Vanessa Duguerre's Blog
You don't need to be a home selling expert to counter a buyer's offer to purchase your house. In fact, sellers who know what factors to consider as they evaluate a homebuying proposal may be better equipped than others to submit a successful counter-offer.
Now, let's take a look at three factors a seller should consider before countering a buyer's offer to purchase his or her home.
1. Your Home Selling Goals
If an initial offer to purchase your home falls shy of your property selling expectations, there is no need to stress. By countering this proposal, you and a buyer may be able to find common ground. And as a result, both parties may be able to come to an agreement on a house sale.
Analyze your home selling goals closely. And if you find a buyer's offer to purchase comes close to helping you achieve your goals, you may want to submit a counter-proposal.
2. Your Home's Condition
The condition of your home may have far-flung effects on your house selling experience. If your home is in need of assorted upgrades, a buyer may be more inclined than ever before to account for these repairs in his or her offer to purchase. Meanwhile, as a home seller, you need to consider your residence's condition as you assess an offer to purchase and proceed accordingly.
If you feel a buyer's initial offer to purchase your home is low based on your residence's condition, you may want to counter the proposal. However, if you account for the costs of potential home repairs in your counter-proposal, you may be able to come to terms with a buyer on a home selling agreement.
3. Your Home's Price
Although you may have allocated significant time and resources to price your home appropriately based on the current real estate market's conditions, you may receive an offer to purchase that falls short of your expectations. Fortunately, if you submit a counter-proposal, you can make it clear about what price you are willing to accept for your residence. And if you provide a counter-offer to an initial homebuying proposal, you can show a buyer exactly how much he or she will need to pay to purchase your house.
As you analyze an offer to purchase your home, keep in mind that you can always collaborate with a real estate agent too. If you work with a real estate agent, you may be able to gain the insights you need to make an informed property selling decision.
Typically, a real estate agent can help you weigh the pros and cons of accepting, rejecting or countering an offer to purchase your house. If you are looking for in-depth home selling recommendations and suggestions, a real estate agent is happy to provide them to you at your convenience.
Assess an offer to purchase your home carefully – you'll be glad you did. If you feel you may be able to reach an agreement with a buyer, you may want to counter his or her homebuying proposal.
After you receive an offer on your home, how should you respond? Ultimately, there are many questions for a home seller to consider before accepting a proposal, including:
1. What is my home worth?
Did you get your home appraised before you added it to the real estate market? If so, you may want to review a home offer in contrast to your home appraisal. This will give you a better idea about whether the offer is "fair" based on your home's condition.
If you have not received a home appraisal, there's no need to worry. In fact, there are many ways to assess your home to determine whether to accept or decline a proposal.
Check out the prices of comparable residences in your city or town. This will enable you to see how these houses are priced and better understand how to proceed with an offer.
Also, review the prices of homes that recently sold in your area. With this information, you can learn about the current state of the housing market.
2. Are there any other offers to consider?
As a home seller, you'll likely have 24 to 48 hours to respond to an offer on your residence. But if you receive multiple offers at the same time, you'll want to evaluate these proposals in conjunction with one another.
Even if you receive two offers for the exact same price, these proposals may differ.
For example, a homebuyer who has financing in hand will be able to streamline the process of going from homebuyer to homeowner. On the other hand, a homebuyer who submits an offer without financing in hand may require additional time to secure a mortgage from a bank or credit union.
Take a close look at all of the offers on your home. Review these proposals with a fine-tooth comb, and you'll be able to make an informed decision.
3. Does this offer meet or exceed my expectations?
An offer on your home may fall short of your initial asking price, but this offer can still meet or surpass your expectations.
Consider what you hope to accomplish as a home seller as you review an offer.
For instance, if your goal is to sell your home as quickly as possible, you may be more inclined to accept one of the first offers you receive. Or, if you can afford to remain patient, you may want to take a wait-and-see approach to ensure you get an offer that matches or exceeds your initial asking price.
4. What will happen if I accept the offer?
After you accept an offer on your home, a homebuyer likely will want to complete a home inspection.
If the home inspection goes well, the homebuyer probably will proceed with his or her purchase. If it does not, you may need to complete home maintenance or repairs to finalize the purchase agreement.
Remember, if you accept an offer, there are still several steps that will need to be completed before you sell your house. With an expert real estate agent at your side, you'll know exactly what to expect at each stage of the home selling process.
Looking to sell your condo? With assistance from a real estate agent, you can maximize the value of your property.
When it comes to selling a condo, hiring a real estate agent is a must. This housing market professional will set up condo showings, negotiate with condo buyers on your behalf and much more.
As a condo seller, it is important to do everything possible to get the best price for your property. And if you understand what it takes to find the right real estate agent, you may be able to streamline the condo selling journey.
Ultimately, there are many factors that condo sellers need to consider when they evaluate a real estate agent, including:
1. Condo Selling Experience
It is essential to hire a real estate agent who possesses condo selling experience. This housing market professional can take the guesswork out of selling a condo.
A real estate agent with condo selling experience will promote your residence to the right groups of property buyers. This will ensure your condo will stir up plenty of from interest from property buyers as soon as it becomes available.
Plus, a housing market professional can teach you about the real estate sector and help you plan accordingly. He or she will ensure you can avoid any potential hurdles as sell your condo too.
2. Communication Skills
Does a real estate agent go above and beyond the call of duty to stay in touch with condo sellers? If not, he or she may struggle to sell your condo.
A real estate agent should keep you informed at each stage of the condo selling journey. This housing market professional also should respond to your condo selling concerns and queries – without exception.
Perhaps most important, a real estate agent should be unafraid to be honest with you. With an honest real estate agent at your side, you can receive unbiased condo selling recommendations and make informed choices throughout the condo selling journey.
3. Client Referrals
How do past condo sellers rate a real estate agent? Ask a real estate agent for client referrals, and you can receive unparalleled insights into what it's like to work with this housing market professional.
Client referrals are great tools to help you decide whether a particular real estate agent is the best person to guide you along the condo selling journey. These referrals can provide you with insights into a real estate agent's professional demeanor and personality that you may struggle to obtain elsewhere. As a result, client referrals may prove to be exceedingly valuable to condo sellers.
If you need help selling a condo, allocate the necessary time and resources to hire a real estate agent – you'll be glad you did. Real estate agents are available nationwide and understand what it takes to sell a condo in any housing market. Therefore, working with a real estate agent may help you speed up the condo selling process and optimize the value of your property.
If you intend to sell your home, you may want to host a yard sale. Thanks to a yard sale, you can eliminate clutter from your residence. Furthermore, a yard sale enables you to connect with your local community and inform community members about your plans to list your house.
Ultimately, there are many ways to ensure a yard sale is an instant success. These include:
1. Determine Exactly What You Want to Sell
You know you have a lot of items you want to remove from your house before you add it to the real estate market. As such, you should allocate time and resources to determine which items to keep and which items to sell.
If you have a variety of items you intend to keep, you may want to rent a storage unit. With a storage unit, you can keep your personal belongings safe until your residence sells.
Meanwhile, with items you want to sell at your yard sale, ensure they work properly and look great. You also may want to perform research to determine a fair price for these items based on their age and condition.
2. Pick a Good Date for Your Yard Sale
A Saturday or Sunday morning is the perfect time to kick off a yard sale. Select a date and time for your yard sale, and you can start counting the days until this event takes place.
Of course, as you consider yard sale dates, be sure to avoid scheduling your yard sale on a holiday. And remember, if you start your yard sale early in the day, you can give visitors plenty of time to check out your event.
3. Promote Your Yard Sale Properly
Create yard sale posters and set them up around your community. That way, you can promote your yard sale to a large group of community members in the days leading up to your event.
In addition, you may want to promote your yard sale online. Social networks make it easy to share information about your yard sale and may help you reach many people beyond your city or town.
As you get set to sell your home and host an upcoming yard sale, you may want to reach out to a real estate agent too. A real estate agent can help you get ready for the house selling journey and ensure you can achieve the optimal results.
A real estate agent is a home selling expert who is committed to client satisfaction. He or she will help you promote your residence to prospective buyers, analyze offers to purchase your home and much more. Plus, if you have any concerns as you navigate the home selling process, a real estate agent can respond to them.
Want to sell your home in the near future? Host a yard sale, and you can move one step closer to eliminating clutter from your home and adding your residence to the housing market.
A hot housing market features residences that buyers want to purchase as quickly as possible. As a home seller, you should do everything possible to stir up interest in your residence, even in a hot housing market. Because if dozens of buyers compete for your house, you may be able generate significant profits from your home sale.
Ultimately, there are several fast, effective ways to ensure you can maximize your home sale earnings in a hot housing market, and these include:
1. Conduct a Home Inspection
A home inspection allows you to identify your house's strengths and weaknesses. Then, you can take the necessary steps to transform various home weaknesses into strengths.
It won't take long to conduct a home inspection, either. Typically, a home inspector can visit your residence, perform the evaluation and provide an inspection report in a single day. This means you can quickly gain the home insights that you need to help you upgrade your residence prior to adding it to a hot housing market.
2. See How Your House Stacks Up Against the Competition
Take a look at the prices of available houses in your city or town that are similar to your own. This housing market data can help you establish a competitive initial asking price for your residence.
Furthermore, analyze the prices of recently sold residences in your area. With this housing market information, you can see just how quickly houses are selling and map out your home selling journey accordingly.
3. Consult with a Real Estate Agent
If you're unsure about how to proceed in a hot housing market, there is no need to stress. In fact, if you collaborate with a real estate agent, you can get the help you need to optimize your home sale earnings, regardless of the current housing market's conditions.
A real estate agent is a housing market expert who understands how to navigate the home selling journey. First, he or she will meet with you to discuss your home selling goals. A real estate agent then will develop a personalized home selling strategy. Finally, this housing market professional will list your home, set up home showings and open houses and help you get the best price for your residence.
Of course, a real estate agent is happy to assist you once you receive offers on your house too. If you get a home offer and don't know whether to accept, reject or counter it, a real estate agent can help you explore the pros and cons of all of the options at your disposal. Plus, a real estate agent can offer a recommendation about how to proceed with an offer, along with plenty of insights to help you make an informed decision.
When it comes to selling a house in a hot market, there's a lot that sellers can do to achieve the best-possible results. Use the aforementioned tips, and you can boost the likelihood of maximizing your home sale profits after you add your residence to a hot housing market.