Real Estate Realness: How to Negotiate
How to negotiate as a buyer?
1. Know when to ask for more and when to waive contingencies
2. Take time to do your research but respond quickly
3. Don’t show all your emotions
How to negotiate as a seller?
Set a deadline for all offers, add expiration dates on counter offers, and know when it’s time to accept an offer.
Real Estate Realness: Reducing Market Time
Do you identify with this situation? You’re eager to sell your current house and transition to a new one, longing to embrace the joys of summer in your new home. Let’s get through the process of selling your home and make your transition smoother!
3 Ways to Reduce Your Home’s Time on the Market This Summer:
1. Fix up the home before listing it for sale
2. Invest in professional staging and photography
3. Price the home right for the current market
The best way to sell your home faster is to hire an experienced REALTOR® (Take us for example!). We’d be happy to talk about your goals for selling and how we can take your home from “Just Listed” to “Just Sold.”
Real Estate Realness: Real Estate Vocab of the Day: Contingency
Contingencies often receive negative feedback due to their potential to delay or terminate home sales. However, they actually serve as safeguards for buyers or sellers, aiming to prevent undesirable outcomes.
For example, a buyer with an existing home might ask for a contingency to sell that home before closing on a new one. This protects them from taking on two mortgages if their current home sale falls through. Thus, it’s important to know which contingencies you need and which you can let go of if negotiations become difficult. Work with a real estate agent you trust to advise your best interests in this situation.
Real Estate Realness: Keeping Cool!
It’s hot out there! The last thing you want is for it to be hot inside, too!
Keep your A/C cool with these maintenance tips:
1. Have your unit professionally serviced each year before the heat comes
2. Vacuum the vents and clean or replace the air filters monthly
3. Keep dirt, weeds, and debris away from the outdoor condenser unit
4. Clean the condenser unit at least once a year to prevent failure
5. Install a programmable thermostat and set it to match your schedule
Real Estate Realness: Pool Maintenance!
Everybody wants a pool when summertime rolls around, but nobody wants to maintain it! If you want to enjoy a cool dip on a hot day or host the best neighbourhood pool party of the summer, then your pool needs some care and maintenance.
Summer Pool Maintenance Tips:
1. Start prepping the pool before the heat comes as temperature shifts encourage bacteria growth
2. Clean the filters (some require weekly cleanings and others last a few months)
3. Use a skimmer or vacuum to clear larger debris from the pool
4. Check the chemical balance weekly and adjust it as needed
5. Hire a professional to do routine maintenance at least once a year
Now that your pool is ready for summer, will you host a neighbourhood party?
Real Estate Realness: What’s an appraisal gap and do you need to be worried?
An appraisal gap is when an appraised value of a home is lower than the agreed purchase price. This can happen when competitive markets drive home prices up. Because a lender will typically only lend on the appraised value, this gap becomes a problem for buyers.
How can you overcome it?
You can:
1. Pay the difference in cash
2. Appeal the appraisal
3. Re-negotiate with the seller
4. Walk away (if you have an appraisal contingency).
Real Estate Realness: When to Buy!
Are you waiting for prices to decrease, but they keep fluctuating unpredictably? Perhaps you’re also hoping for lower mortgage rates, but they keep rising unexpectedly. In the meantime, you could be living in your desired home and building equity, or you could be expanding your investment property portfolio and earning passive income. Instead of waiting for uncertain rewards, why not take action and seize the opportunities that await you?
Don’t wait to buy real estate. Buy real estate and wait.
Are you ready to buy? Call us now! You could be closer to achieving your real estate goals than you think.
Real Estate Realness: Moving Day!
Are you getting ready for a move?
Summer is a popular time for moving. School is out, the days are longer and sunnier, and more homes are on the market. But it’s also the hottest time to be carrying boxes back and forth from the old house to the car and into the new house. Save yourself the backaches and sweat and leave it to the professionals! Summer is the busiest time for professional movers, so be sure to schedule them at least 2 weeks in advance to secure your spot.
Real Estate Realness: Pre-Approval Documents!
Getting pre-approved at the start of your home-buying journey shows sellers how serious you are and can strengthen your offer. A pre-approval letter is a powerful thing, so a lender needs to take an in-depth look at financial documents and run a credit check. You can get started on your pre-approval process today by gathering the necessary documents!
5 Documents You Need to Get to Your Lender for Pre-Approval:
1. Proof of income and employment
2. Information on qualifying assets being considered
3. List of monthly debt payments with balances
4. Credit history (credit reports and scores) and rental history, if applicable
5. Personal identification