Lynne Eliopoulos
ERA Key Realty Services | 508-832-1032 | [email protected]


Posted by Lynne Eliopoulos on 3/15/2020

If you get an offer to buy your house, there is no need to make a snap decision. Instead, it generally is a good idea to allocate the necessary time and resources to analyze an offer and determine the best course of action.

Ultimately, there are lots of reasons why you should analyze a home offer, and these include:

1. You can boost the likelihood of getting the best price for your house.

An offer may fall at, above or below your house's initial asking price. However, regardless of the offer that you receive, it pays to perform a full evaluation to ensure you can maximize the value of your residence.

For many home sellers, it is beneficial to conduct a home appraisal prior to listing a residence. That way, when a home offer arrives, a seller can compare the proposal to a property valuation and proceed accordingly.

2. You can weigh the pros and cons of all of your options.

Let's face it Ė deciding whether to accept, reject or counter a homebuying proposal can be tough. Luckily, analyzing an offer enables you to weight the pros and cons of each option, making it easier than ever before to make an informed choice.

Oftentimes, creating a list of pros and cons can be helpful. This list will enable you to assess the advantages and disadvantages of each potential home selling decision. Then, you can use your list to guide the decision-making process.

3. You can receive expert housing market insights before you finalize your decision.

Imagine what it would be like to take a data-driven approach to decide whether to approve a homebuying proposal. Now, you can, thanks to the wealth of housing market data that is readily available to sellers.

As a home seller, you should have no trouble examining the prices of comparable houses that recently sold in your city or town. You then can use this housing market data to determine whether a proposal is "fair" based on the current real estate market's conditions.

Of course, as you assess a home offer, it often helps to collaborate with a real estate agent. This housing market professional knows exactly what it takes to sell a house Ė regardless of the real estate market's conditions. As such, he or she will enable you to conduct an in-depth review of any homebuying proposal, at any time.

A real estate agent also is happy to help you after you determine whether to accept, reject or counter a proposal. If you accept an offer, a real estate agent will help you move forward with the home selling journey. Or, if you reject an offer, a real estate agent will show you how to promote your house to potential buyers to boost your chances of receiving better proposals in the future. And if you counter an offer, a real estate agent can negotiate with a buyer's agent on your behalf.

Evaluate a home offer closely Ė you'll be glad you did. If you perform a deep analysis of a homebuying proposal, you can assess a home offer from multiple angles and make the best-possible decision based on your individual needs.





Posted by Lynne Eliopoulos on 9/8/2019

Putting an offer on a home is an exciting event. You donít want to get so excited that you overlook the important factors that go into buying a home. Follow the tips below before you put an offer on a property.  


Research


In order to come up with a price to offer on a home, you need to do some research. You should have a general understanding of the local market. Although your realtor will have a good grasp on this, itís always a good idea to be an informed buyer. You can work with your realtor to find the right price. You donít want to blurt out a number that is completely out of line for the neighborhood or market conditions. 


A good place to start is by taking a look at what the homes in the the neighborhood are selling for. You can also look at what homes in the area have recently sold for. The advantage to hiring a realtor is that they have easy access to all of this research and information. Be sure that the properties that you look at are comparable to the one that you hope to put an offer on. You can even do this ahead of time if you have an idea of what kind of property youíre looking to buy. 


Another useful tool in the research part of making a offer is the history of the property. When did the seller purchase the property? At what price? If the seller has moved in more recently, you may have some wiggle room for negotiations.


Get Pre-approved


Getting pre-approved gives you some buying power. First, youíll know how much house you can afford. Next, youíll know that a lender is dedicated to lending you that amount to buy a home. Your offer will be taken more seriously if you have been pre-approved because the seller will know that you can get the funds to purchase the home. 


Get The Help Of A Realtor


When you hire a realtor, youíre getting the agent along with the team of people that they work with. Realtors can recommend you to everyone from home inspectors real estate attorneys. An attorney is an especially helpful advocate in the process of buying a home because they can check to be sure that your offer meets the legal requirements within your state and protect your interests as a buyer. 


The attorney will also look at the purchase agreement for the home. This will include all of the details of the property transaction:


  • The date of the offer
  • The address and property description
  • Amount offered for the home
  • Loan details including the down payment amount
  • The closing date
  • Any contingencies

These will all be very important to you as a buyer and a lawyer make sure that everything is legally sound will be a great protection for you.


Now, youíll be ready to seal the deal!       


 





Posted by Lynne Eliopoulos on 11/25/2018

Looking to put together an offer on a house? Ultimately, you'll want to submit a competitive first offer. By doing so, you can speed up the process of acquiring your dream residence.

When it comes to submitting a competitive home offer, however, it is important to understand what differentiates a "fair" proposal from a subpar one.

To better understand how to submit a competitive proposal, let's take a look at three best practices that every homebuyer needs to consider before making an offer on a house.

1. Evaluate the Housing Market

If you plan to buy a house, you'll want to examine the real estate market closely. That way, you can identify housing market patterns and trends and plan accordingly.

For example, if you find there is an abundance of high-quality houses available, you may be entering a buyer's market. In this market, there likely is a shortage of homebuyers, which means a competitive offer at or near a home seller's asking price is sure to grab this individual's attention.

On the other hand, if you notice that homes are selling quickly in a city or town, you may need to prepare for a seller's market. If you pursue houses in a seller's market, you may need to act quickly due to the sheer volume of buyers competing for the same residences.

Clearly, a comprehensive housing market analysis can make a world of difference for homebuyers. With in-depth housing market insights at your disposal, you'll be better equipped than other buyers to submit a competitive first offer on any residence, regardless of the current real estate market's conditions.

2. Get Your Finances in Order

What good is a competitive home offer if you cannot afford to buy a residence? If you secure a home loan, you can narrow your home search to properties that you can afford. Then, you'll be able to submit a competitive offer that ensures you won't have to break your budget to purchase your dream residence.

Also, if you're unsure about how your financial situation will impact your ability to buy a house, you should consult with banks and credit unions in your area. These financial institutions can help you get pre-approved for a home loan, establish a homebuying budget and much more.

3. Collaborate with a Real Estate Agent

When it comes to submitting a competitive home offer, it pays to receive expert homebuying support. Fortunately, you can hire a real estate agent who is happy to help you put together a competitive home offer.

A real estate agent can provide housing market data that you may struggle to obtain elsewhere. Plus, this housing market professional can offer unbiased home offer recommendations to ensure you can get an instant "Yes" from a home seller.

Collaborating with a real estate agent is a great option for homebuyers in all cities and towns. Reach out to local real estate agents today, and you can get the help you need to submit a competitive offer on any residence.