How Do You Manage Multiple Offer Situations?
Looking to buy in the Greater Houston Area? Get a full MLS access Looking to Sell in the Greater Houston Area? Get a free home market analysis How do you juggle multiple offer situations as a seller? Before accepting an offer, there are a few factors to pay attention to.Is the highest offer always the best? The first factor is, of course, the price, but it’s not the only one. What are the other concessions the buyer is asking for? They may include closing costs, home warranties, preferred dates, and more. Next, ask about earnest money. How much are they offering? This shows how serious (or not) they are about moving forward with your home. What about their option period and how much are they willing to put down for it? Additionally, take into consideration the buyer’s agent, on the other side of the transaction. They’re going to help your agent get to the closing table!What should I consider when accepting an offer? When considering different offers, I always recommend researching ahead of time. That way, when the offer is right in front of you, you’ll already have all the information. You can then make an educated decision.As for cash offers, it’s ultimately a personal decision. It has to do with timelines. A cash offer will close quickly, but they might ask for a better deal since they’re not financing. Conversely, a finance offer will require at least 30 days, but it’s likely they’ll match your listing price, or even offer more. “A professional will help you sort through the details of the offers.” How can a qualified professional help? A tailored professional will help you sort through the details of the offers. They have tools and resources you otherwise wouldn’t have. It’s always great to utilize an agent to explain this complex term into simpler words. If you’re thinking about buying or selling a home in the surrounding area, I’d be happy to chat with you! Call or email me at your earliest convenience. I’d be happy to answer your questions! Contact Us Written by Ruby Miranda on September 23, 2018. Posted in Sell Your Home, Seller TipsTags: Ruby Miranda, Sell Your Home, Seller Tips Trackback from your site. Leave a Reply
What Actually Happens During an Appraisal?
What Actually Happens During an Appraisal? Looking to buy in the Greater Houston Area? Get a full MLS accessLooking to Sell in the Greater Houston Area? Get a free home market analysis We are here to answer the commonly asked question: “What is an appraisal and why is it important?” An appraisal is when a mortgage lender sends someone out to a property to determine its value. “An appraiser will look for any major defects.” When it’s time to order an appraisal on a home you purchase, a third party will come out to the home so they can determine what homes are selling for in the area and how your property matches up. They will physically look at the exterior and interior of the home and note any major defects. An appraisal will mostly look for major defects though, they aren’t going to get into the details as much as a home inspector would. As a buyer, when the appraiser goes out there, there are going to determine if the home you made an offer on is worth more, less, or the same as you paid for it. If the appraisal is the same as what you paid, or it comes in higher, you’re clear and free. If the appraisal comes in under what you’re paying, you will have to re-negotiate with the seller. You can stay firm at your price and force them to cover the difference, you can come down in price, or you can negotiate somewhere in the middle. There are a lot of options. If you have any questions for me, give me a call or send me an email. I would love to hear from you. Contact Us Written by Ruby Miranda on September 23, 2018. Posted in Buyer Tips, Home Appraisals, Home Loan Process, Seller TipsTags: Buy Your Home, Home Appraisals, Ruby Miranda, Sell Your Home Trackback from your site. Leave a Reply
We’ll Help You Get the Best Loan Possible
We’ll Help You Get the Best Loan Possible Looking to buy in the Greater Houston Area? Get a full MLS access Looking to Sell in the Greater Houston Area? Get a free home market analysis If you’re out there looking to buy a home and want to get approved for a mortgage, reach out to your local Realtor first. As a local expert, Realtors like myself have access to lenders who can help you with a home purchase much better than a big bank can. It’s not necessarily true that larger institutions can serve your needs better. The big banks are like general practitioners of financing. They will be able to tell you what you need, but might not know all the options you have. Our lenders are more like specialists. They are masters of the trade and when an issues come up, they are better equipped to handle them. “With the larger banks, you’re just another number.” Larger institutions are quick to issue pre-qualifications. They get your name, credit score, and basic info. They don’t get any official documentation. That’s ultimately not good for you. A mortgage lender will take this same first step as a big bank, but they will take that extra step to collect documents ahead of time so it’s much less likely that you’ll default or not be able to afford your mortgage. An additional benefit to working with one of our lenders is our relationship with them. With the larger banks, we’re just another number. We don’t necessarily get the same person on the phone each time so we can ask specific questions. With my preferred lending partners, I can call and ask them about your specific situation, and give them specific properties to run the numbers so you know what you are bringing to closing. You can go in with your eyes wide open and know what you’re getting into financially. If you have any questions, give us a call or send us an email. We would love to hear from you. Written by Ruby Miranda on September 23, 2018. Posted in Buy A Home, Buyer Tips, Financing A Home, Home Loan ProcessTags: Buy Your Home, Buyer Tips, Financing A Home, First Time Buyer Trackback from your site. Leave a Reply
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