Bo Lee - CENTURY 21 Commonwealth



Posted by Bo Lee on 4/1/2018

As a first-time homebuyer, it is easy to feel plenty of optimism as you search for your dream residence. And if you find your ideal house, it may seem likely that a home seller will accept your offer on the residence right away.

However, it is important to remember that a home seller might reject a first-time homebuyer's proposal, regardless of whether this homebuyer submits a competitive offer. In this scenario, a homebuyer needs to know how to move forward and continue to pursue his or her perfect residence.

What should a first-time homebuyer do if a home seller rejects an offer on a home? Here are three tips that every first-time homebuyer needs to know.

1. Learn from the Experience

If a home seller rejects an offer on a house, there is no need to worry. In fact, a first-time homebuyer may be able to resubmit an offer and find out why a home seller rejected his or her initial offer.

For example, a first-time homebuyer may lack financing at the time that he or she submits an offer on a house. But if a homebuyer gets approved for a mortgage and returns with a new offer, he or she may be more likely than before to gain a home seller's approval.

On the other hand, a homebuyer should be ready to move forward with a home search if necessary. Thus, if a home offer is rejected, try not to get too emotional. Instead, a homebuyer should be prepared to reenter the housing market and start his or her search for the perfect home from stage one.

2. Don't Dwell on the Past

For a first-time homebuyer, it can be frustrating and annoying to conduct a home search, find the ideal home and receive a rejection after a proposal to buy the house is submitted. But there is no reason to dwell on the past for too long, as doing so may force a homebuyer to miss out on opportunities to pursue other residences.

Remember, the housing market often features dozens of outstanding houses to match all homebuyers' price ranges. This means if you receive a rejection on one home proposal, you can always restart a home search. And ultimately, a diligent homebuyer should have no trouble discovering a terrific residence, even if his or her initial offer on a residence is rejected.

3. Consult with a Real Estate Agent

A real estate agent is a housing market expert who understands what it takes to submit a competitive offer on a house. Therefore, he or she will help you prepare a fair offer on a home before you submit it.

If a home offer is rejected, a real estate agent can help you alleviate stress. This housing market professional may be able to explain why the offer was rejected and help you plan your next steps in the homebuying journey.

Don't worry if your first offer on a house is rejected conversely, use these tips, and you can move one step closer to acquiring a stellar residence that matches or exceeds your expectations.




Categories: Buying a Home   buying tips  


Posted by Bo Lee on 1/28/2018

When it comes time to attend a home showing, it helps to be prepared. That way, you can check out a house from top to bottom and confirm that this house fits your needs.

Ultimately, there are several important steps that a homebuyer should take before attending a home showing, and these are:

1. Review the Home Listing

Reading a home listing often serves as a first opportunity to evaluate a house and determine whether it could be your dream residence. As such, you'll want to review the listing closely to verify your interest in a house.

Oftentimes, reading a home listing a few times is a good idea. This will enable you to analyze all aspects of the listing and ensure it is worth your time to visit a house in-person.

2. Create a Home Showing Checklist

Although a home listing likely provides lots of information about a house, there may be plenty of unanswered questions that you have about a residence. Fortunately, a home showing gives you the opportunity to ask questions and receive insights into a house that you won't be able to receive elsewhere. And if you craft a home showing checklist in advance, you'll be ready to get the information that you need to fully assess a residence.

Remember, there is no such thing as a "bad" question, particularly when it comes to evaluating a house. If you make a list of questions before a home showing, you'll be able to receive responses that can help you make an informed decision about whether to submit an offer on a house.

Don't forget to include different areas of a home in your home showing checklist, either. In most cases, you'll want to evaluate a house's roof, attic and other areas to determine whether costly, time-intensive repairs may be needed in the near future.

3. Consult with a Real Estate Agent

Preparing for a home showing may prove to be difficult, particularly for a buyer who is attending a showing for the first time. If you consult with a real estate agent, however, you can get the help that you need to prepare for any home showing, at any time.

A real estate agent is a homebuying professional who understands the ins and outs of evaluating a residence. He or she can provide expert home showing preparation recommendations and serve as a guide throughout the showing itself.

Perhaps best of all, a real estate agent is happy to help you at each stage of the homebuying journey. If you have questions before or after a home showing, a real estate agent is ready to answer them. And if you want to submit an offer following a showing, this housing market professional can help you submit a competitive proposal at your convenience.

Don't wait to kick off your search for the perfect home. Instead, follow the aforementioned steps, and you can prepare for a home showing and move closer to acquiring your ideal residence.




Categories: Buying a Home   buying tips   showing  


Posted by Bo Lee on 11/12/2017

What should you expect after you make an offer on a residence? There are several steps that will take place between the time you submit an offer on a house to the date you finalize a purchase agreement, including:

1. Acceptance or Rejection of Your Initial Proposal

A home seller will have a short period of time to accept or reject your initial offer.

If a home seller accepts your proposal, you'll be able to move forward in the homebuying process. Conversely, if he or she rejects your offer, you may be forced to restart your home search.

On the other hand, a home seller may counter your offer as well. In this scenario, you likely will be given a set amount of time to accept or reject the counter-proposal. Or, you may be able to further negotiate with a home seller in the hopes of finding common ground.

The time between when you submit an offer on a home and receive a home seller's response to your proposal can be stressful. Fortunately, working with an experienced real estate agent ensures that you'll be able to stay up to date. This real estate professional will even help you put together a competitive offer on any home, ensuring that you can boost your chances of getting an instant "Yes" from a home seller.

2. Completion of a Home Inspection

Although a home seller has accepted your initial proposal, you'll still want to conduct a thorough home inspection to identify any major property issues.

For example, if a house has a faulty roof or defective hot water heater, an expert home inspector will be able to uncover such problems immediately. That way, you can learn about issues that may impact the long-term value of a home as part of an inspection.

If you find out about major issues with a home during a property inspection, you can rescind your initial offer and walk away from a house. Comparatively, if you still want to buy a home in spite of problems that were discover during an inspection, you can ask the home seller to complete home repairs or upgrades. You also may want to consider asking for a price reduction if major home repairs or upgrades are needed.

Ultimately, a home inspection will help you make an informed homebuying decision. After a home inspection, the ball is in your court, and you can choose to move forward with the purchase of a home, revise your initial offer or remove your proposal altogether.

3. Relocation to Your New Address

The final step of the home selling process involves closing on a home and relocating to your new address. At this point, all you'll need to do is pack up your belongings from your current location and move them to your new home.

Purchasing a home may seem impossible at times, but the homebuying process often gets easier as it progresses. Plus, homebuyers who collaborate with an experienced real estate agent can receive plenty of support as they navigate each stage of the homebuying journey.




Categories: Buying a Home   buying tips  




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