You’ve Found “The Home.” Now What?


The long, tiring search is over and you’ve kissed a lot of frogs. You've finally found your dream home and want to make an offer on the property. How do you know how much to offer and if you’re getting the most value for your money in this Brandon MB market?


The offer phase of purchasing a home isn’t always straightforward and you need to at least know the market on homes in that area so you can determine if you’ll be getting the fair market value for that home. Ask your real estate agent to go through neighborhood  comparable actives and solds with you.  This report should be helpful with the offer process.


Lowballing is a common term in the world of real estate. It means that you’re offering to buy the house for a number that’s far below the market value. You run the risk of insulting the seller and losing the home for good.


But, if you don’t know the fair market value of the home you could overpay by thousands of dollars. To zero in on the market value of the home you’ve chosen, you should know if you’re in a seller’s or buyer’s market.


A buyer’s market means that there are plenty of homes for sale, but a shortage of buyers. This gives you more power to bid lower than the asking price and to even ask the seller to pay for some or all of the closing costs. In a buyer’s market, you’ll find the seller more willing to negotiate.


If you’re in a seller’s market, there is a shortage of homes for sale and you’re likely to have several potential buyers making offers at the same time. A seller’s market is a little tougher to negotiate in because you may need to compete with other buyers.


It’s sometimes devastating to a potential home buyer when their good-faith offer is rejected – especially without a counter offer. This could happen when the seller receives many offers and your offer was much less than the others. Or, the seller may back off of your offer to see if he can eventually get a better one.


All may not be lost, even if your offer has been rejected by the seller. The seller may not have accepted any offer on the home and you may still have time to negotiate by moving rapidly with a higher offer. This may result in a bidding war that your real estate agent will need to help you with.


A buyer’s agent is extremely helpful if you’re a first-time home buyer. He or she will be familiar with the local market and be able to negotiate the best deal on your behalf. You’ll learn a lot during this process, which may be helpful to you when you decide to sell.


If you’re working in a seller’s market and there’s a real shortage of homes in the area, you may still be able to get your dream home. Find a home you really love in an area you’re interested in and write a letter to the homeowner.


It’s a true leap of faith to try this method, but it’s worked for thousands of buyers and it just might work for you. Even if you receive a “not interested” reply, at least you’ll know you tried.


Never rush to make an offer in any market until you’re sure the home is right for you. Unless you do the proper research on the home, you may be rushing in to a situation that you’ll later regret.


Whether you live in Brandon MB, Virden MB or you're searching for acreages in these surrounding areas, the search can be strenuous and time consuming.  You can call on me to be your trusted go to REALTOR®, with insight on all new listings and recent home sales, within our local real estate market.

3 Effective Tips for Selling Your Home Fast in March - Our Guide


If you decide to resell your home, you want to have a good resale value. Unfortunately, the real estate market can be unpredictable, which means you cannot just sell anytime. Doing so will put you at risk of losing the money you are supposed to get. The best way to deal with this is to wait out the market a bit and list later to get significantly more cash on the same property.


According to top real estate agents, the best time of year to sell houses is during March. They based it on local trends in the real estate market. Since the competition can be tough, here are some tips to help you attract homebuyers and sell your home fast that month:

- Boost your Curb Appeal

March is the perfect time when potential homebuyers spend their weekends looking around for the home of their dreams. To capture their attention right away and ensure they notice and consider your house, make your property appealing by boosting your curb appeal. For instance, have a well-maintained yard by planting flowers and mowing your grass regularly. You can also apply a fresh coat of brightly coloured paint on the door to give them a warm welcome.


Your lawn might seem an insignificant detail that no homebuyer would notice, but this small part of your house is important to them. Keep in mind that they want a fresh start, and this includes having a new property they can call their home. Don’t ruin that experience for them by neglecting the dead patches of grass and weed on your lawn. Prioritize making a positive impression by paying attention to what you can see in front of your home and improving their appearance and functionality.

- Use Seasonal Benefits to your Advantage

Selling a home in an area that experiences all four seasons means having potential homebuyers who are likely to consider the seasonal trends before buying. Since March in many regions of the country has pleasant weather, take advantage of this. You can also expect more active buyers are looking for homes for sale because they are more motivated to sell when the temperature begins warming up.

- Consider the Competition

As you do your research about property selling, you might have read or heard that May is the perfect time to sell your house. While it is an excellent time to put your home on the market, you will have many competitors pitting against the homebuyers’ attention. In other words, listing in May can help you sell faster, but competition is certainly higher. You definitely will have a hard time standing out in the market if your neighbourhood is saturated with properties for sale around the same time. Because of this, it’s best to list your house earlier than May to get a better price.

Conclusion

The month can affect the price and the amount of time it will take to sell your home. While navigating through the world of real estate can be tricky, you now have a better idea of how you can make sure potential buyers notice your house. All you have to do is follow the tips above. You can also partner with an experienced real estate agent like me for further assistance and support.


If you need the expertise of the best real estate agent, then you’ve come to the right place. I run Chris Low Realtor, and I can help you get the best deal for your property through my in-depth knowledge and years of experience. I also offer a home value estimator so you can find out the value of your house on the current real estate market. Contact me to learn more about how I can help you!

Comments:
No comments

Post Your Comment:

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.