Posted by Kimberly Bagni on 10/29/2018

If you recently listed your home, you may expect many offers to purchase to come your way in the near future. However, the house selling journey can be difficult to navigate, and there are many signs that indicate offers to purchase your home may be unlikely to arrive any time soon. These signs include:

1. Homebuyers are not scheduling showings.

Homebuyers often set up showings to view residences. And if buyers like what they see during a showing, these individuals may request a second showing or submit an offer to purchase a house.

Comparatively, a seller who receives no home showing requests for many days, weeks or months after listing a residence may be in trouble. This seller may need to perform home upgrades to help his or her residence stand out from the competition. Or, the seller may need to lower his or her house's initial asking price.

2. Homebuyers are not attending open houses.

An open house event is designed to provide buyers with an enjoyable experience. The event allows buyers to walk through a residence at their own pace. And if a buyer likes a house, he or she may request a one-on-one showing or submit an offer to purchase.

On the other hand, if no buyers attend an open house, a seller may need to modify his or her property selling strategy. This individual should consider the buyer's perspective closely and think about why buyers may choose to avoid his or her residence. Then, the seller can tweak his or her house selling strategy accordingly.

3. Comparable houses in your area continue to sell.

If a seller finds his or her residence lingers on the real estate market while similar houses sell quickly, there may be one or many problems with this individual's house. Although a seller may wonder why his or her house fails to stir up interest from buyers, a real estate agent can offer expert support. In fact, a seller can work with a real estate agent to determine the best course of action to promote his or her house to the right buyers.

Typically, a real estate agent meets with a house seller and helps this individual craft a property selling strategy. A real estate agent and home seller work hand-in-hand to figure out how to list a house, showcase it to buyers and maximize the residence's value. And when a real estate agent and home seller put a home selling plan into action, the results can be significant.

Let's not forget about the support that a real estate agent provides once a seller receives an offer to purchase, either. At this point, a home seller may be uncertain about what to do. But a real estate agent will help a home seller review all possible options and make an informed decision.

Simplify the house selling cycle Ė hire a real estate agent, and you can get the help you need to generate interest in your home as soon as it becomes available.





Posted by Kimberly Bagni on 4/9/2018

An offer to purchase represents a key milestone in the homebuying journey. Ultimately, it helps to plan ahead to ensure you're ready to submit a homebuying proposal. Because if you know what it takes to put together a competitive offer to purchase a house, you can boost the likelihood that a home seller accepts your proposal.

Now, let's take a look at three tips to help you get ready to submit an offer to purchase.

1. Study the Housing Market

The housing market fluctuates frequently. As such, you may enter a real estate market that favors buyers but slowly shifts into sellers' favor, or vice-versa. But if you examine the real estate sector closely, you can differentiate a buyer's market from a seller's one and submit an offer to purchase that accounts for the current housing market's conditions.

If homes are selling quickly at or above their initial asking prices, you may be working in a seller's market. Comparatively, if houses linger on the real estate market for many weeks or months before they sell, you may be operating in a buyer's market. As you start to craft an offer to purchase a house, you should analyze the real estate market. By doing so, you can submit an offer to purchase that matches a seller's expectations.

2. Get Your Finances in Order

Entering the housing market with a budget in hand usually is beneficial. If you get pre-approved for a mortgage, you can narrow your house search and stick to a budget as you pursue your dream residence.

Banks and credit unions can teach you everything you need to know about fixed- and adjustable-rate mortgages. Perhaps best of all, lenders employ mortgage specialists who can respond to your mortgage concerns and questions. If you collaborate with a lender today, you can get the financing you need to buy a house. Also, you can conduct a search for homes that fall within your price range and reduce the risk of submitting an offer to purchase that surpasses your budget.

3. Avoid a "Lowball" Offer

Submitting a "lowball" offer to purchase a home may seem like a good idea at first. Yet submitting a homebuying proposal that falls short of a seller's expectations is unlikely to help you acquire your dream house.

In most instances, a seller will instantly reject a lowball offer to purchase. And if you receive an immediate "No" from a seller, you risk missing out on the opportunity to purchase your ideal residence.

Allocate time and resources to craft a competitive homebuying proposal Ė you'll be glad you did. Otherwise, you run the risk of putting together a lowball offer that will miss the mark with a seller and force you to look elsewhere to purchase a house.

Lastly, if you need extra assistance as you perform a house search, you may want to hire a real estate agent. By employing a real estate agent, you should have no trouble crafting a competitive offer to purchase any home, regardless of the housing market's conditions.




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Posted by Kimberly Bagni on 8/28/2017

Sometimes, being in the hunt for a home feels like being in a race you canít win. You should craft an offer that they cant refuse in order to get ahead on the house hunt. The real estate market can be hot or cold. No matter what the market is like, having a solid offer can be very beneficial to you as a buyer. Hereís some tips for you to get the offer you make accepted:


Get Preapproved


When you get preapproved, youíre showing the seller that youíre a serious buyer. Being preapproved gives you a shorter closing time and helps you to clear any financing hurdles before you get to them.


Avoid Lowball Offers


Make sure that you check out the prices of other homes in the neighborhood. Your real estate agent can help you to do this research. Often, youíll need to offer the asking price or above if itís a sellerís market. If all the research leads you to offer somewhere in the neighborhood of the asking price for a home, youíll want to abide with that.


Too Many Contingencies Turn A Seller Off


The financing contingency is the agreement that is put forth to help a buyer get out of the deal if financing falls through. Youíll need to be sure that you actually have the cash on hand to help you if the appraisal falls short, however. While this isnít recommended, it can give you a leg up in the buying process if you know what youíre doing. 

Another thing that you might consider is waiving the inspection. This does however, remove the ability to be sure that a home is in livable condition. This is another way to give yourself an advantage in the home search process, but itís not recommended. A better way to keep the inspection and streamline the process is to shorten the inspection time by having the inspector ready to go immediately.  


Add A Clause To Increase Your Amount


You are able to add an escalation clause into a deal. This will automatically increase your deal by a predetermined amount if the seller gets more than one offer on the home. Thereís a cap on these deals, so it doesnít work like an auction. Itís a good option and it causes sellers to have to disclose the competing offers. Typically, this wouldnít be the case. The only way youíd be out of the deal is if other offers exceed your cap.


Be Smart With Negotiations


You can offer to pay closing costs and home warranties instead of the seller having to pay them. Costs associated with the closing can be extensive, so offering to pay these fees can be very appealing to the seller. 


Get Personal


Itís difficult for sellers to part with the home that they love. If you get a bit personal and write a letter or send a video message to the sellers, you may often appeal to them on another level. In the letter, you may want to address how well the sellers have taken care of the home and express your desire to continue your life in the home in the same fashion. Many times, this is really a great way to connect with your seller and give you a better chance of getting your offer accepted.




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Posted by Kimberly Bagni on 6/19/2017

When you find a home you love, you most likely will want to take the steps you can to buy it. When a home is already under contract, thereís actually a little-known strategy that can be used to help you have a chance at getting the property. 


When you make a backup offer, youíre doing all of the same things youíd do under normal circumstances. The only difference between a normal offer and a backup offer is that youíre not guaranteed to get the home. The first deal needs to fall through in order for you to have a shot.


Advantages To Backup Offers


The backup offer is a bit of a stretch, but it still does give you a little bit of a chance to get a home. When a backup offer is in place, the home wonít just go back on the market if something falls through. This is especially smart when it comes to lower inventory markets. When a home is re-listed, youíll need to compete against other buyers. If a bidding war is initiated, the homeís price will keep going up. The backup offer being in place helps the seller to feel secure in the sale of their home one way or another. If for any reason the first buyer falls through, youíll be able to swoop in and get the home yourself.


Timing Is Everything


Keep in mind that thereís a certain period of time before a deal needs to be closed on for a home. The original buyer will need to close the deal on the home in an average of 50 days. Knowing the time frame that youíll need to wait around for a decision is helpful for you in your own search for a home.


You can also have your agent check in with the listing agent for the property on a frequent basis. This lets the agent ad seller know that you have a keen interest in the property in case there are any difficulties coming from the other side of the deal. 


If The First Deal Doesnít Go Through


If the first deal on a home does fall through, youíre not the new owner of the home just yet. Thereís always a possibility that the first buyers found some very difficult problems with the home during the inspection. These could be big issues like an issue with the roof or the foundation of the home. Be sure to include a home inspection contingency with your contract so that you can have your own inspection conducted. This way, youíll know if there are any problems with the home and that you will be able to deal with them.


A backup offer can be a great tool to use in tight markets to help you get a home that you love. Itís always a good idea to proceed with caution in any home deal to make a sound financial decision.




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