Purchasing a house can be tricky, particularly for those who are dealing with a high-pressure negotiation. Luckily, we're here to help you get the best results from any homebuying negotiation, at any time.
Now, let's take a three must-haves for those who are getting ready to negotiate a home purchase.
1. Housing Market Data
An informed homebuyer is a smart shopper. As such, this individual will obtain a large assortment of housing market data that he or she can use to make the best buying decision.
For homebuyers, it is important to understand how one house stacks up against comparable residences in any real estate market. That way, a homebuyer can submit a competitive offer that is based on pertinent housing market data.
Examine the prices of recently sold houses similar to the one that you'd like to buy. Also, check out the prices of comparable houses that are currently available. And with this housing market data at your disposal, you can boost your chances of getting the optimal price for your dream residence.
Let's face it – a homebuying negotiation is stressful, regardless of whether you're a first-time homebuyer or have purchased many residences over the years. But if you remain confident throughout a negotiation, you can take a calm, cool and collected approach, even when times get tough.
A confident homebuyer will have no trouble standing his or her ground during a negotiation. And if this individual is uncomfortable with a home seller's counter-proposal, he or she will be willing to walk away and restart a home search.
Furthermore, a confident homebuyer will remain open to new ideas and consider the home seller's perspective. This will enable a homebuyer to examine both sides of a negotiation and proceed accordingly.
3. An Experienced Real Estate Agent
When it comes to negotiating a home purchase, there is no need to handle a negotiation on your own. Fortunately, an experienced real estate agent is happy to offer guidance at each stage of a homebuying negotiation.
An experienced real estate agent understands what it takes to purchase a great home at an affordable price. As a result, he or she will go above and beyond the call of duty to negotiate with a home seller on your behalf.
Typically, an experienced real estate agent will act as a liaison between a homebuyer and home seller. This housing market professional will keep you up to date about whether a home seller accepts or rejects your proposal to purchase a home. He or she also will provide recommendations and suggestions to help you transform a stressful negotiation into a successful one.
Perhaps best of all, an experienced real estate agent is ready to respond to your homebuying concerns and questions. He or she will provide you with the support you need to ensure you can make informed decisions throughout a homebuying negotiation.
Get ready for a homebuying negotiation – consider the aforementioned factors, and you can move one step closer to finalizing a home purchase.
Your Florida luxury home likely has served you well over the years. However, there are many signs that may help you determine whether now is good time to add your Sunshine State luxury residence to the real estate market. These include:
1. You are looking to downgrade.
If your luxury home in Miami, St. Augustine or elsewhere in Florida has become too big for you, there is no need to stress. In fact, there are dozens of outstanding houses available across the Sunshine State, ensuring you can sell your current residence and move into a smaller home at your convenience.
As you look to sell your Florida luxury residence and relocate to a smaller house, you may want to put together a property selling plan. This strategy will help you map out your Florida luxury home selling goals and determine where you want to live going forward. As a result, you can use a house selling strategy to streamline the Florida luxury home selling process.
2. You want to live closer to family members and friends.
If you live far away from family members and friends scattered across the Sunshine State, you can always sell your luxury residence and move closer to these loved ones. That way, you can enjoy quick, easy access to family members and friends.
As you prepare to list your Florida luxury home so you can live near loved ones, you may want to consider the current state of the local luxury housing sector too. For example, the luxury homes in Miami may have higher initial asking prices in comparison to similar residences in Jacksonville. And if you fail to account for the current state of the local luxury housing market, you risk pricing your Sunshine State luxury home too high or too low.
3. Your current luxury house no longer suits your lifestyle.
If you find your luxury home in Orlando, Tampa Bay or any other Florida city or town no longer suits your lifestyle, now may be the perfect time for a change. Lucky for you, the Sunshine State luxury real estate market offers many opportunities for sellers. And if you list your Florida luxury residence and promote it to the right groups of potential buyers, you could reap the benefits of a quick, profitable home selling experience.
Of course, if you decide to list your Florida luxury home, you may want to hire a real estate agent. Because if you have a real estate agent at your side, you can get the help you need to navigate the Sunshine State luxury house selling journey.
A real estate agent will promote your Florida luxury residence to potential buyers in your area, regardless of whether you live in Fort Lauderdale, Gainesville or anywhere else in the Sunshine State. Plus, a real estate agent will ensure you can get the best price for your Florida luxury home.
Employ a real estate agent today, and you can receive comprehensive support as you navigate the Florida luxury house selling journey.
Have you heard a lot about HUD homes, but aren’t sure if you should buy one or what the process entails? HUD stands for The Department Of Housing And Urban Development. The FHA (Federal Housing Administration) is a part of HUD. The FHA is where federal mortgage insurance comes from. If a home is foreclosed on and insured by the FHA, the lender has a right to file a claim for the balance due on the mortgage. The FHA will pay this claim, and then transfer the ownership of the property to the HUD who will sell the home.
Will A HUD Home Provide A Price Break?
The answer to this question is not necessarily. A HUD home is appraised just like any other home for sale. The price is based on the fair market value of the home. The prices may be adjusted according to any repairs that need to be made to the home. It’s a good idea to have your realtor look into comparable prices for HUD homes, as these properties aren’t guaranteed to be a deal.
Know that HUD homes are sold as-is. There isn’t much negotiating like that of a typical home purchase. As the new owner, you’ll be responsible for all of the repairs. It’s a good idea to invest in a home inspection before you buy a HUD home for this reason. You’ll have a better understanding of what you’re getting into with this type of home purchase.
How Do You Begin The Search For A HUD Home?
Housing and Urban Development homes are listed by state on the department’s website. This is a good place to start your search. The site also lists brokers who are approved by the HUD. You can then contact local brokers to show you the HUD properties that you’re interested in.
The Process Of Making An Offer
Buying a HUD property can be very different than buying any other type of home in that the offer process is a bit different. These properties are sold through bids. You must hire a licensed real estate agent to assist you in this process, you can’t just put a bid in on your own. You’ll need to be sure that your offer is placed during the designated offer period. Either the highest bid is accepted or the bid that came in first in order will be taken. Generally, the HUD wants to take the offer that will get them the most profit.
Careful With Financing
The HUD does not finance homes. You’ll need to apply for a mortgage just as you would in buying any other home. Before you can even make an offer on a home you must have approved financing. If for some reason you get through the process of having your offer accepted on the home and the financing falls through, there’s a chance that you could lose your earnest money deposit.
Launching a search for your next home can be a daunting prospect -- especially if you're a first-time home buyer. It's not only a life-changing decision that will have "ripple effects" for years to come, but it's also one of the largest financial commitments you'll every make. So there is a little "pressure" associated with this choice!
The good news is that once you're approved for a mortgage and you know what you want (and can afford) in your next home, then the actual searching part should be a "piece of cake!" Well, as you can imagine, things can and sometimes DO go wrong along the way, but there are effective strategies for simplifying the process and increasing the probability that you'll be delighted with the house you finally close on.
Identify Your Priorities
Knowing what your priorities are and being familiar with all the different features you'll need to evaluate are the first steps to a successful house-hunting campaign. Your real estate agent can be enormously helpful in asking you the right questions, pinpointing your preferences, and guiding you toward the house that will offer the best combination of features, qualities, and characteristics.
Rarely will you find the property that is absolutely perfect in every imaginable way, but when you're clear about the important things you're not willing to compromise on, your final choice is bound to be one that fulfills your requirements and makes you happy! Also keep in mind that once you're the owner, you can customize, decorate, and landscape that home to become whatever you want it to be. Perhaps the only two things that are set in stone are the location and the proximity of the house to neighbors.
I don't know whether this saying has been attributed to any particular person, but it contains a lot of truth about achieving goals, attaining happiness, and finding the home of your dreams: "If you don't know exactly what you want, it's highly unlikely you're going to find it!" That holds true whether you're looking for the ideal job, home, or life partner.
So the question is "How can you zero in on what you need, want, and would find the most satisfying in a house?" Your real estate agent can help you create a priority list or provide you with a boilerplate list that you can work from. If you haven't chosen an agent yet, there is a free home-buying checklist available from U.S. Department of Housing and Urban Development.
There are literally dozens of items you'll factor into your home-buying decision, including the square footage, the quality of the neighborhood, the number of bathrooms and bedrooms, the condition of the roof, electrical, and mechanical systems, the size of the backyard, proximity to neighbors, and whether it's conveniently located near supermarkets, medical offices, parks, recreation, good schools, transportation, highways, entertainment, shopping, and much more. The bottom line is this: When you're organized, focused, and clear about what you're looking for in a new home, you're well positioned for a successful outcome!