Showing posts with label sellers. Show all posts
Showing posts with label sellers. Show all posts

Tuesday, February 20, 2018

When Should You Accept A Low Bid?

If you are selling your home and are motivated to get the deal done quickly, you may be tempted to accept a low bid. Whether you need to sell because you are being relocated or need to downsize to save your financial investment, there are several things you should consider before accepting a bid that is below your asking price. Here are a few tips on making that decision a bit easier.

How Motivated Are You?

The decision to accept a low bid should always be influenced by your actual financial position rather than simply wanting a quick sale. If you are in a situation in which you may lose your home due to foreclosure, accepting a low bid may be your only option. If, on the other hand, you are simply tempted to take a low bid because it is more than you originally paid for the home, you may want to reconsider. For most people, the motivation will lie somewhere in the middle, and balancing your motivation to sell and the potential financial loss of accepting a low bid should be carefully evaluated.

Avoid Becoming A Motivated Seller

The best way to sidestep having to take a low bid is by avoiding the position of being a truly motivated seller in the first place. If you are having trouble paying your mortgage, be sure you have exhausted any refinancing options that may exist. Another common reason people feel obligated to accept a low bid is that they have already purchased a new home and do not want to be in the position of paying two mortgages at once. So before purchasing a new home, first sell your existing home.

No matter your reason for considering accepting a low bid for your home, be sure you get the advice of both a REALTOR® and a financial advisor to ensure you are making the right decision. 

Have more tips? As always, I look forward to hearing your thoughts!


Be well,
Rhonda


PS. Thinking of buying a home or selling yours? I'd love to sit down and talk with you about the process and the market. You can reach me anytime at 401-326-2928. 

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Saturday, January 20, 2018

What Season Is Best To Sell?


So you are ready to sell your house, but you look out the window and see several feet of snow on the ground. Should you bother putting your house on the market in the winter, or should you wait until spring? Is there a better season in which to sell your home? The answers to these questions depend on a few basic factors.

Where You Live

In a place where the climate is very cold in the winter, it can be wise to wait until spring to sell, because fewer buyers will be venturing out to look at homes. In an area where the sun shines year round, weather is not a concern, and people will have no trouble coming out to see your house. This doesn’t mean, however, that season doesn’t matter in a warm climate! It can still affect how many potential buyers will come out and the odds of selling.

Watch Out For The Holiday Slump

People are usually too busy from Thanksgiving through Christmas to spend much time house hunting, and in January they are often recovering financially from holiday over-spending. Most experts will recommend that you avoid listing your home until after the worst of the holiday slump in the market is over and people are looking to buy again. This is true no matter what the climate!

Particulars Of Your Home

If your home is near a high school, you might want to consider selling in the summer when things nearby are a bit quieter. The noise and traffic of the school year might put some buyers off. If your home is near a lot of fun winter activities, this might actually be a selling point that will be highlighted better in the winter months. Looking for these details of your area and capitalizing on them will help you to get your home sold.

The season does matter when it comes to home buying, and spring is usually a good time to list. Your REALTOR® can help you to determine what season makes the most sense for listing in your particular case, providing you with market information in your area and helping you pinpoint the particulars of your home that make it appealing in a specific season. 

Have more tips? As always, I look forward to hearing your thoughts!


Be well,
Rhonda


PS. Thinking of buying a home or selling yours? I'd love to sit down and talk with you about the process and the market. You can reach me anytime at 401-326-2928. 

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Wednesday, February 8, 2017

Top Ten Home Showing Tips

For sellers, making your home available for showings is essential to getting it sold. After all, who would purchase a property sight unseen? When a potential buyer stops in, here are ten recommended tips to follow when showing your home:

Tip # 1: Welcome Your Buyers It is a good idea if you leave the home for a short time to allow the buyer to look without feeling restricted by your presence. A potential buyer is less likely to voice any concerns in front of the current owner, which is why it’s better to leave your buyers with the REALTOR®. Typically 30-45 minutes allow plenty of time for your potential buyer to do a thorough tour with feeling rushed. Baking some cookies or bread before you head out will leave your home smelling delicious and inviting.

Tip # 2: Be Flexible Many home buyers are on a tight schedule, whether it be work, school or other commitments. Time is tough to come by, so try to be flexible about allowing potential buyers to tour your home. If you are still living on the premises, it’s especially important that you be ready for last-minute visits.

Tip # 3: Climate Control When a buyer comes into your home, they do not want to feel cold in the winter or overly stuffy in the summer. If you know that your REALTOR® is bringing a potential buyer to tour the home, make sure that the temperature is comfortable. Otherwise, your buyer may not spend as much time in the home as necessary in order to form an accurate opinion. The last thing you want is a buyer who’s in a hurry to leave.

Tip # 4: Quick Cleaning If you have enough time before the buyer shows up, run the vacuum over the floors and make sure that any clutter is cleaned up. A clean home appears larger, while a cluttered one gives the appearance of being too small. If you really want to impress your potential buyers, place that plate of freshly baked cookies on the dining room table.

Tip # 5: Animal Control If you have pets, remove them from the home temporarily or place them in a contained space, such as a kennel, exercise pen or carrier. This will allow buyers to tour the home without being distracted by a nervous animal which could result in a nervous buyer.

Tip # 6: Light The Way Your home should appear open and bright, even if it’s a winter day, so open the curtains and turn on the lights throughout the home. Buyers will not likely be drawn to a dark, dimly-lit house.

Tip # 7: Educate Your Buyers When someone is looking for a home, they are looking for more than the perfect floor plan. If you have recently had the home appraised or inspected, place copies of each report on the dining room table. Purchasing a home is a big step, and buyers will be drawn to a home that has everything out on the table, so to speak.

Tip # 8: Communicate With Your REALTOR® If you want certain aspects to be pointed out during the home tour, tell your REALTOR® what they are. For instance, good neighbors are a big plus to any home, but it’s not something that potential home buyers will see simply by looking at the rooms in your house. If you have wonderful neighbors, ask your REALTOR® to point this out. If you live in a family-oriented neighborhood, let it be known.

Tip # 9: Curb Appeal An important part of showing your home is making sure that the outside looks just as appealing as the inside. When a potential buyer drives up, you want them to be eager to see what else is in store for them. You can do this by paying close attention to your curb appeal. In addition to having a freshly cut lawn and properly maintained flower beds (if applicable), the outside of your home should be free of any clutter and any shrubs should be groomed.

Tip # 10: Be Open To Feedback Once the potential buyer has completed their tour, your REALTOR® will ask them (or their agent for some feedback to share back with you. Though it may be difficult to hear feedback that isn't completely positive, it will help with further showings and keep you on top of buyers' concerns as they compare your home to others. the feedback may pertain to pricing, features, and/or condition.

Your REALTOR® can also offer suggestions on how to put your home in top showing form and find your buyer as quickly as possible!

Have more tips? As always, I look forward to your thoughts!

Be well,
Rhonda

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Thursday, October 13, 2011

Functional Obsolesence - what is it and can I do anything about it?

Functional Obsolescence is defined as "loss of value from all causes within the property except those due to physical deterioration".  Huh?!

In understandable terms, Functional Obsolescence is a defect in a property that affects the property's utility. For example, there is only bathroom is located on the second floor of the house. Or perhaps the house has no formal dining room or if it does have one, it's far removed from the kitchen.

Functional Obsolescence can be either curable or incurable.  It is considered curable if the amount of money invested to remedy the issue increases the market value of the property by at least that much. On the other side, it is considered incurable if the cost to remedy the issue is greater than the added value the remedy will bring. 

So, what does this mean for buyers and sellers?

If you are a buyer, be aware of shortfalls in the dwelling's utility and factor in the associated costs to fix those shortfalls when making your offer. Your real estate agent or broker can connect you with the right contractors in the area in order to get an idea as to what it might cost you to address the issues, and can then help determine if your return on investment will be worth it. 

If you are a seller, you need to be aware first, of the objections that may arise from potential buyers.  Also, keep in mind, that you may need to lower your expectations on market price to take into account the costs that potential buyers will face in order to address the issues and alter the property to better suit their needs.

Look forward to hearing your additional thoughts.

Be well,
Rhonda

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