Few motivated sellers list in A clearinghouse through which member real estate brokerage firms regularly and systematically exchange information on listings of real estate properties and share commissions with members who locate purchasers. The MLS for an area is usually operated by the local, private real estate association as a joint venture among its members designed to foster real estate brokerage services.. Generally, sellers reject low offers in any market condition. As time passes, sellers rejection of a lower A formal bid from the home buyer to the home seller to purchase a home. is less likely. In a today’s seller’s market, offers are often higher than full price. At the initial An agreement of which a property is marketed through a service or association composed of several agents with fees and a commission from the sale of a property shared between the selling broker and the listing broker., offers at or above full price are more likely accepted. There are other considerations making offers less or more attractive:
- Is the offer contingent upon anything, such as the sale of the buyer’s current house? If so, even at full price, the offer is not as attractive as one without that condition.
- Is the offer made on the house “as is”? Does the buyer want repairs before the close or a price Something given up or agreed to in negotiating the sale of a house. For example, the sellers may agree to help pay for closing costs.?
- Is the offer all cash and without a financing A condition that must be met before a contract is legally binding. For example, home purchasers often include a home inspection contingency; the sales contract is not binding unless and until the purchaser has the home inspected.? A cash offer might be more attractive than a higher offer with a financing contingency.
- Is the offer asking for sellers contribution to The upfront fees charged in connection with a mortgage loan transaction. Money paid by a buyer (and/or seller or other third parties, if applicable) to effect the closing of a mortgage loan, generally including, but not limited to a loan origination fee, title examination and insurance, survey, attorney’s fee, and prepaid items, such as escrow deposits for taxes and insurance….? If so, the offer amount is offset by the contribution.
- How big is the A portion of the price of a home, usually between 3-20%, not borrowed and paid up-front in cash. Some loans are offered with zero down-payment.? A large down payment can reduce sellers A professional analysis used to estimate the value of the property. This includes examples of sales of similar properties. risk. A conventional loan is less restrictive than a VA loan.
- Is the offer reasonable based on market conditions and market analysis? Sellers want what they are asking whether reasonable or not.
Any offer should consider market conditions, neighborhood characteristics, property condition, timing, comparable sales, among other factors. The goal is to get the deal at the lowest price and negotiate other concessions after inspection and appraisal. We are willing to represent you in making any reasonable offer. We work with you to place an offer taking those considerations in mind.
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