Diane Kelly's Blog
122 Eastern Avenue, Manchester, NH 03104
377 Huse Road, Manchester, NH 03103
What happens if you receive an offer on your home that fails to meet your expectations? Ultimately, you may want to decline the offer. But before you do, there are several questions you'll want to consider, including:
1. Is the offer "fair"?
Let's face it – one home seller's definition of a "fair" offer may differ from another's. However, an informed home seller will be able to differentiate a "lowball" offer from a strong proposal.
A lowball offer typically fails to account for a home's condition and the current state of the housing market. As such, this proposal may fall far below a home seller's initial asking price.
On the other hand, a strong proposal may meet or surpass a home seller's initial asking price. This offer likely accounts for a home's strengths and weaknesses, along with the needs of a both the homebuyer and home seller.
2. Are there any other offers on the table?
If you receive an offer on your home, you'll probably have one to two days to decide how to proceed. And if you have multiple offers in hand, you likely have a lot to think about in a short period of time.
In some cases, the best offer is not necessarily the highest offer, and for good reason.
For instance, a homebuyer may submit an offer on a home that exceeds a home seller's initial asking price. But if this homebuyer has not been pre-approved for a mortgage, he or she likely will need to obtain financing to proceed with a home purchase.
Conversely, a homebuyer who has been pre-approved for a mortgage knows exactly how much money is at his or her disposal. When this homebuyer submits an offer, he or she may be better equipped than other homebuyers to acquire a residence.
3. Can I afford to be patient?
Consider your timeline as you debate whether to decline an offer.
If you're in no rush to sell your home, you can afford to be patient with offers on your house. Or, if you want to relocate to a new address as soon as possible, you should price your home aggressively from the get-go.
4. If I decline an offer, what will happen next?
After you decline an offer on your home, the homebuyer has the option to submit a new proposal or move on to other houses.
As a home seller, it is important to take an informed approach to home offers. With a real estate agent at your side, you should have no trouble making the best decisions on any proposals.
A real estate agent understands the ins and outs of the housing market and can help you evaluate all offers on your residence. He or she can provide you with honest, unbiased real estate recommendations and ensure you can get the best results during the home selling journey.
Collaborate with a real estate agent – you'll be glad you did. A real estate agent will enable you to evaluate home proposals and maximize the value of your house.
33 Gerard Drive, Manchester, NH 03104
Having a home comes with many responsibilities. Sometimes, pressing needs can arise. It might be to repair some home features or to replace them altogether. These situations are bound to occur and can be parasitic on the homeowner's budget.
A home warranty is a program that provides a budget to cover any unforeseen expense in the home. It offers protection on repairs that, typically, are costly.
Home warranty and home insurance—often used interchangeably—is incorrect because there are a couple of glaring differences. While getting your home insured involves specific considerations as the location of the house and the building materials, a home warranty offers funds for costly repairs. Also, home warranty only covers the cost of fixing major appliances and systems as they age. But home insurance is meant to stand by financially in events of unforeseen damages.
Benefits of a home warranty
Home warranty plans come with many benefits to save homeowners the stress of having to source funds suddenly. Here are the crucial reasons why you should get a home warranty.
A home warranty covers costly repairs
Every homeowner has a budget detailing how much they will spend on certain things. In most cases, the chances are high that provision is not available for sudden repairs. What then happens when an urgent need pops up?
With a good home warranty, you don't have to worry about faults in your home that require immediate attention. Enough funds will be disbursed to get a quick fix and keep your home in good shape.
With a home sale, it assures the buyer of a safe deal
When you put up your home for sale, potential buyers consider certain factors. Usually, homes are refurbished to increase their value before they are listed, but things requiring urgent attention can emerge at any time. If you have a home warranty in place, you assure the buyer they have nothing to worry about if such situations occur.
Real estate listings with home warranties are more attractive to buyers
Potential buyers keep an eye out for deals that will save them unnecessary costs after the transaction. This reason is why a home with a home warranty will be a hot commodity in the real estate market.
Homes with home warranties usually sell faster and closer to the asking price
Home warranties give your home value a deserved boost. This attracts buyers to your listing. Any interested buyer will want to get that great home with the warranty before anyone does and so will have less chance trying to bargain the listing price.
These benefits above are realistic and attainable. You just need to find a good, affordable warranty plan.