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.

4 Quick Tips for Selling Your Farm - Our Guide


If you’re thinking about selling your farm to reduce your responsibilities, earn more money, or relocate, now is the time to do it. The housing market has been doing incredibly well recently despite widespread uncertainties caused by the pandemic, which gives you a golden opportunity to put your farm up for sale.


Additionally, rural real estate investors and low-interest rates make small farms even more valuable, especially as subdivision developments continue to rise. Now that most people are working from home, they’re now considering moving farther away from the city, making farms for sale like yours even more profitable. Here are four easy tips for selling your farm:

1) Work With a Real Estate Agent

Once you’ve decided to sell your farm, you’ll need to work with the best real estate agent to create your listing and make sure you include all your property highlights. It’ll take a few days or weeks to complete your listing since you’ll have to do a thorough search of your property to familiarize all the essential details and features the listing must disclose. These include known defects, easements, water and mineral rights, and other crucial information. A proper real estate agent can also carry out a comparative analysis of sales prices on properties like yours to help you come up with the right price.


Real estate agents will help you pinpoint the unique qualities of your farm and take care of the paperwork that comes with selling it. They can also look for property photographers to take attractive pictures of your farm and write an attention-grabbing description, which is sure to draw potential buyers to your doorstep. With these real estate professionals by your side, selling your farm will become less stressful!

2) Consider the Timing

You may have heard that the best time to sell your farm is during the summer, although this highly depends on where you are relocating when selling your farm. Additionally, the housing market can also grow dull in the summer depending on circumstances, so it’s crucial to think about the most strategic time to sell your property.


It’s vital to consider your farm animals as well. If you own a few horses and you have a contact who is willing to board them while you look for a new property, then you can shop around after selling your farm. However, if your menagerie consists of many different animals, you’ll need to craft a solid exit plan to ensure their care while accounting for the best time to sell the property.

3) Craft a Contingency Plan

Every farm comes with its own set of quirks that you’ll need to address in the sales contracts through a contingency plan. This clause is often written into real estate deals that provide parties with the right to exit their contract under concrete, specified circumstances that both the buyer and seller agree on, protecting both parties from future problems. A real estate agent can also assist in this area.

4) Stage Your Property

Lastly, you’ll need to stage your farm and make sure you showcase its highlights and qualities to interested buyers. This process is similar to staging residential properties, although this will be a bit more challenging since you’ll also have to factor in your farm animals and equipment. However, to make it easier, a real estate agent will offer you a to-do list that will beautify your farm, improve its value, and make it look more appealing for interested buyers. These may involve inexpensive fixes.

Conclusion

When it’s time to move on from your farm, you’ll need to work with a real estate agent to prepare it for the market. Real estate sales can move faster than expected, so it’s crucial to iron out everything to make sure it’s ready for showing. By following these tips, you’ll have a smooth experience in selling your property.


If you’re looking for farms for sale, let me know at Chris Low! I’m the best real estate agent in Manitoba that works with clients to buy and sell residential, commercial, and farm real estate. Contact me today to find out more about how I can help you sell your farm!

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