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 Quick Fixes to Make Your Property Sell-Worthy on the Market

If you have commercial buildings or homes for sale, you can easily make great profits if you know how to make them sell-worthy. But if you have no idea how to do it, you may just end up wasting money on taxes, maintenance costs, and more. That’s why you have to be aware of the basics to turn your property into a market-ready option. But how exactly can you do so conveniently?


This article will discuss three easy solutions to ready your residential and commercial spaces for prospective buyers. Take this as an opportunity to ensure you don’t have a hard time selling, allowing you to get more out of your real estate ventures to meet financial obligations. This way, you and your family can live a carefree life, despite economic challenges.

- Clean Your Space and Get Things Repaired

If you are expecting to get buyers for a poorly maintained, dirty space, you may not get the profits and returns you need. You may even be shocked that similar properties can sell for significantly higher prices just because a few rooms were decluttered and fixed. That’s why it should be your prerogative to pay for cleaning and repair services, especially since you have to constantly show your buildings to different buyers, whether through onsite or online visits.


As such, it’s best to have a detail-oriented look at your budget and see which tasks you can do yourself. For instance, you may have a weekend off from work, allowing you to vacuum the kitchen and replace any broken light bulbs. Working on your properties’ functionality can entice more buyers, making them hot commodities in the market. This way, you can sell faster and make great profits!

- Repaint with Design Trends in Mind

Many aspiring homeowners and business professionals want to own real estate that’s updated on the latest designs. It’s a popular indicator that you work hard to preserve your real estate assets’ value. You can also entice prospective buyers to idealize what their lives may look like in your space with proper staging furniture, like office cubicles and coffee tables.


With the proper interior design research, you have the power to prepare your house or commercial property effectively with a well-thought-out plan. You can also browse through other similar listings online to have a better idea of what you need to do. Doing this helps you easily compete against other property sellers!

- Seek Advice from a Real Estate Agent

It’s great if you look forward to doing what you can to sell your properties, but you may lack the professional connections, expertise, and resources to do so. For example, you may have trouble with the paperwork and selling procedure of the home. That’s why it’s recommended that you work with a real estate agent to sell your assets easily.


With just a few consultations, you can streamline your selling process with the right real estate agent assisting you. They can even recommend solutions to ensure you make the highest possible profit for all your listings. You just need to schedule your next call and listen to what the expert has to say.

Conclusion

Having real estate assets is a worthwhile investment, but you can end up wasting the opportunity to make them profitable. Fortunately, you now have a better understanding of what it takes to get them in the current market. You just need to work with the right professionals to amplify your efforts. Make your properties sellable and become more financially secure!


Do you have a residential or commercial property for sale in Brandon? Consult with me, Chris Low, to get it sold quicker and for the best market price. You can also use the home value estimator to guide you through the real estate industry. Consult with me today and find out how else you can benefit from my services!

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.