Donna Moy-Bruno's Blog
If you receive a "lowball" offer to purchase your house, your first reaction may be to respond with an immediate "No." However, it is important to evaluate any offer to purchase your house closely. Because if you weigh the pros and cons of rejecting an offer to purchase your home, you'll be better equipped than ever before to make an informed decision about any homebuying proposal you receive.
Now, let's take a look at three factors to consider before you reject an offer to purchase your residence.
1. Your Home's Price
What you may consider to be a lowball offer to purchase your home may actually be a competitive homebuying proposal – it all depends on the current state of the housing market. Thus, if you analyze the housing market, you can find out how your home's price stacks up against the prices of comparable houses and review an offer to purchase accordingly.
If you find your home's price falls in line with similar houses in your city or town, you likely have a competitive initial asking price in place. And if a buyer's offer to purchase your home falls short of your house's initial asking price, you may want to decline the proposal.
On the other hand, if your home is priced much higher than comparable residences in your area, you may want to adjust your home selling expectations. In this instance, you may find a lowball offer to purchase turns out to be a competitive homebuying proposal. As a result, you may be more inclined to accept the proposal based on the current housing market's conditions.
2. Your Home's Condition
Oftentimes, buyers will account for potential home repairs or upgrades they will need to complete if they acquire a house. This means a buyer may submit an offer to purchase below a seller's initial asking price due to the fact that a house may require assorted repairs or upgrades in the near future.
Take a look at the condition of your home – you'll be glad you did. If you find your home is in need of significant repairs or upgrades, you may want to consider these projects before you reject a buyer's offer to purchase your house.
3. Your Home Selling Goals
It generally is a good idea to start the home selling journey with goals in hand. That way, if an offer to purchase your house allows you to achieve your home selling goals, you can accept the proposal. Or, if an offer to purchase your house moves you further away from accomplishing your home selling goals, you can reject the proposal.
As you get set to complete the home selling journey, you may want to hire a real estate agent too. This housing market professional can help you assess any offers to purchase your house, at any time. By doing so, a real estate agent can help you determine how to proceed with an offer to purchase and ensure you can make the best-possible decision.
According to the US News World Report - Best High Schools 2017 , Framingham High School is ranked 32nd within Massachusetts. Students have the opportunity to take Advanced Placement® course work and exams. The AP® participation rate at Framingham High School is 55 percent. The student body makeup is 51 percent male and 49 percent female, and the total minority enrollment is 33 percent. They were given a score of 51.0 on the college readiness index
Framingham High School was ranked higher in MA and in the National rankings than many neighboring towns
A real estate agent devotes her entire workday to listing, reviewing, buying and selling property. It's not uncommon for a real estate agent to buy and sell homes in only one city or region. This is where real estate agents earn their chops. Their local or regional focus helps to make them market specialist.
They know what's selling, where the best sells are and at what price. It could take you months, maybe years, to learn what an experienced real estate pro knows. Whether you're buying or selling your house, a real estate agent knows how to negotiate mortgage deals with lenders, other agents and house owners who are working toward direct sells.
You deserve the right answers from your real estate agent
Yet, all real estate agents are not equally experienced, knowledgeable or fully devoted to their clients. Set yourself up for a profitable house buying or house selling experience. Ask your real estate agent these important questions.
How long have you been working full-time as areal estate agent? Top real estate agents, are fully invested in their career. Buying and selling homes isn't a side gig for them. Since markets shift, the more experience agents have, the more likely they are to spot changing trends.In addition to finding out how experienced a real estate agent is, make sure that your agent is in good standing with state licensing agencies.
What types of properties do you generally buy or sell? A real estate agent who mainly buys or sells land properties or commercial properties may not secure the best house deal for you.
About how much do you think I can get for my house in the current market? Answers to this question can reveal how honest a real estate agent is. It can also let you know if you'll get more for your house if you wait a few months to sell or to buy.
Regarding advertising and marketing, what do you do to get the word out about houses you are selling? If you're in the market to buy a house, ask your real estate agent how they research available houses. You want a real estate agent who researches houses in databases, online and in person. You also want an agent who has great personal and business contacts that allow him to know about available houses as soon as they hit the market. Furthermore, agents who work for established realtor agencies may have access to larger databases and more research resources.
How many clients are you currently working for? Good real estate agents are in demand.Just make sure that your real estate agent has the bandwidth to offer you the support that you need.
What are your fees and what's included in your fees? Top real estate agents may have 20 or more clients under contract. This volume could give you more negotiating room when it comes to setting a fee. It could also make an agent hard to reach,which is why you should ask the next question. Find out if services like home staging and open house are included in the fees.
How often will you be in touch? You need to know when to expect to hear from your real estate agent. Also, find out if your agent will contact you in-person, via the telephone, during digital face time or via email.