want to set your price based on similar homes recently sold in the neighborhood. Your real estate agent will help you look at comparable properties to determine that price. You will also want to keep in mind the state of the market in your area. If homes are selling quickly and receiving multiple offers, you'll need to bid competitively. If home sales are slower you may want to be a little more conservative in your offer. 2. Realistic financing terms Always make sure you are pre-approved for a loan before making an offer. Include proof that you are pre-approved with your offer, many lenders will give you a letter. 3. A property inspection clause A home inspection clause will give you a chance to have the property inspected. You will want to use a professional home inspector to thoroughly inspect the property you are buying. 4. Any concessions or contingencies Sometimes there are additional items that should be covered in the offer. You will want to outline any concessions like closing costs or repairs. If you are financing your home you will need to include a financing contingency. 5. Conveyances Always put in the offer what is included in the sale. For instance, a washer and dryer or any other items that are included in the sale of the property. 6. A deadline An offer should always include a deadline for a response. 7. It is all in writing Everything should always be in writing. Never rely on verbal agreements.