Carol George's Blog
After you receive an offer to buy your house, you likely will have only a short period of time to determine whether to accept this proposal. As such, pressure can add up quickly, which often can make it tough to make the best-possible decision.
Fortunately, we're here to help you analyze your options and determine how to proceed with a homebuying proposal.
Let's take a look at three steps that every home seller should take after receiving a homebuying offer.
1. Weigh the Pros and Cons
Make a pros and cons list to examine a homebuying proposal – you'll be glad you did. With this list, you can assess the advantages and disadvantages of accepting a homebuying offer and proceed accordingly.
If you accept an offer, you can move forward in the home selling process. On the other hand, if you don't feel that an offer matches your expectations, there may be no reason to accept this proposal.
2. Evaluate Your Home Selling Goals
Consider your home selling goals as you evaluate an offer to buy your house. By doing so, you can determine whether an offer falls in line with your goals.
For example, if your goal is to sell your house as quickly as possible, the amount of the offer may not matter. In this scenario, you may want to accept a homebuying proposal to accelerate the home selling process.
Comparatively, if your goal is to maximize your profits, you will need to determine if a current offer is the best proposal that you could receive. If the answer is "Yes," then you may want to proceed with a home sale. Or, if the answer is "No," you may want to reject or counter a buyer's proposal.
3. Consult with a Real Estate Agent
Let's face it – evaluating a homebuying proposal can be difficult, particularly for a first-time home seller. If you consult with a real estate agent, however, you can get the help you need to make an informed decision about an offer.
A real estate agent can offer lots of housing market data to help you understand the current value of your house. Plus, this housing market professional can provide recommendations about whether to accept, reject or counter a homebuying proposal.
Perhaps best of all, a real estate agent will serve as a guide throughout the home selling journey. He or she can keep you up to date about any offers on your house, perform deep analysis of all homebuying proposals and ensure you can determine the best course of action on any offer, at any time.
Let's not forget about the housing market expertise that a real estate agent possesses, either. A real estate agent understands there is no such thing as a "bad" question. Thus, a real estate agent will respond to any home selling queries that you may have.
Take the guesswork out of assessing a homebuying proposal – use the aforementioned steps, and you can determine whether to accept an offer on your house.
Want to buy a house? If you plan ahead for the homebuying journey, you may be better equipped than ever before to reap the benefits of a seamless homebuying experience.
Now, let's take a look at three tips to help you prepare for the homebuying journey.
1. Figure Out Where You Want to Live
Do you prefer the hustle and bustle of the big city? Or, would you like to reside in a small town? Think about where you want to live, and you may be able to speed up the homebuying journey.
A homebuyer who narrows his or her search to houses in a set number of cities and towns may be able to quickly discover the ideal residence. Thus, if you know where you want to go, you can act fast to pursue your dream house. And once you find your dream home, it may be only a few weeks before you can finalize a home sale.
2. Obtain a Mortgage
A mortgage generally is a must-have for a homebuyer, regardless of where he or she decides to live. If you submit a mortgage application before you embark on the homebuying journey, you can enter the real estate market with a budget in hand.
Oftentimes, it won't take long to get pre-approved for a mortgage. You can meet with a variety of banks and credit unions, and these financial institutions can teach you about a wide array of mortgage options. Next, you can select a mortgage that satisfies your personal requirements.
When you meet with banks and credit unions, don't hesitate to ask plenty of questions, either. If you receive expert mortgage insights, you can make an informed mortgage decision that likely will serve you well for years to come.
3. Consult with a Real Estate Agent
Let's face it – pursuing a home should be a quick, easy process, but problems may arise that prevent you from buying your ideal residence. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you make your homeownership dreams come true.
A real estate agent is a housing market expert who can teach you how to discover a terrific house at a budget-friendly price. This housing market professional can explain the differences between a buyer's and seller's market and help you map out a successful homebuying journey. That way, you may be able to improve your chances of acquiring a superb residence if you hire a reliable real estate agent.
In addition, a real estate agent will serve as your guide along the homebuying journey. He or she will keep you up to date about new residences that become available, set up home showings and help you submit homebuying proposals. And if you ever have homebuying concerns or questions, a real estate agent is available to respond to them.
Achieve the best-possible results during the homebuying journey – use the aforementioned tips, and you can plan ahead to acquire your ideal residence.
Radon has no smell, taste, or color. It is a transparent, radioactive gas. Radon is released when the uranium that is contained in the soil and rocks decays over time. The reason that radon is an issue in a home is because it is released through cracks or openings that exist in the foundation. If too much radon is present in the home, the radioactive particles can attach themselves to dust particles, causing people in the home to breathe the harmful substance in.
What Is A Radon Test?
The radon test is conducted over the course of two days. A testing machine or canisters are placed on the lowest habitable level of a home being tested. This would be either on the first floor or in the finished basement level of the home. The cost of a radon test isn’t very much, ranging anywhere from $65 to $125. The radon test is typically part of the home inspection, but sometimes other circumstances warrant a test or re-test. The canisters take a bit more time to produce results than the testing machines do, so confer with your inspector before the test is done.
One thing you should know is that radon is always present. The level of radon fluctuates constantly. The test is conducted over a two day period to get the average level of radon in the home. The Environmental Protection Agency considers levels of radon at or above 4 pCi/L to be unsafe. If this is found to be true, there is a solution, however, as systems that lessen the amount of radon in the home can be installed. These can come with a hefty price tag, costing anywhere from $1,000 and up.
Radon levels will vary on a daily basis. They can also vary by season, with weather conditions and with the amount of available ventilation. Structural changes that have been made to the home can also have an effect on the levels of radon in the home. If you are getting ready to sell your home and already have a radon mitigation system installed, you may want to test the levels before you even put your home on the market to know what you’re working with. The system may not be working properly, or the levels may have faced a sharp increase, making it hard for the removal system to keep up.
With the proper installation of a radon removal system, the air in your home will be safe to breathe. If you put an offer in on a home and the home inspection finds that there are unsafe levels of radon present, at least you’ll know what you’re dealing with. If you decide that the home is not the place for you and your family, even with a removal system, you’ll walk away from the deal informed. If you’re a seller, beware that the level of radon in your home could affect the sale. Although radon sounds like a scary thing, it’s manageable. Radon tests and removal systems help to keep the levels safe.
Securing a mortgage can take years of planning and saving. Depending on credit score and financial history, it can be difficult for some people to secure a mortgage with a reasonable interest rate and down payment.
As a result, the U.S. government--at both the federal and state level--has created several programs to make the goal of homeownership more achievable for more Americans.
These programs are designed to help a number of people, including first-time homebuyers, low-income families, people living in rural areas, Native Americans, and veterans and servicemembers of the United States military.
In today’s article, we’re going to be talking about “VA loans,” or loans guaranteed by the United States Department f Veterans Affairs.
What is a VA Loan?
When a bank chooses to approve someone for a mortgage, they have weighed the risks of that person’s ability to pay back the loan. The less certain a bank is that they will see a return on their investment with a borrower, the higher the down payment and interest rate they will require.
One incentive that the U.S. Department of Veteran Affairs offers its service members and veterans is the ability to receive a loan that is, in part, guaranteed by U.S. Government. That means that lenders can safely approve you for lower interest rates and down payments knowing that the money they are lending you is insured.
Who is eligible for a loan?
Loans guaranteed by Veterans Affairs aren’t strictly for veterans. Active duty service members, including National Guard and Reserve Members may also be eligible. In addition to service members, people who are or were spouses of veterans or service members might also be eligible for a VA loan.
Specific eligibility requirements can be somewhat complicated, so it’s a good idea to visit the eligibility page or contact your local Veterans Affairs office.
What are the perks of a VA Loan?
If you’ve spent a significant portion of your time serving in the military, there’s a good chance that saving for a home has been placed on the back burner. Shopping around for a loan with an affordable down payment can be daunting or impossible for many.
Fortunately, with a VA loan eligible recipients are able to receive a loan with a low down payment or even no down payment.
In a time when down payments can average 20% of the mortgage, that can mean a lot of money you won’t have to spend up from. For example, a home that costs $275,000 would have a 20% down payment of $55,000.
What are the fees?
This great deal does come with one catch. As with many loan assistance programs, there is a fee charged for the services. On top of the funding fee charged by the VA, there are other costs associated with buying a home.
These may include appraisals, inspections, credit reports, and more. Additionally, lenders may charge a 1% flat fee for those using a VA loan.
As a homebuyer, you likely will want to do everything possible to secure your dream house at a budget-friendly price. Yet for those who are dealing with an aggressive property seller, achieving the optimal results may prove to be challenging.
Lucky for you, we're here to help you simplify the homebuying process so you can acquire your ideal residence at an affordable price – even if you're forced to deal with an aggressive home seller.
Now, let's take a look at three tips to help you deal with an aggressive property seller and accomplish your desired homebuying results.
1. Remain Patient
It may be tough to deal with an aggressive home seller at times, but those who stay the course can buy a house that matches or exceeds their expectations.
Remember, a patient homebuyer generally is a happy homebuyer. If a buyer avoids rash decisions and remains calm, cool and collected when dealing with an aggressive seller, he or she can boost the likelihood of making the best-possible choices throughout the property buying journey.
2. Focused on Your Desired Results
The ultimate goal of the homebuying journey is to find and buy a house that you can enjoy for years to come. In some instances, an aggressive seller may make it difficult for you to accomplish your goal. But if you prioritize the end results of the homebuying journey, you may be better equipped than others to secure a terrific residence.
If you focus on the big picture, you may be able to reduce the risk that minor issues with an aggressive home seller could slow down the property buying journey. And if you do whatever it takes to achieve your desired homebuying results, you may be able to find unique solutions to various problems.
Don't forget to maintain open communication with a seller. If you open the lines of communication with a seller, both you and a seller can work together to ensure all parties are satisfied with the results of a home sale.
3. Hire a Real Estate Agent
If you're uncertain about how to deal with an aggressive seller, you may want to hire a real estate agent. That way, you'll have an expert negotiator at your disposal.
A real estate agent is happy to negotiate with a home seller and his or her agent on your behalf. By doing so, a real estate agent will minimize the risk of potential property buying delays.
Let's not forget about the frequent updates that a real estate agent provides during a negotiation with a property seller, either. A real estate agent will keep you informed about seller negotiations and ensure you can move along the homebuying cycle. And if you ever have concerns or questions during the homebuying journey, a real estate agent is ready to respond to them at your convenience.
Manage the homebuying journey like never before – use the aforementioned tips, and you can avoid the headaches commonly associated with dealing with an aggressive property seller.