Spring is fast approaching. That means many buyers will be looking for their desired home. Sellers, on the other hand, will try to make their property look as alluring as possible. Where to start? With the exterior, of course.
Most sellers will instinctively renovate their home’s interior. However, the buyer’s first visual contact is with the exterior, either directly or through pictures on social media sites.
Most buyers will contact the seller or their real estate broker if they see a picture of a property they like. If the facade and landscaping are unattractive, the buyer may move to the next picture, unless the pictures inside are incredible. If the buyer is physically facing the house, he or she will keep on going and move on to the next property. Continue reading
What do you think is the ultimate goal when negotiating a property purchase? Is it that the buyer does everything in his or her power to get the lowest possible price? Or, is it that the seller gives his or her maximum effort to get the highest possible price? Or, is it none of these answers?
One day, a retired multimillionaire businessman told us what he missed the most about negotiating. His greatest satisfaction was to conclude an agreement where both parties were content. That is exactly what property buyers and sellers should aim for: closing a win-win negotiation.
It is useless for buyers to push sellers against the wall and force them to give up their property for an unsuitable price. This attitude rarely leads to good results. Conscientious buyers not only think about their own interests, but they also think about the sellers’ satisfaction. Continue reading
Sometimes, buyers are faced with a difficult decision. They have already crossed out a large number of properties on their list, but two or three are still remaining. Now for the final elimination round. Which property will it be? Need some advice?
- Ask your real estate broker. If your home search process was rather long, your savvy broker was able to identify your needs and personality because he or she has gotten to know you.
- You would be willing to live with some constraints. Others, not at all! They would make your everyday life miserable. Learn to recognize them. Be honest with yourself.
Nowadays, buyers are lucky. They can search the web to get data on a desired property. They can then count on experts, such as the real estate broker, to obtain more data to bridge their knowledge gap. Having all the data on hand is the lifeblood of negotiation.
Some buyers use intimidation and tenacity to reduce the price of a property. When, in fact, raising your voice, constantly criticizing, and acting up are ineffective methods. All these attitudes lead to confrontation.
The buyer’s most persuasive argument remains his or her knowledge of a property’s data. The more the buyer knows about the property, the more negotiation power he or she will have over the seller, especially if the selling owner is unprepared. Continue reading
You’re planning on buying your very first home in the near future. You have heard of a promise to purchase (formerly known as an offer to purchase) and you are wondering what its purpose is. Here are the main details.
The promise to purchase is the result of a series of exchanges and promises between the future home buyer and the current homeowner. All the details are written down in this document. The promise to purchase is an agreement, which defines the ground rules between the two parties. If conditions are set forth, the deadlines should be clearly stated and the parties undertake to fulfill them.
The promise to purchase is an important document because, as the title states, you commit to buy the property, but under certain conditions set forth on either side. These conditions are laid down in writing in this document.
The promise to purchase is the step that comes right before the deed of sale, which is the famous contract that officially declares you the owner of the coveted house. Just about every detail written down in the promise to purchase will be found in the deed of sale. The content is very similar. Continue reading