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The National Association of Realtors (NAR) proposed settlement of litigation, recently given preliminary approval by the Court, has raised questions about whether buyers with limited resources, especially first-time home buyers , can afford closing costs. In a seller’s market, that may well occur.
We all know that sellers hear what they want to hear and believe what they want to believe when it comes to how market conditions will impact the sale of their home. They believe their home is special and people will be knocking on the door with full price offers within days of hitting the market. The agent , of course!
In case you didn’t know, we’re living in a seller’s market. But even though home prices are at record highs , buyers are still in the market. Not only are they shopping, but they’re putting down offers well over the listing price. A buyer in Austin, Texas paid $1 million over a home’s listing price. Listing prices?
As a buyer agent , it is your job to be the voice of reason, the buffer, and sometimes the peacemaker. Here are some tips on how to make the real estate transaction process as smooth as possible for you and your buyer clients. Making an offer. Constructing a real estate offer is an art. Competing with other buyers.
What is a seller concession? This refers to anything that the seller gives or grants to the buyer. Sellers are not the only ones who can grant concessions, but right now it’s in the news more due to changes this year in how we sell real estate and the forms and clauses we use to do so.
Like making counter-offers and going through the home inspection process, the home appraisal can be a sticking point between buyer and seller. As a buyer, you're entitled to a copy of your appraisal report promptly and no later than three days before your closing date. Finding that rare all-cash offer isn't easy.
Motivated sellers attract motivated buyers. In addition, if you do receive an offer in the first week that is less than you hoped, think twice before you deny it. There is always room to counter-offer and negotiate. Seller Resources. Add warming candles, pleasing aromas, or fall baked goods. Read More ».
Many potential homebuyers and investors overlook bank-owned properties, but for buyers who take the time to understand the REO process, these homes can be a significant opportunity. Step 3: Find a Real Estate Buyer’s Agent Who Knows REO Homes. 10 Steps to Buying REO Properties. Step 4: Refine Your List of Lender-Owned Properties.
In one instance, you have sellers enjoying multiple offers on a property and achieving a nice percentage increase above their asking price. When it’s a buyer’s market, there are the reasonable buyers who might come in a little low on an offer. Then there are the extreme opportunistic buyers.
Once a suitable piece of vacant land becomes available, a prospective buyer must then determine what price is worth the acquisition. Contacting the Seller The first question a buyer must answer is whether the lot is listed for sale or not. Subsequently, the process of conveyance must proceed.
Let’s talk about lowball offers. What constitutes a “lowball” offer, when is it appropriate or not appropriate and how can you encourage your buyer clients to stop insisting on offering a price that’s unlikely to result in an offer? So do buyer’s credit scores , ratios and down payment funds.
However, with proper preparation, the right tools , and an understanding of the market, FSBO sellers can potentially overcome these hurdles. Prepare Your Home for Sale Preparing your home for sale involves more than just cleaning; it’s about creating an inviting space that allows potential buyers to envision themselves living there.
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