How to Evaluate an Offer on Your Home

How to Evaluate an Offer on Your Home

Hey, guys. We are in a competitive market and sellers are getting multiple offers on their home. So, how do you know which one to pick?

A lot of sellers choose the highest offer without any research. What if that buyer doesn’t have the funds or financing to make such an offer?

Find out if your buyer is pre-approved. Remember, pre-approval is different than pre-qualification. When a buyer is pre-approved, they are have worked with a lender. Income has been verified, credit has been checked and all the proper documents have been filed.

Once you know they are pre-approved, find out what type of loan they have. How are they making their down payment? Sometimes there are contingencies where a buyer needs to sell their home first before they can buy yours.

When is the closing date? A typical closing lasts 30-45 days. Is there a reason they need a shorter or longer period?

What about a cash offer? Much like checking for pre-approval, check to see if the buyer has the funds. You can do this by simply looking at a bank statement.

Thanks for watching guys! If you have any questions, please give me a call!

August Real Estate Market at a High

 
August Real Estate Market at a High

Thanks for visiting my video blog! Can you believe summer is already coming to an end? School is back in session and that cold weather is just around the corner. Our housing market, though, is still hot.

While historically August is one of our slower months of viewing and showing traffic, the buyers that are looking are serious and of quality.

In fact, did you know the period from Labor Day to Thanksgiving is the second best time for our Idaho market? Buyers are looking to purchase and move before the holiday season starts.

So if you are thinking about selling, let us help you get your home on the market now! Give us a call 208.818.7703

Thanks for watching!

Selling Your Home in a Rising Market

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In a rising market there are two critical issues when selling your home:
         1.    Pricing the Property
         2.    Saving money in escrow

When trying to sell your home, it’s important to price properly. To find a reasonable but satisfactory price, we look at pending sales; the market is rising and pending sales give more accurate reflections of the market. We then call the agents of these pending sales and find out more: if there were multiple offers, was there a bidding war, if the price went above, etc. From there we can gage an accurate price for your home.

The second issue is saving money during escrow. A buyer has a 10-12 day contingency period where they can have inspections done and ask for things from the seller. Keep track of the dates to know when that period ends. Also, we suggest having a pre-home inspection. It will cost around $350, but it is a good investment to protect yourself from losing money to the buyer later on.

If you have any other real estate questions, please call me at 208.818.7703. I’d also like to thank you for all your referrals. Thanks to you this will be a record year!