With the real estate game in a state of constant flux, getting an offer on your house or condo might seem encouraging enough. However, there's always the possibility that your property might hit the market hot, and this could mean more than one offer on your home. While having multiple offers can be the best of all outcomes, there are a few ways to handle this situation and make the most of your home sale. Communication Is Key With Potential Buyers The occurrence of having multiple offers on your home may put you in the power position, but you'll want to keep potential buyers in the loop and … [Read more...]
How to Submit an Offer Below the Asking Price Without Spooking the Seller
You've found it: A large new home for your family. It's in the area of the city that you love, with the perfect architectural style and lots of room for entertaining guests. It would have been perfect for you, but there's only one problem - you're not quite ready to pay the price the seller is asking for. You'll have to put in an offer below the seller's asking price - a risky move. Although you will be rolling the dice with an offer below asking price, there are ways that you can increase the likelihood that your offer will be successful. Before you submit your offer, use these three … [Read more...]
Selling Your Home? 3 Reasons Why You May Need to Accept a Bid That’s Below Your Asking Price
When a homeowner makes the decision to sell his or her property, it is most common for a skilled real estate professional to provide valuation services so that a reasonable asking price can be established. While the asking price may seem fair to the homeowner, the fact is that not all properties will sell at the original asking price. There are several instances when a homeowner may need to consider accepting a bid that is below the asking price. When The Property Has Been On The Market For A While Most homeowners will learn about the average listing time for similar properties in the market … [Read more...]
Understanding Escalation Clauses and When You’ll Want to Automatically Raise Your Offer
Real estate sales contracts can be confusing, and there seem to be contingencies and special circumstances for many different events built into a standard contract. One option that your real estate agent may ask if you are interested in is an escalation clause. This is typically an optional clause that you can choose to invoke if you desire, so you should take time to learn more about what it is before you make your offer. What Is an Escalation Clause? It can take a considerable amount of effort and time on your part to locate the perfect home to purchase, and the last thing you may want to do … [Read more...]
Received an Offer for Your Home? How to Respond with a Counter-offer Asking for a Higher Price
Getting an offer on your house is the first step in getting it sold, but buyers often feel that they have to come in lower than your asking price. After all, everyone wants the deal to work out in their favor. If the offer you received isn't quite what you hoped, you can always make a counter-offer. Getting the details right can help make your deal go more smoothly. Deciding On A Price When your real estate agent helped you set the price of your home, you already had an idea of what it should fetch in the marketplace. If the offer wasn't far off from your asking price, it's acceptable to … [Read more...]