Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 12/18/2016

The housing market presents many opportunities for homebuyers. And after the right amount of research, you're sure to find plenty of exceptional houses that suit you well. But how do you know when you're ready to submit an offer on a residence? Determining the "perfect" offer for a house is key, and if you feel comfortable with your proposal, you may be better equipped to receive a resounding "Yes" from a home seller. Improve your chances of submitting the perfect offer on a residence – here are three tips that you can use to submit the right offer on a home: 1. Consider the Home Seller's Perspective. Of course, when you submit an offer, you likely want to make a proposal that fits your needs and budget. On the other hand, you must consider the home seller and ensure your offer represents a fair deal for both sides. If you submit a "lowball" proposal, there's a strong chance that a home seller will reject it immediately. Conversely, if you submit an above-average proposal, you may wind up paying a price that exceeds your budget. To make the right offer, evaluate the home seller's price as well as the price of similar homes in an area. By doing so, you'll be better equipped to make an offer that corresponds to the current housing market. Also, don't be afraid to discuss your proposal options with your real estate agent, as this professional may be able to offer insights that you can use to boost your chances of getting a "Yes" from a home seller. 2. Prepare for Plan B. Even if you consider your offer to be fair for both you and a home seller, there are no guarantees that a home seller will feel the same way. Thus, you need to be prepared to act quickly in the event that a home seller declines your offer. If a home seller says "No" to your proposal, you can always submit another offer. Or, you may want to consider moving on and evaluating other homes that are available. 3. Be Realistic. It is essential to feel comfortable with an offer you submit on a house. And the moment things start to make you feel anxious, you may want to reconsider your options. For example, a home seller may counter your initial proposal, but you might lack the finances to meet this seller's expectations. In this scenario, you should be unafraid to walk away. That way, you can avoid the dangers associated with over-extending your budget, which could put you in a tough financial position down the line. Remember, the perfect offer on a residence is one that fulfills the needs of both a homebuyer and home seller. If you feel uncomfortable with a home seller's counter offer, you need to understand the situation and act accordingly. Submitting the perfect offer can be tricky, especially if you're dealing with a home seller who sets the bar high for his or her residence. Fortunately, your real estate agent can help you alleviate the stress commonly associated with making an offer and ensure you are fully supported throughout the homebuying process. Work toward submitting the perfect offer on a home, and you can bolster your chances of a home seller accepting your proposal.





Posted by Thomas Murphy on 4/13/2014

After lots of searching you have found the house that you'd like to call home. Next step, you'll need to make an offer. Purchase contracts vary from state to state but a basic offer includes the price you're willing to pay for the house, your financing terms, and contingencies. When it is time to put your offer on paper you will want to make sure it is well planned. There are seven key elements to a good offer: 1. A realistic offering price In order to put forth a great offer you will want to set your price based on similar homes recently sold in the neighborhood. Your real estate agent will help you look at comparable properties to determine that price. You will also want to keep in mind the state of the market in your area. If homes are selling quickly and receiving multiple offers, you'll need to bid competitively. If home sales are slower you may want to be a little more conservative in your offer. 2. Realistic financing terms Always make sure you are pre-approved for a loan before making an offer. Include proof that you are pre-approved with your offer, many lenders will give you a letter. 3. A property inspection clause A home inspection clause will give you a chance to have the property inspected. You will want to use a professional home inspector to thoroughly inspect the property you are buying. 4. Any concessions or contingencies Sometimes there are additional items that should be covered in the offer. You will want to outline any concessions like closing costs or repairs. If you are financing your home you will need to include a financing contingency. 5. Conveyances Always put in the offer what is included in the sale. For instance, a washer and dryer or any other items that are included in the sale of the property. 6. A deadline An offer should always include a deadline for a response. 7. It is all in writing Everything should always be in writing. Never rely on verbal agreements.