Four Ways Home Sellers Can Respond To A Purchase Offer

When a home is for sale, a homebuyer who wants to purchase the property will submit a purchase offer to the seller. The offer is valid for a specified amount of time.

Sellers can do one of four things with the contract:

1. Accept contract as-is.

The seller agrees to the offered price and terms and signs the contract. Next step is for buyer to proceed to get closed/settled on home (arrange inspections, finalize financing, etc.).

2. Counter contract with different price, terms, conditions.

Most often, sellers may take issue with the price and/or terms or conditions offered. To keep the negotiation going, sellers may counter on any part of the contract. Buyers should be prepared to accept the counteroffer or continue negotiating.

3. Reject contract in its entirety.

It’s possible that the purchase offer is too unrealistic (too low of a price offered, unrealistic terms, etc.) and the seller will choose to not counteroffer. Ensure that there is open communication between the real estate professionals representing each side to resurrect negotiations or submit a new, revised purchase offer based on seller feedback.

4. Let the contract expire.

Very rarely would a motivated seller allow a contract to expire. Again, make sure the lines of communication are clear between the real estate professionals involved if this appears likely.

Let us help. kaybakerassociates@ec.rr.com or http://www.cbbaker.com

Do You Know How to Do Your Own Pre-Purchase Inspection? | Wilmington NC real estate

Buying your first – or any – home means taking a cool look at what you’re about to invest in. Here are four major items to check out before you write your check.

• Sills, beams.

• Possible defect: Rot caused by moisture or boring insects.
• Check method: Poke wood with knife for spongy spots, especially near the foundation. Request certification of most recent termite inspection.

• Windows and Doors.

• Possible defect: Sticking, poor weather stripping.
• Check method: Try all openings and note kind and condition of weather stripping.

• Plumbing.

• Possible defect: Aging, leaking pipes; inadequate water heater or water pressure.
• Check method: Note kind of pipe (copper is best); compare heater’s capacity with family needs; try faucets while flushing for steady faucet flow.

• Electricity.

• Possible defects: Insufficient voltage; too few outlets.
• Check method: Compare number of amps to appliance requirements; count outlets.

Our professional staff is waiting to help you find the home of your dreams. Call or e-mail us to find out more.

Brilliant Colors at Wrightsville Beach This Weekend | 6th Annual Cape Fear Kite Festival

Join us for a fabulous display of arty and whimsical kites November 8 & 9 at Shell Island Resort on the beach.  (www.shellisland.com) Do not miss the 6th Annual Cape Fear Kite Festival.  A brilliant show of color in the sky at beautiful Wrightsville Beach NC.  Event runs from 10:00 – 4:00 PM both days. If you see any real estate that you are interested, you can look it up on your phone at mobile.cbbaker.com.  Enjoy!

USDA 100% Financing in Wilmington NC | Real Estate

Rates are still down, now is the time to buy a home.

Wilmington NC real estate

http://www.WilmingtonNCrealestate.com

There is still USDA 100% financing money available on certain homes in the area. This is a possible Scenario –

$100000.00 Purchase Price

2% Guarantee Fee ($2000.00) added to the purchase price equals a financed amount of $102000.00

If the interest rate were 3.875% (APR 4.12%) the principal and interest would be $479.64

***then add the monthly amount of .03% which in this example would be $30.60***

The payment is $510.24 before taxes and insurance

Click Here for a partial list of USDA homes in New Hanover County –

USDA is still an amazing loan and this monthly fee should not discourage buyers from using this program because this is most often the most economical way to purchase a home.

Kristina McLeod

New American Mortgage

USDA Quick Guidelines

· 100% Financing on a low 30 year fixed rate
· No PMI
· 2% Guarantee Fee (Ex. Purchase price $100000.00…

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What are the essential steps every first-time buyer should know?

http://www.WilmingtonNC-realestate.com If you think it’s about time you bought a home instead of renting, a little homework before you start looking will increase your odds of finding the best buy for you. First, you must educate yourself about the home buying process. You can take a class or pick up books from your local library. Also be sure to read the real estate sections of your newspaper to familiarize yourself with properties and prices in your area. Consumer magazines that focus on the home can also be a good source of information. Here are some things you will want to do: Separate needs from wants What are your priorities for your next home? How important are public transportation, community facilities, on-street parking, lot size, privacy? How many bedrooms and baths will you need? Will you need a space for a home office? How important are quality neighborhood schools? Investigate neighborhood prices What neighborhoods feature homes in your price range? Are there areas you may have overlooked? With the help of a trusted real estate agent, you may discover neighborhoods and home types you may not have considered. We’ll introduce you to a wide range of possibilities and help you find the home that best suits your needs. Determine how much house you can afford It’s tough to home shop if you don’t know what you can afford. Together with a reputable lender, we can help you determine how much home you can afford and which loan program will maximize your buying power. Also, by getting pre-approved for a loan before you start looking for your first home, you’ll be a better prospect in the seller’s eyes. Shop for the best loan Which type of loan is best for you? Will you be in the house several years and benefit most from a long-term fixed rate, or do you want a lower, short-term rate because you plan to move soon or expect your income to increase rapidly over the next few years? You may want to interview several lenders to learn about the many mortgages available. Check out interest rates What are current local mortgage interest rates for 15-year and 30-year fixed rate mortgages, and for 1-, 3- and 5-year adjustable rate mortgages? Dig up your down payment Know where your down payment cash will come from. If it’s coming from stocks, go ahead and sell them. If Aunt Mabel is loaning you the money, get it in hand so you are ready to go. Relax and let an experienced real estate agent to help you through the process Buying your first home can be an overwhelming experience, but, with the help of a professional real estate agent, you can easily manage the process and confidently close the deal. Chances are you can answer a couple of these questions on your own, but you may need some assistance with others. If you do, please call or e-mail us. We can make sure you have the preliminary house-hunting information you need.

ENERGY SAVERS – Keep your Kitchen from Eating Your Income.

Wilmington NC real estate

 Kitchens are energy-intensive rooms thanks to modern appliances designed to make life, and eating, easier. The U.S. Department of Energy offers the following tips for cutting energy consumption in the kitchen without sacrificing convenience.

• Skip the pilot light. If you’re thinking of replacing your current range or oven with a new gas model, opt for a unit with an electronic ignition. Pilot lights burn gas–and money–24 hours a day.

• Check the flames. If gas is being burned efficiently by your range or oven, the flames should be blue. If they’re yellow, call in a professional to have the unit adjusted or repaired.

• Clean range burners and pans. Clean burners and pans reflect heat better, thus using less energy.

• Turn off early. Electric ovens retain heat for quite a while after they are turned off. By turning the heat off several minutes early, you can use the…

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LOCATION: The Most Important Questions Every Buyer Should Ask

It’s a maxim in real estate that the three most crucial factors in selecting a home are “location, location, location.” It’s also true! No matter how wonderful the home is, the location is key to how well you’ll like living in it and how well it sells when you’re ready to move on. Before you buy, carefully check the following factors to be sure the home you like is really the one you want to live in.

Consider destinations

Where will family members go most often from this new location? How easy is it to reach those places from the home? How accessible are schools, churches, grocery stores, medical care, public transportation, shopping malls and emergency services?

Be sure rooms have a view

What is the view from the home and yard? Is the yard right for your anticipated activities? What uses are possible for nearby undeveloped land? Is a new road or commercial development planned?

Check around the clock

Is rush hour traffic a problem? What will be the impact of special events such as local high-school games or church picnics? Test the driveway. How easy is it to get into and out of the driveway?

Be service conscious

What utilities serve the property? Are the rates competitive? Do you want an all-electric home, or do you want gas or oil heat? Where will your mail get delivered? Are there any easements?

Dig below the surface

Is the soil stable? Is part of the property on a flood plain? If so, what is the history of floods on the property and what would flood insurance cost?

Visit the neighbors

How will you fit in with the neighbors? Do people seem to be friendly? Are homes well-maintained?

Read the fine print

If the community has special by-laws or architectural controls over changes to a homes in the area?Make a list of the positive and negative aspects of each property as you tour it. Assign priorities to important elements of the home’s location. If you have questions about a home’s location, we can help. Call or e-mail us now.

 

I Have A Dream | Martin Luther King Parade Downtown Wilmington NC 2014

www.WilmingtonNC-realestate.com

This year’s Martin Luther King parade will be held in downtown Wilmington NC. and it is expected to be bigger than ever.  Over the years the parade and festivities have grown and a new venue should allow more visitors.
The MLK Parade Monday – January 20, 2014 Parade Begins 11:00 NOON Historic Downtown Wilmington Parade starting point: Front St. & Hanover St.  Here is parade route if you would like a pick a spot to watch.  Route

There are many local events leading up to the parade on Monday.  Some of them are:

For more information please visit the website  http://www.mlkjrcelebration-senc10.com/index.htm

Enjoy….

http://www.cbbaker.com

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2013 in review | Wilmington NC Real Estate Blog

The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog.

Here’s an excerpt:

A New York City subway train holds 1,200 people. This blog was viewed about 4,900 times in 2013. If it were a NYC subway train, it would take about 4 trips to carry that many people.

Click here to see the complete report.

Woof 2 Wash