Chante Gloster's Blog
A home seller may dread the thought of dealing with an aggressive property buyer, i.e. an individual who submits many requests for property improvements or price reductions prior to the closing of a home sale. Fortunately, we're here to help you take the guesswork out of dealing with an aggressive homebuyer.
Now, let's take a look at three tips to help a home seller get the best-possible results when he or she deals with an aggressive property buyer.
1. Keep Your Cool
Let's face it – an aggressive homebuyer may test your patience. But if you remain calm, cool and collected when you deal with an aggressive homebuyer, you may be better equipped than ever before to accomplish your desired home selling results.
Remember, the ultimate goal of the house selling journey is to maximize your property sale earnings. If you remain open to communication with a buyer, both you and this individual can work together to find common ground. And as a result, you and a buyer can collaborate to achieve the optimal results.
2. Know Your Options
If a buyer makes exorbitant requests during the home selling journey, it is important to keep in mind that you have options. And if problems start to escalate, you may be able to walk away from a property selling agreement.
For example, if an aggressive buyer conducts a home inspection and asks for a massive price reduction following the evaluation, you can still negotiate with this buyer. And if you and the buyer cannot come to terms, there is no need to stress. At this point, you can move on from a potential home sale and re-list your residence.
3. Hire a Real Estate Agent
Dealing with an aggressive homebuyer can be worrisome. For sellers who want to avoid the potential dangers associated with dealing with an aggressive buyer, it may be beneficial to hire a real estate agent.
In addition to guiding you along the property selling journey, a real estate agent is happy to help you negotiate with a buyer and his or her agent. That way, you can boost the likelihood of enjoying a quick, profitable house selling experience.
Typically, a real estate agent will serve as a liaison between you and a buyer. And if a buyer requests property upgrades or a price reduction prior to closing day, a real estate agent can offer recommendations about how to proceed with these requests.
A real estate agent also is available to respond to any of your home selling concerns or questions. This housing market professional understands the property selling experience can cause a seller to worry, especially if this individual is forced to deal with an aggressive buyer. But with a real estate agent's assistance, a seller can take the necessary steps to minimize potential property selling hurdles.
Simplify a negotiation with an aggressive homebuyer – use the aforementioned tips, and any home seller can seamlessly navigate a negotiation with any buyer, at any time.
If a seller approves your offer to purchase his or her house, conducting a home inspection likely will be the next step of the property buying cycle. Although you may have the option to forgo a house inspection, you should not avoid this evaluation. Because if you forgo a home inspection, you may wind up purchasing a house that fails to meet your expectations.
Ultimately, there are many reasons to perform a house inspection before you finalize a home purchase, and these reasons include:
1. You can gain deep insights into a house's condition.
A home showing enables you to get an up-close look at a residence so you can determine if a residence is right for you. Meanwhile, an inspection goes one step beyond a showing, as it allows you to work with a property expert to analyze all aspects of a house.
During a home inspection, a property expert will walk through a house and analyze the residence's underlying condition. Then, this property expert will provide an inspection report that details his or her findings.
It is important to assess an inspection report closely. That way, you can learn about a home's condition and decide whether to continue with a house purchase.
2. You can review potential property repairs.
If you want to identify potential house repairs, a home inspection is key. If you conduct a home inspection, you can find out about possible property repairs, review the costs associated with them and plan accordingly.
Of course, if the costs of home repairs are significant, you may want to request a price reduction from a house seller. On the other hand, if various home repairs are simple to complete on your own, you may want to proceed with a home purchase.
3. You can make the best-possible homebuying decision.
Let's face it – buying a home may be one of the biggest decisions you will make in your lifetime. If you make a poor decision, you may suffer the consequences of your choice for an extended period of time.
Thanks to a home inspection, you can gain the insights you need to make a data-driven home purchase. Best of all, you can use a home inspection to perform a full analysis of a house and feel good about your decision to buy a residence.
As you get ready to pursue a house, you should hire a real estate agent as well. This housing market professional can help you prepare for a house inspection and complete other homebuying tasks.
For example, a real estate agent will attend a home inspection with you. And after a home inspection is finished, you and your real estate agent can review the inspection results together. Finally, your real estate agent can offer an honest, unbiased recommendation about how to proceed following a house inspection.
Ready to find and acquire your dream home? Conduct an inspection as part of the homebuying process, and you can learn about a house and determine whether a residence matches your expectations.
Purchasing a deluxe home at an affordable price may seem impossible, particularly for property buyers who are searching for a residence in a seller's market.
Lucky for you, we're here to help take the guesswork out of buying a terrific residence at a budget-friendly price, regardless of the current housing market conditions.
Now, let's take a look at three factors that homebuyers need to consider before they enter a seller's market.
1. Your Timeline
What is your homebuying timeline? Ultimately, you'll want to consider how quickly you need to relocate to a new residence. This will enable you to map out a homebuying journey that boosts your chances of getting the best results possible.
For example, if you have several months to plan ahead, you may be able to wait out a seller's market. You can pursue a wide range of residences over an extended period of time. And if you find a residence that you like, you can submit an offer on it.
On the other hand, if you need to move right away, you'll likely need to speed up the homebuying journey. In this scenario, you'll want to make the most of the time and resources at your disposal. If you can optimize the time and resources that are available, you may be better equipped than other homebuyers to discover a great home in a seller's market.
2. Your Budget
How much can you afford to spend on a home? A seller's market favors property sellers, so you'll want to do everything possible to budget appropriately and avoid the temptation to overspend to acquire a residence.
Getting pre-approved for a mortgage usually is an excellent idea. If you meet with banks and credit unions, you can learn about your mortgage options and choose a mortgage that matches your finances perfectly.
With a mortgage in hand, you can enter the housing market with realistic property buying expectations. You also may be able to narrow your home search, and as such, speed up the process of purchasing your ideal house.
3. Your Homebuying Expertise
What do you know about the housing market? In most cases, homebuyers lack real estate expertise. However, working with a real estate agent ensures you can receive comprehensive support as you navigate a seller's market.
A real estate agent is a friendly, knowledgeable housing market professional, one who will go above and beyond the call of duty to assist you during the homebuying journey.
Typically, a real estate agent will set up home showings, keep you informed about new properties as they become available and negotiate with home sellers on your behalf. He or she will even provide honest, unbiased recommendations, guaranteeing you can get the expert insights you need to make informed homebuying decisions.
When it comes to exploring houses in a seller's market, why should you be forced to leave anything to chance? Consider the aforementioned factors closely, and you can improve your chances of acquiring a stellar home without having to break your budget.
If you want to accomplish your desired results during the home selling journey, you should strive to host lots of showings. Fortunately, we're here to help you prepare for home showings and ensure you are ready to host showings at any time.
Now, let's take a look at three tips to help you prepare for a home showing.
1. Keep Your Home Neat and Tidy
Let's face it – maintaining a pristine home can be difficult. But if you allocate time and energy to perform various home maintenance tasks daily, you can keep your home show-ready.
Cleaning up after yourself can make a world of difference. For instance, wiping down kitchen countertops after cooking a meal enables you to avoid a long, arduous kitchen clean-up at a later time.
You also may want to create a home cleaning schedule. By planning daily or weekly chores like vacuuming the rugs or cleaning the bathroom, you can ensure your house will look great at all times.
2. Be Flexible
If a homebuyer submits a last-minute request for a home showing, it generally is a good idea to try to accommodate the buyer's request. By doing so, you can show your home to many prospective buyers and increase the likelihood of receiving an offer to purchase.
A flexible home seller usually is a successful home seller. Therefore, if a buyer wants to view your home, it is important to remember that each showing brings you one step closer to selling your residence.
Ultimately, if you maintain flexibility, you can make it easy for dozens of potential buyers to view your residence. And as a result, you may be able to accelerate the home selling process.
3. Eliminate Clutter
Clutter is something that all home sellers can live without. Because if a home is filled with clutter, it may be tough for prospective buyers to appreciate the full size and beauty of a residence.
For home sellers, it is important to remove clutter immediately. A home seller can rent a storage unit to hold excess items until his or her residence sells. Or, it may be beneficial to host a yard sale or list excess items online to cut down on clutter.
As you prepare to sell your home, you may want to hire a real estate agent as well. In fact, a real estate agent will do everything possible to help you achieve the optimal results during any home showing.
Typically, a real estate agent will offer recommendations and tips to help you prepare your residence for the housing market. If you receive a request to view your home, a real estate agent will notify you accordingly. And after a home showing is complete, a real estate agent will provide you with unbiased feedback to ensure you can update your property selling strategy as needed.
Ready to host a home showing? Use the aforementioned tips, and you can get ready to showcase your residence to potential buyers and bolster your chances of enjoying a fast, profitable house selling experience.
Buying a home as a single individual comes with its own set of unique experiences and challenges. Some are to be expected, like financing with a single income. While others not so much, like a more competitive market.
You know that financing will be based on your sole income. However, the vast majority of homeowners are couples who have dual incomes. Your eligibility is going to be very different than that of a couple and for some home buyers when they receive a lower number this comes as a shock. Expect to see numbers that are on the lower side of those who apply as couples.
Since you are on a sole income you may want to look into various loan types such as those that offer low-interest rates and lower down payments. Two to look at are first-time buyers programs and FHA loans.
When comparing options watch the lenders fee in comparison to the interest rate. Where you may have low-interest rate it might come with a higher lender fee. Do the math on these ratios to get a true value of each.
Before applying for mortgage approval, clean up your budget and handle any existing debts, especially expensive ones. Pay off card balances, refinance student loans, and swap out expensive monthly car payments for one that is more reasonable.
Draw up a budget and get really clear on just how much house you can afford month to month. Include the cost of house ownership and maintenance in your budget in addition to the cost of future monthly mortgage payments.
As a sole earner having savings is incredibly important as you don’t have a second income to rely on. In addition to setting aside your down payment (as close to the recommended 20% as you can), build up a nest egg of three to six months worth income should anything misfortune arise.
Start the buying process well prepared with the right mindset. Smaller houses make up a lower percentage of the housing market and cheaper homes are competitive when it comes to the buying process. Be ready for a search that might go a little longer and a buying process that needs you to move a little faster than traditional ones.
Bring a trusted friend or family member with you to home viewings to have a sounding board for your decision process. It’s easier to get swept away emotionally when you don’t have a partner to hash out the gritty details with. Find someone who can come to each viewing with you so that you can compare the different homes pro’s and con’s together.
Buying a home as an individual is a unique process but it doesn’t have to be a difficult or lonely one. Ask for feedback from your realtor, bring a trusted friend and know what to expect from the buying process as a sole income earner.