McClintick Real Estate, Inc.



Posted by McClintick Real Estate, Inc. on 1/11/2018

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 Ė 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 McClintick Real Estate, Inc. on 7/27/2017

Making an offer on a home youíd love to buy is arguably the most stressful part of the buying process. Youíll be worrying about making the right offer, whether youíve presented yourself in the best possible light, and just how much competition youíre up against.

Today weíre going to help you alleviate that anxiety by giving you the most common real estate offer mistakes to avoid, and show you how you can increase your chances of getting the perfect home for you.

1. Do your research on the house

You have a lot of research to do before making an offer on a home. Youíll want to know the price the home formerly sold for and improvements that have been made and that will need to be made if you move in.

It also helps to know the sellerís situation. Are they on a deadline and moving out-of-state? If so, they might be tempted to take one of the earlier offers they receive.

2. Know your own financial limits

Before you ever make an offer youíll need to know how much you can spend. This isnít just a matter of offering the maximum amount youíre preapproved for. Youíll have to factor in moving expenses, final payments on your last rent or mortgage, changes in utility costs, and more.

3. Donít offer your full preapproval amount

Sellers who know that youíve offered your maximum preapproval amount may be wary of selling since they know you lack room to negotiate your budget and therefore might have a higher chance of backing out of the offer. They might favor other buyers who have room to negotiate and account for unexpected changes in their budget or of rising interest rates.

4. Avoid aggressive negotiation

We know the stakes are high for everyone involved in making a real estate deal. However, sellers are more likely to accept the offer of someone they trust and like over someone who seems to be trying to gain leverage.

Always be cordial with your offers and support them with numbers--explain to the seller why you chose the number you did, so that they can understand your reasoning.

5. Donít attempt to gain leverage by waiving a home inspection

By law, you are allowed to have a home professionally inspected before purchase. Waiving this right is sometimes misconstrued as a way to tell a seller that you trust them and donít want to cause them any unnecessary headaches.

The reality of the matter is that if you truly do want to own their home, sellers understand that you want to know what youíre buying.

6. This isnít the only house you can be happy in

Hunting for a home is hard work. Once you find one that seems perfect for you or your family, it can seem like everything depends on your offer being accepted.

However, the fact is there are endless houses on the market, and next week a new one could be put up for sale that is even better than the home youíre hoping for now.

If your offer isnít accepted and you donít feel comfortable committing to a higher price, move on to the next house knowing that you made the best decision under the circumstances.




Categories: Uncategorized