RE/MAX Executive Realty



Posted by RE/MAX Executive Realty on 1/3/2021

Deciding whether to submit an offer to purchase a house may prove to be difficult. Fortunately, we're here to help you weigh the pros and cons of submitting a homebuying proposal so you can make the best-possible decision.

Now, let's take a look at three tips to help you determine whether now is the right time to submit an offer to purchase a residence.

1. Evaluate Your Budget

If you believe you've found your dream home, you should take a look at your budget. That way, you can verify whether you'll be able to afford this residence both now and in the future.

Oftentimes, it helps to get pre-approved for a mortgage before you start a house search. If you meet with banks and credit unions, you can learn about all of the mortgage options at your disposal. Then, you can select a mortgage that allows you to pursue a house with a budget in hand.

2. Consider Your Homebuying Criteria

You want to discover your dream residence as quickly as possible, but it is paramount to find a house that you can enjoy for years to come. If you have a list of homebuying criteria, you may be able to quickly determine whether a residence is right for you.

As you craft homebuying criteria, think about what you want to find in your dream residence. For instance, if you've always wanted to own a house on a beach, you can narrow your home search accordingly. On the other hand, if you would like to own a home that has an above-ground swimming pool but can live without this feature if necessary, you should include an above-ground swimming pool as a low-priority item on your homebuying checklist.

3. Assess the Housing Market

The housing market often fluctuates, and a buyer's market today may shift into seller's favor tomorrow. If you analyze the housing market closely, you can differentiate a buyer's market from a seller's one. You then can decide whether to submit an offer to purchase or hold off on providing a homebuying proposal until housing market conditions improve.

To distinguish a buyer's market from a seller's market, it generally is a good idea to look at the prices of recently sold houses in your city or town. You also should find out how long these residences were available before they sold. By reviewing this housing market data, you can assess the demand for houses in your city or town.

Lastly, as you debate whether to submit an offer to purchase a residence, you may want to consult with a real estate agent. This housing market professional is happy to provide honest, unbiased homebuying recommendations. As a result, a real estate agent can help you perform an in-depth evaluation of a home and determine whether to offer to buy this house.

Make an informed decision about whether to submit an offer to purchase a residence Ė use the aforementioned tips, and you'll be better equipped than ever before to decide how to proceed with any house, at any time.




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Posted by RE/MAX Executive Realty on 8/30/2020

If you're on the fence about whether to reject or accept an offer to purchase, it is important to remember that a third option is available: submitting a counter-offer.

Ultimately, deciding to submit a counter-offer can be a tough choice for first-time and experienced house sellers alike. But we're here to teach you about the benefits of counter-offers and ensure you feel confident to submit a counter-proposal as needed.

Let's take a look at three tips to help you decide when to submit a counter-offer.

1. Assess Your Residence

Although the initial asking price for your house is not set in stone, you likely have expectations about how much you should receive for your home. But if a homebuyer submits an offer to purchase that falls below your expectations, you should assess your residence to help you make the best-possible decision.

Try to take an objective view of your home Ė you'll be glad you did. For instance, if you discover your home is one of many similar properties available in a buyer's market, you may want to accept an offer to purchase, even if it falls below your expectations. On the other hand, if you feel that your home is in great condition and you receive an offer to purchase that is short of your initial asking price, you may want to counter the proposal or reject it altogether.

2. Review the Housing Market

Housing market data can help any home seller make informed decisions throughout the property selling journey. There is plenty of housing market data at your disposal, and you should not hesitate to use it, especially when you analyze an offer to purchase.

Oftentimes, it helps to look at the prices of recently sold residences, the prices of available residences in your area that are similar to your own and other pertinent housing market data. With this information, you can gain deep insights into the housing market. Then, you can determine whether an offer to purchase falls in line with the current state of the real estate sector.

3. Work with a Real Estate Agent

There is no need to review an offer to purchase on your own. Fortunately, if you hire a real estate agent, you can get the help you need to perform an in-depth analysis of any offer to purchase.

A real estate agent is a house selling expert who will allocate the necessary time and resources to help you review an offer to purchase. He or she can provide a recommendation about whether to counter a homebuying proposal and explain the reasons for this recommendation as well. Plus, if you ever have concerns or questions about an offer to purchase, a real estate agent is happy to address them.

Should you counter an offer to purchase? The answer depends on the home seller, the real estate market and other factors. And if you use the aforementioned tips, you can perform a full evaluation of an offer to purchase and proceed accordingly.





Posted by RE/MAX Executive Realty on 8/16/2020

Buying is home is a lengthy and, at times, stressful process. So, it can be discouraging when your offer is rejected.

If youíve recently had a purchase offer rejected by the homeowner, donít worry--you have options.

In this post, weíre going to cover some of those options so you can start focusing on your next move and potentially even make a second offer that gets accepted.

1.  Reassess your offer, not the seller

You could spend days guessing the reasons the seller might not have accepted your offer if they didnít give you a straightforward answer.


However, your time is better spent addressing your own offer. Double check the following things:

  • Is your offer significantly lower than the asking price?

  • If so, is it lower than comparable sale prices for homes in the neighborhood?

  • Does your offer contain more than the usual contingencies?

Once youíve reassessed, you can determine if a second offer is appropriate for your situation, or if youíre ready to move onto other prospects with the knowledge youíve gained from this experience in hand.

2. Formulate your second offer

So, youíve decided to make another attempt at the house. Now is the time to discuss details with your spouse and real estate agent.

Out of respect for the sellerís time and their timeline for selling the home, you should treat your second offer as your last.

So, make sure youíre putting your best offer forward. This can mean removing those contingencies mentioned earlier or increasing the amount. However, be realistic about your budget and donít waive contingencies that are necessary (commonly appraisals, inspection, and financing contingencies).

3. Consider including a personal offer letter

In todayís competitive market, many sellers are fielding multiple offers on their home. To set yourself apart from the competitors and to help the seller get to know your goals and reasoning better, a personal letter is often a great tool.

Donít be afraid to give details in your offer letter. Explain what excites you about the house, why it is ideal for your family, and what your plans are for living there.

What shouldnít you include in your offer letter? Avoid statements that try to evoke pity or guilt from the seller. This seldom works and will put-off most buyers to your offer.

4. Moving on is good time management

If you arenít comfortable increasing your offer or if you receive a second rejection, itís typically a good idea to move onto other prospects. It may seem like wasted time--however, just like a job interview that didnít go as planned, itís an excellent learning experience.

Youíll walk away knowing more about the negotiation process, dealing with sellers and agents, and you might even find a home thatís better than the first one in the process!




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Posted by RE/MAX Executive Realty on 7/5/2020

If you intend to purchase a house, it helps to submit a competitive offer. In fact, if you submit a competitive offer, you may be better equipped than ever before to enjoy a fast, seamless homebuying experience.

Ultimately, there are many reasons to submit a competitive offer on a home, and these include:

1. You can increase the likelihood of an instant "Yes" from a home seller.

Let's face it Ė no home seller wants to deal with a "lowball" offer on a house. Fortunately, a competitive offer helps improve your chances of receiving an instant "Yes" from a seller, thereby increasing the likelihood of a stress-free homebuying experience.

A homebuyer who allocates the necessary time and resources to understand a house and its strengths and weaknesses should have no trouble defining a competitive offer. Then, this buyer can submit a proposal that accounts for a house's age and condition. And if a seller accepts the homebuying proposal, both the buyer and seller can work together to finalize a purchase agreement.

2. You can open the lines of communication with a home seller.

Although a competitive home offer may suit your interests, it may not match a seller's expectations. However, a buyer's decision to submit a competitive proposal may open the lines of communication with a seller.

If a buyer submits a lowball proposal on a house, he or she may receive an immediate rejection from a seller. Comparatively, a competitive home offer may force a seller to consider his or her options closely. And even though a seller may not be fully satisfied with the proposal, he or she could counter the offer and negotiate terms with a buyer.

3. You can avoid the risk of overspending to acquire a residence.

A homebuyer who analyzes the real estate market can find out what a home is worth based on a variety of housing sector conditions. Therefore, this buyer can submit a competitive offer, one that minimizes the risk that he or she will overspend to acquire a residence.

When it comes to putting together a competitive home offer, you may want to collaborate with a real estate agent as well. This housing market professional can work with you throughout your home search and ensure you can pounce at any opportunity to purchase your ideal house.

A real estate agent understands all aspects of the housing market. He or she will help you search for residences in your preferred cities and towns. Plus, once you discover your dream house, a real estate agent will make it simple to put together a competitive offer.

Furthermore, a real estate agent is happy to respond to your concerns and questions throughout the homebuying journey. This housing market professional will offer expert homebuying insights, enabling you to make the best-possible homebuying decision.

Limit the guesswork associated with submitting a competitive homebuying proposal Ė use the aforementioned tips, and you can make an aggressive offer on any house, at any time.




Categories: Uncategorized  


Posted by RE/MAX Executive Realty on 5/10/2020

If you get an offer to buy your house, there is no need to make a snap decision. Instead, it generally is a good idea to allocate the necessary time and resources to analyze an offer and determine the best course of action.

Ultimately, there are lots of reasons why you should analyze a home offer, and these include:

1. You can boost the likelihood of getting the best price for your house.

An offer may fall at, above or below your house's initial asking price. However, regardless of the offer that you receive, it pays to perform a full evaluation to ensure you can maximize the value of your residence.

For many home sellers, it is beneficial to conduct a home appraisal prior to listing a residence. That way, when a home offer arrives, a seller can compare the proposal to a property valuation and proceed accordingly.

2. You can weigh the pros and cons of all of your options.

Let's face it Ė deciding whether to accept, reject or counter a homebuying proposal can be tough. Luckily, analyzing an offer enables you to weight the pros and cons of each option, making it easier than ever before to make an informed choice.

Oftentimes, creating a list of pros and cons can be helpful. This list will enable you to assess the advantages and disadvantages of each potential home selling decision. Then, you can use your list to guide the decision-making process.

3. You can receive expert housing market insights before you finalize your decision.

Imagine what it would be like to take a data-driven approach to decide whether to approve a homebuying proposal. Now, you can, thanks to the wealth of housing market data that is readily available to sellers.

As a home seller, you should have no trouble examining the prices of comparable houses that recently sold in your city or town. You then can use this housing market data to determine whether a proposal is "fair" based on the current real estate market's conditions.

Of course, as you assess a home offer, it often helps to collaborate with a real estate agent. This housing market professional knows exactly what it takes to sell a house Ė regardless of the real estate market's conditions. As such, he or she will enable you to conduct an in-depth review of any homebuying proposal, at any time.

A real estate agent also is happy to help you after you determine whether to accept, reject or counter a proposal. If you accept an offer, a real estate agent will help you move forward with the home selling journey. Or, if you reject an offer, a real estate agent will show you how to promote your house to potential buyers to boost your chances of receiving better proposals in the future. And if you counter an offer, a real estate agent can negotiate with a buyer's agent on your behalf.

Evaluate a home offer closely Ė you'll be glad you did. If you perform a deep analysis of a homebuying proposal, you can assess a home offer from multiple angles and make the best-possible decision based on your individual needs.







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