Four Ways Home Sellers Can Respond To A Purchase Offer

Wilmington NC real estateWhen 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

TIMING: Seven Buying and Selling Secrets To Know Before You Relocate | Wilmington NC

 

www.WilmingtonNC-RealEstate.com

The secret to a successful relocation is timing — synchronized buying, moving and selling. Good timing just takes a little advance planning that puts you in control. Here are seven relocation secrets to make your move work smoothly for you.

Wilmington NC real estate

 

 

1. Sell First

Ideally, you should sell your current home first in order to have all your financial resources available to purchase your next home. You want to avoid waiting until the closing on your new home forces you to sell your old home under the gun. Note that in some markets today, houses are moving so quickly that sellers will not even consider taking a contingency clause that postpones their sale until the buyer’s home sells. Setting the right price for your home and having a customized marketing plan are your best bets for bringing about a quick sale.

2. Find Out What You Can Afford

{short description of image} While your house is on the market, look at what’s available to buy within your price range in your destination area. Your perfect house is out there, but take as much time as you can to find it. It’s not just the house you’ll have to live with — you’ll want to find out about the neighborhood, the schools, proximity to shopping, etc. before you commit to your next home.

3. Shop For A Loan Before You Shop For A House

Try to lock in the best rate you can find. Get pre-approved for financing so you have more bargaining power when you bid on a house. With a pre-approved loan, you’ll be able to go to closing on your new house faster.

4. Coordinate Settlements And Moving Dates

Try to move directly from the old home to the new one. Sometimes you can rent back the old property for a few days or weeks if closing on the new one is delayed. Another alternative is an interim move to an apartment for a short time while waiting to close on the new house.

5. Begin Fix-Ups And Pre-Sale Improvements Early

Have any needed work completed before your house goes on the market. Consider having a home inspection early in the fix-up process so you know what’s important to repair or replace before you set the sales price for your house.

6. Work Closely With Your Agent

Make sure every “i” is dotted and every “t” crossed on time for both closings. You may save time and money for the buyer of your old home with lower “re-issue” fees by referring them to the previous providers of inspections, surveys, title insurance, etc. The information is in your settlement papers. And, if it’s a busy season, line up appointments in advance with the people you’ll need to close on your new house.

7. Avoid The Last-Minute Rush

Call us early. We’ll gather information and provide it to you quickly so you can make informed decisions and workable plans.  910-202-3607 or bakerwayneassociates@ec.rr.com

How Much Will it Cost to Sell Your Home? \ Wilmington NC real estat

http://www.WilmingtonNC-realestate.com

Pile of cash

“How much will it cost to sell my Wilmington NC  home?” The answer to that common question generally falls into 3 major categories: fixing to sell, closing the sale, and moving.

You may have additional expenses connected with buying and settling into a new home: trips to your new area while house hunting, meals, lodging, buying furnishings, etc. Some of these expenses are tax deductible, but only if you are being transferred by an employer (who does not reimburse you) or are moving to a new job.

Here are the major expense categories:

  • Fixing to sell: This is not the time to add on or remodel the kitchen or make other major improvements – even though many such improvements often pay, at least partially, for themselves when you sell. Now is the time to make your home fresh, clean, and neat, with an eye to getting your top price. This may call for buying paint, soap, wax, putty, tiling, carpeting or plumbing parts. It may also call for paying professional carpenters, plumbers, yard and cleaning people to do the work for you.
  • Closing costs: As a seller, you can typically look forward to more income than outlay, especially if you’ve built up a substantial amount for your home equity. Possible refunds may include money you’ve already paid on your mortgage, insurance premiums, future property taxes, service contracts, heating fuel you’ll turn over to the buyer, utility deposits and the balance of any escrow funds held by your mortgage lender.
  • Moving costs. If you choose not to move yourself, or if you aren’t being reimbursed by your employer, your largest moving expense is apt to be your professional mover. Moving companies provide a variety of services and a range of fees. To save as much as possible, shop for the best combination of rates, services and insurance, plus reputation for reliability. A non-binding estimate is apt to be lower than a binding one, but there’s no guarantee that your belongings won’t exceed the estimated volume or weight. The best tack is to go for a “binding-or-less” estimate, which should include not only volume or weight but, also, unforeseen expenses at your destination (extra carrying distance, bad weather, etc.)

Some other cost-saving tips: take only what you’ll use at your new home; do your own packing; insure your belongings sufficiently; take your valuables with you, personally, or send them by registered or insured mail.

Although we advise sellers to realistically anticipate their selling expenses, the bottom line is how much cash a seller walks away with after sale. If you’re interested in selling soon, we’ll be happy to provide a Net Proceeds Analysis for your house. Your call is welcome any time.