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Is It A Good Idea To Go Over Asking Price?

July 16, 2021 by chorton Leave a Comment

It is important to consider the price of homes for sale when making an offer. You risk losing your offer if you offer too much and the bank might not value the home at the amount that you have offered. However, this does not mean that you should offer more than the asking prices for a home. This strategy might sound odd at first. The sticker price of a car is what you would offer, but the extra $100 for a barbecue at the shop is not something you would do. However, buying real estate is a different matter. Sometimes, it makes sense to offer more than the asking price.

There will be many offers. We are currently in a seller’s marketplace. This means that there are more buyers than homes available. Sellers receive multiple offers for their homes. They will accept the highest offer, naturally.
To be competitive in such a market, you will often need to offer more than the asking price. You are more likely to win the deal if there are three bids at the asking price but you offer 2% more than that.

The house is priced well below market. Sellers who are motivated and want to sell their house quickly will sometimes under-price their property. This will attract more attention and result in multiple offers.
If you or our real estate agent agree that a home should be priced lower than it is, then asking for more than the asking price makes sense. In order to score a deal, you will outcompete other buyers by offering higher asking prices. However, you won’t overpay.

A cash offer must be rejected. Imagine your agent talking to the buyer’s agent about the pending offer for the home. It’s a cash deal. Cash offers are difficult to beat. Cash offers are attractive because they require less work and take a much shorter time to close.
You can make a similar deal, but the seller will likely choose the financing offer. You can make it worth while for the seller to accept your offer by asking for more than the asking price

In the past, multiple offers were turned down by the seller. What if multiple offers have been made on the house but none have been accepted? Although the home is still available for sale, you don’t want another buyer to reject your offer. This behavior is commonly referred to as “unmotivated selling”. Sellers will only sell if they feel it is worth the effort. You can make an offer instead of asking if you truly want the house.

It is impossible to let go of your home. Perhaps this is the only house you have seen that suits your needs. Perhaps you have a deadline and can’t wait to make an offer. It’s a great way to get extra insurance and make sure you don’t lose your home by making an offer above the asking price.

Deciding how much to offer for a home isn’t always easy! It’s important to have a good agent on your side to help you make these decisions. Contact us if you’re looking for a reliable agent to guide you through the home buying process.

Filed Under: Blog, Buying a home, Homes for Sale Tagged With: Blog, buying a home, buying homes, homes for sale, Homes for sale Stephenville TX, real estate

Over Improving Your Home May Not Be A Good Thing

June 12, 2021 by chorton Leave a Comment

You love good things, the finer things in life, fine information and all of the conveniences that a home provides. You purchased your house and updated to a top of this line everything on your Kitchen, on your Baths, your home’s floor, your fittings, your window coverings, your landscaping and so much more. It is your house and your need the very best.

When you look around the area, your neighbor’s home appears  paltry compared to yours. You enjoy being the cream of this crop, the King of the Castle, so to speak.

Now you are thinking you wish to sell your property. You have been looking at current home sales. You have noticed that the local house sales are coming in considerably lower than that which you believe your house is worth. You are confident that your house will sell for much more that what other homes are selling for as well as when compared to larger houses with more bedrooms. Why could these shut sale costs be far off, you wonder? Regrettably, you probably over enhanced your house for the area. As mentioned previously, you decided the very best of all, because you worked hard and you’ll be able to afford it, but doing this is not a fantastic thing, if you are worried about resale value. Over improving a house that is located inside a neighborhood in which your house is the Castle in the area, will probably disappoint you if the time comes to put up your home for sale, since it’s going to be exceedingly tough to recover your upgrade prices when none of those other houses had the high end updates, compared to your house. This may lead to losses, since most buyers won’t wish to pay over market worth simply to receive your house’s upgrades. They might take their cash and purchase at a place where similar attributes are more common. Then, when it is time for them to market their house, they will not be confronted with the possibility of declines because of being over improved to your area.

Give Preferred Properties of Texas a call. We will provide you with additional Real Estate tips.

Filed Under: Blog, Home Improvements, Real Estate Advice, Selling Your Home Tagged With: Blog, home for sale, homes for sale, real estate advice, selling a home

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