03
Sep
By support
Home Buyer Tips

How to Submit an Offer Below the Asking Price Without Spooking the Seller

Going Low: How to Submit an Offer Below the Asking Price Without Spooking the SellerYou’ve found it: A large new home for your family. It’s in the area of the city that you love, with the perfect architectural style and lots of room for entertaining guests. It would have been perfect for you, but there’s only one problem – you’re not quite ready to pay the price the seller is asking for. You’ll have to put in an offer below the seller’s asking price – a risky move.

Although you will be rolling the dice with an offer below asking price, there are ways that you can increase the likelihood that your offer will be successful. Before you submit your offer, use these three strategies to make it more appealing.

Work Out Other Terms In The Seller’s Favor

If you’re going to ask for a lower selling price, it helps to show that you’re willing to compromise on other terms – that way, you come across as a reasonable human being and not a bargain hunter. By offering to give the seller the better deal on other terms, you’re showing that you want to close a sale – and the seller will see you making an effort to come to an agreement and respond in kind.

There are several ways to do this. When you submit your offer, see if you can negotiate an arrangement that has you paying the closing costs or a closing date that works better for the seller. Or, offer to make the down payment in cash or give the seller a larger deposit.

Arm Yourself With Facts To Make Your Case

If the home you want to buy is priced well above fair market value, you can easily use that to your advantage and turn it into a benefit for the seller. First, you’ll want to look up property values for similar homes in the area. You should also investigate how long it takes homes in that area to sell and the difference between the average asking and average selling price in the area.

If you can show the seller that their asking price is above their neighborhood’s average sale price or that their home has been on the market longer than the average home (or both), then you can make a strong case for a lower offer.

Submitting an offer below asking price can work, but it’s not something that should simply be done on a whim. It takes careful planning and a great strategy to actually win a bid if you’re coming in below asking price. 

28
Aug
By support
Around The Home

How to Design a Modern, Luxurious Home Inside of an Older Piece of Real Estate

How to Design a Modern, Luxurious Home Inside of an Older Piece of Real Estate Newer properties may be infused with built-in designer touches that give them an instant sense of luxury, but older homes may lack many of these built-in features. Whether buying or renovating an older property, many people are interested in learning how to instill modern luxury in older property. The good news is that this is easier than it sounds, and it can be accomplished by following a few simple tips.

Make Thoughtful Upgrades

It may not be cost-effective or reasonable to upgrade the entire space with an extensive renovation, but making a few thoughtful upgrades can yield fabulous results. The light fixtures, faucets and hardware in the space should receive attention first, and homeowners should choose a modern finish that goes well with the rest of the home. If funds permit, consider upgrading the counter tops, sinks and bathtubs to further add luxury and modern style to the style.

Choose The Right Fabrics

When decorating the home, it is important to choose fabrics that speak to the luxury that is desired in the space. While some affordable materials have a luxurious look, it may be necessary to invest in premium materials like leather or upgraded upholstery in some areas to achieve the desired results. Think about the use of color, and layer fabrics for a truly upscale, finished look in the space.

Take Advantage Of Antique Charm

Most older homes have a special antique charm, and homeowners may have better results when working with this charm rather than trying to remove it from the space. Antiques can be incorporated with modern pieces to create a historic, classic or even rustic look to a home. Consider which aspects of the existing décor to highlight, such as gorgeous wood floors or an antique banister, and celebrate these areas while also including modern fabrics and other decorative touches to create the luxurious, modern look that is desired.

Decorating an older home can be challenging for many reasons, but it is possible to instill a sense of modern luxury into the space without a complete renovation. Some smaller remodeling efforts may be needed for the best results, and they can be incorporated with these tips to provide a lovely look that homeowners can truly fall in love with. Those who are thinking about fully renovating their older home may want to speak with their trusted mortgage professional for more information about refinancing their mortgage.

21
Aug
By support
Real Estate Tips

3 Handy Tips That Will Prevent Serious Stress when Buying and Selling a Home at the Same Time

3 Handy Tips That Will Prevent Serious Stress when Buying and Selling a Home at the Same TimeIf you’re in the process of simultaneously buying and selling a home, you may be in for the most stressful experience of your life. One UK-based real estate survey of over two thousand people found that buying and selling a house is more stressful than divorce, bankruptcy, a death in the family, becoming a parent for the first time, and even planning a wedding!

It’s not easy, but staying calm will help you to plan for your upcoming home purchase and sale and make the process easier. So how can you avoid the stress? Here are three strategies that will keep you calm, no matter what may happen.

Have A Thorough Plan In Place…

Much of the stress that you’ll experience will probably be the result of poor planning. You may feel stressed if you don’t have enough time to move or if you have to pay mortgages on two homes because your old home isn’t selling fast enough.

Before you get too far into the buying and selling process, talk with your trusted mortgage professional and ensure you have a solid financial plan in place for how you’ll manage buying and selling at the same time. Leave a time and expense buffer for unexpected complications – even if nothing goes wrong, it’s still nice to know you have some room to work with.

…But Be Ready To Improvise If Things Go Sideways

There are a number of ways that buying and selling at the same time might result in complications. Poor timing might mean you need to move out before you have a home to move into, or it might mean you don’t have the money for your new home if your old home hasn’t sold. Be prepared to rent a hotel room, take out a short-term loan, or move your belongings into storage if the sale doesn’t go according to plan.

Talk Out Your Problems With Loved Ones

In times of stress, it’s helpful to turn to friends and family for a helping hand. Studies have shown that having a strong social support network can mitigate the effects of stress, and even the Mayo Clinic suggests reaching out to loved ones when you feel overwhelmed. Don’t be afraid to ask your friends for emotional support, and whenever you have an opportunity to socialize, take it – you’ll find it easier to handle stress after a fun night out with friends.

Buying and selling a home at the same time is bound to be stressful, but working with an experienced mortgage professional and having a good financial plan in place can minimize the agony. Call your trusted mortgage professional to learn how you can successfully manage your finances while buying and selling a home at the same time.