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.

7 Things To Do Before Selling Your House

Moving out and selling your house is a big decision, not just for you but also for the person who will buy your home. That is why you need to do a few things before selling your house to make the transaction easier between you and the buyer. Here are seven key suggestions:

1) Make Repairs to the House

You must’ve lived with a few nagging issues around the house—now is the time to fix them. Look for things like missing or broken tiles, cracked windows, squeaky doors, or stained ceilings. Make a list of everything that needs fixing and start repairing those things. A realtor can be quite helpful in letting you decide which ones to tackle first.

2) Create Curb Appeal

Your house needs to make an excellent first impression so that the buyer thinks, "Wow! I can live here," as soon as they set eyes on your property. Ensure your property is tidy and inviting, the lawn is well-trimmed and maintained, and the sidewalks and pathways are clean for buyers and their real estate regents.

3) Declutter and Clean

Next, declutter your home to make your house inviting and livable for everyone. Recycle or shred old paper, donate the books and toys you no longer need, and remove anything that you don’t use on a day-to-day basis—this will make your house look tidy, and more importantly, bigger than it is.

4) Get the House Inspected

Next, you need to hire a home inspector. Yes, the buyer will also get the home inspected, but it gives you more credibility when you tell them that the house has been inspected by a professional. The inspector will also point out things that need fixing, leaving fewer chances of negotiation for the buyer.

5) Prepare the Paperwork

The better prepared you are with the paperwork, the easier the house sale transaction. The paperwork you need to prepare includes the deed, homeowner’s insurance information, mortgage information, tax statements, warranties, purchase agreement, title report, etc. Chris Low Realtor - a leading team of real estate agents - can help you with this.  

6) Add Fresh Flowers

Scents can make or break the feel of your house. You can also add fresh flowers to your home to make it look and feel inviting, and more importantly, it will make the house smell terrific. If flowers are too much, you can simply get scented candles or air freshener sprays. 

7) Check the Lights

Lastly, check all the lights. Ensure that your home is well lit and all the lights are working. If you have burnt-out bulbs or flickering lights anywhere, even in the garage, change them before you invite any buyers. You can also go further and upgrade your lights to LEDs if you haven’t already, as they are great value propositions to homes nowadays.

There’s a lot more that needs to be done when you want to sell your house, but we can take care of that with our real estate agent services. Contact Chris Low Realtor to know more about real estate solutions.

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