Posted by admin on January 30th, 2007
And should I make one, or accept one?
A backup offer is an offer that is negotiated like any other offer until the buyers and sellers reach a price and terms that are mutually acceptable. A unique term of the agreement is that it is accepted as a backup offer subject to the collapse of a previously accepted offer that is in primary position.
Backup offers are an much underused aspect of real estate negotiations. If you are looking for a home to purchase, you make a backup offer on a property that is currently under contract and continue looking. You simply make an offer and go through the negotiation process as if you are making the original offer. Once you and the seller agree on the terms, your backup contract sits in limbo until the original contract is closed or the deal falls through. The whole idea is to have an offer on the table should the original deal not work out for any reason.
For sellers, it’s a great tool for leverage. You never know when a deal could fall through. There are many reasons why contracts don’t close - financial matters, seller changes his mind, property conditions, unfavorable mortgage terms. If the deal does not close then the seller must continue marketing his home. A backup offer saves time and reassures you that your home is of interest to the market.
See Also
- Contract Forms
Need contract forms? You can order your own contract package right here for one low price. Everything you need in one package.
Posted by admin on January 29th, 2007
This newly renovated home could be just what you are looking for
- MLS Number: W416142
- Property ID#: 6102
- List Price: $118,900
- Postal Code: 27407
- Subdivision: Holden Farms
- Total Rooms: 9
- Bedrooms: 3
- Full Baths: 2
- Square Feet: 1500
- Half Baths: 0
- Year Built: 1985
- Style: Ranch
- Elementary: Sedgefield
- Middle: Allen
- High School: Smith
- Appliances: stove, dishwasher
- Basement: null
- Exterior Construction: Vinyl
- Exterior Features: Deck
- Cooling System: Central AC
- Cooling Fuel: Electric
- Heating System: Forced Air
- Heating Fuel: Natural Gas
- Water: city
- Sewer:city
This home has recently renovated with new vinyl siding, carpeting and vinyl floors. It has new paint all the way through, beautiful cathedral ceilings, fenced back yard and a storage shed. You can see a photo by clicking the link below.
See Also
- Contact The Owner
Find out more about this property now or call the owner for a showing.
Posted by admin on January 28th, 2007
Then refuse to listen to solid advice
If you aren’t getting many showings or offers - that’s a sign.
Most people think that if their home isn’t getting shown enough - it MUST be the agent’s fault.
Well, you shouldn’t blame your agent for everything. Sometimes, home sellers just aren’t paying attention. They’re not paying attention to their agent, the market or the buyer’s who are telling them they are just priced too high. In a word, it’s easy to get attached to the fantasy that somehow your house is worth more. Don’t be taken in by it.
First, you need to get a comparative market analysis of your house to see what other houses in the same neighborhood with similar amenities have sold for. Then, and only then, should you set a price. Don’t base it on what sold last year. Your comps have to be recent enough to give you a decent view of how the market is operating today. Otherwise, you could end up overpricing your house and an overpriced house won’t sell.
See Also
Posted by admin on January 27th, 2007
Pay only for the services you use
A owner seller purchase contract is really no different than any real estate purchase contract. It contains all of the same terms and is usually called a real estate purchase agreement. A real estate transaction is the same regardless of whether you use an agent or not, so there really isn’t any need for a specific owner seller sales contract.
In general, all of the required contracts and forms for a real estate transaction are purchased in a group. Typically, these documents are offered as a for sale by owner kit. There are different ways of obtaining them, however the internet has provided one of the easiest methods. For nearly no cost, anyone can download all of the documents need to get through the transactions. In fact, these are the same pre-printed forms used by most realtors.
It’s OK to admit you don’t understand contracts. Everyone can’t be good at everything.
You know your real estate, can compare properties and price with relative ease … selling, no problem. But, ewwww those contracts. Believe me, I understand.
Contracts can be confusing. But when you sell your house yourself through IHS Realty, you can actually get contract assistance. You only pay for it if you use it. That’s the beauty of flat fee services. Use the service you want and pay only for that service. It makes the cost of a broker a lot more affordable and reasonable. Wouldn’t you agree?
See Also
- Contract Assistance
Get the support you need with a qualified contract expert who will assist you with preparing and review purchase agreements and provide you with all the necessary forms.
Posted by admin on January 26th, 2007
IHS Realty doesn’t throw you to the wolves
(FSBO) This home seller comes in two varieties. The first is the Investor. He or she has done this before. They have bought houses to be fixed up and flipped or they have rental properties that they buy and sell with some frequency. At one point in time, he was probably in the business as an agent or lender. By handling the listing himself, he is trying to increase his profit margins. He also is aware of market conditions and is probably in a sellers market. This makes it a lot easier to get the home sold in a reasonable amount of time. He is very commission sensitive.
The second Mr. FSBO is the Reader. He has seen and read about other people who go the FSBO route and now that he needs to sell his home he thinks he can do it also. Usually, the Reader has bought several books about selling his own home as well as some on buying homes with no money down and real estate investing. Although sometimes this need to sell the house himself comes from necessity (house is worth less than when he bought it), most of the time it comes from a combination of too much time coupled with disenchantment with the real estate profession.
This is an interesting take on FSBO personalities and the types of home sellers. Whichever type of seller you are, you can sell your own home online using a flat fee MLS service. Many flat fee service providers give you access to the multiple listing service but don’t teach you how to use it. At IHS Realty, we don’t just throw you to the wolves. We have resources you can use to learn how to price your home, market your home, show your home and there is a resource for every step in the process - for the buyer and for the seller.
See Also
- Real Estate Services
View the resources IHS Realty offers you throughout the buying and selling process.
