Kristen Meleedy, CBR's Blog
If you receive an offer to purchase from a property buyer and decide to submit a counter-offer, it is important to err on the side of caution. Because if your counter-proposal fails to meet a buyer's expectations, you risk missing out on the opportunity to sell your house and maximize your home sale earnings.
When it comes to reviewing an offer to purchase and submitting a counter-proposal, it helps to prepare as much as possible. Fortunately, we're here to help you perform a full analysis of a homebuying proposal and ensure that you can submit a counter-offer that matches the expectations of both you and a buyer.
Now, let's take a look at three tips to help you put together a "fair" counter-proposal to a buyer's offer to purchase your home.
1. Use Housing Market Data to Your Advantage
Take a look at local housing market data – you'll be glad you did. If you take a data-driven approach to craft a counter-offer, you may be better equipped than ever before to put together a counter-proposal that meets the needs of all parties involved in a property sale.
Analyze the prices of recently sold houses in your city or town that are similar to your own. Furthermore, find out how long these residences were available before they sold. With this housing market data in hand, you should have no trouble crafting a fair counter-proposal.
2. Consider the Buyer's Perspective
As you examine a buyer's initial offer to purchase, think about why this individual chose to submit the proposal. Try not to get emotional if you feel the offer is too low; instead, think about how you can work with a buyer to find common ground.
Oftentimes, it helps to maintain open communication with a buyer. If you put together an counter-proposal that accounts for the buyer's perspective and keep in touch with this individual, you and a buyer may be able to work together to come to a fair agreement.
3. Consult with a Real Estate Agent
If you are unsure about what to propose as part of a counter-offer, there is no need to stress. In fact, if you collaborate with a real estate agent, you can get the assistance you need to craft a counter-proposal that may lead to an instant "Yes" from a buyer.
Usually, a real estate agent will inform you about an offer to purchase your home and provide recommendations and suggestions as you craft a counter-proposal. He or she also will negotiate with a buyer's agent on your behalf. And if you ever have concerns or questions during the property selling journey, a real estate agent is happy to address them.
Allocate time and resources as you craft a counter-offer. If you consider the current state of the real estate market and the buyer's perspective, you could increase your chances of putting together a counter-proposal to close a deal on your home. Perhaps best of all, you can submit a counter-offer that allows both you and a buyer to achieve your respective goals faster than ever before.
Believe it or not, upgrading your residence's curb appeal won't necessarily force you to break your budget. Now, let's take a look at three cost-effective ways to improve your house's curb appeal.
1. Mow the Lawn
Tall grass and weeds are unlikely to do you any favors, particularly if you want to reap the benefits of a fast, profitable home sale. Fortunately, if you spend some time mowing the lawn and trimming the hedges, you may be able to boost your house's curb appeal.
It generally won't take long to perform lawn maintenance tasks. Then, once you complete these tasks for the first time, you can set up a schedule to complete them every week or every other week until your residence sells. That way, your lawn will continue to look great in the eyes of potential buyers.
2. Clear the Walkways
Dirt, dust and debris may make your home's exterior walkways look messy. Perhaps worst of all, these problems may drive prospective buyers away from your house.
On the other hand, neat, tidy walkways could help your residence stand out to potential buyers. If you devote time and resources to sweep and clean your house's exterior walkways, you can increase the likelihood that your residence will make a positive first impression on buyers.
3. Remove Decorations
Although plastic flamingoes, lawn gnomes and other home exterior decorations have helped you distinguish your house from others in your neighborhood, now may be a good time to put these decorations into storage. Because if you keep decorations on your lawn, it may be difficult for a buyer to envision what life may be like as the owner of your house.
Remember, your goal as a home seller is to make your residence as appealing as possible to prospective buyers. By removing home exterior decorations, you can show off your residence's full potential. As such, you can make it easy for buyers to fall in love with your residence as soon as they see it for the first time.
As you search for ways to upgrade your house's curb appeal without breaking your budget, you may want to consult with a real estate agent too. This housing market professional is happy to provide home selling recommendations and can help you transform your home's exterior from drab to fab.
Typically, a real estate agent will provide expert guidance at each stage of the house selling journey. He or she first will help you craft a home selling strategy and promote your residence to dozens of prospective buyers. Plus, once you receive an offer to purchase your home, a real estate agent can help you analyze this proposal. And if you accept an offer to purchase your house, a real estate agent will do whatever it takes to help you quickly finalize your home sale.
Ready to list your residence? Upgrade your house's curb appeal today, and you can move one step closer to achieving the best-possible results during the property selling journey.
For those who want to enjoy a fast, profitable and seamless home selling experience, there is no need to worry. In fact, there are many things that you can do to minimize the risk of a home selling fiasco, and these include:
1. Conduct a Home Inspection
A house inspection usually is completed after a seller accepts a buyer's offer to purchase a residence. At this time, a buyer typically requests an inspection to identify any underlying house issues. If a buyer is satisfied with the inspection results, he or she likely will proceed with a home purchase. Or, if a buyer encounters myriad home problems, this buyer may reconsider his or her offer to purchase a residence.
By conducting a home inspection before you list your house, you can immediately identify any underlying home problems. You then can work to correct various house problems and avoid the risk that such issues could potentially slow down or stop a home sale in the near future.
2. Perform Home Upgrades
When it comes to selling a house, it generally is a good idea to be proactive. And if you allocate time and resources to upgrade your house now, you may be better equipped than ever before to stir up lots of interest in your residence as soon as it becomes available.
To enhance your house's exterior, you should mow the front lawn, fix any cracked or damaged home siding and perform assorted home exterior repairs. By doing so, you can improve your house's curb appeal.
Furthermore, don't forget to devote attention to your house's interior. If you can clean every room of your home and eliminate clutter, you could boost the likelihood of a successful home selling experience.
3. Collaborate with a Real Estate Agent
Getting the best results – and avoiding potentially time-intensive and costly problems – is paramount for any home seller. If you collaborate with a real estate agent, you can get the help you need to quickly sell your house and maximize your earnings.
A real estate agent is happy to help you kick off a successful home selling journey. First, a real estate agent will meet with you and learn about your house and home selling goals. He or she next will help you craft a home selling strategy based on your residence and the current real estate market's conditions. Then, a real estate agent will promote your residence to buyers and host open house events and home showings. And once you receive an offer to purchase your residence, a real estate agent will help you review this proposal and make an informed decision.
Let's not forget about a real estate agent's industry expertise, either. If you ever have questions during the home selling journey, a real estate agent will instantly address these queries.
Reduce the risk of encountering problems when you sell your house – consult with a real estate agent today, and you'll be able to receive comprehensive assistance at each stage of the home selling journey.
Selling a house should be quick and easy. Yet issues may arise that make it tough to enjoy a fast, profitable house selling experience.
Common problems that come up during the home selling journey include:
1. Lack of Curb Appeal
Dedicate time and resources to bolster your residence's curb appeal – you'll be glad you did. Remember, your residence only gets one chance to make a positive first impression on homebuyers. If your house impresses buyers when they see it for the first time, buyers may continue to pursue your home and submit requests to view your residence in-person.
To improve your house's curb appeal, you should mow the lawn, trim the hedges and perform various home exterior upgrades. Take an objective view of your home's exterior to identify any problems that may make buyers shy away from your residence. Then, you can correct these issues.
2. Initial Asking Price Is Too High
If your home's initial asking price fails to account for your house's condition and the current state of the real estate market, you may struggle to sell your residence. In fact, in this scenario, it may be many weeks or months before you receive an offer to purchase your residence.
Before you list your house, you may want to conduct a property appraisal. This enables you to receive a home valuation from a property expert. With this valuation in hand, you can set a competitive initial asking price for your house, thereby increasing the likelihood of a quick home sale.
3. Buyer's Market in Place
In a buyer's market, there may be an abundance of available houses and a shortage of property buyers. Thus, if a home seller is not careful, this individual may struggle to achieve the best-possible results.
Analyze the real estate market closely, and you can differentiate a buyer's market from a seller's one. If you find that homes linger on the real estate market for many weeks or months before they sell, you likely are preparing to enter a buyer's market. As a result, you'll need to go above and beyond the call of duty to differentiate your house from the competition.
When it comes to selling a house in a buyer's market, it may be beneficial to hire a real estate agent. This housing market professional can help you craft a plan that ensures you can seamlessly navigate the home selling journey, regardless of the current real estate market's conditions.
A real estate agent first will meet with you and learn about your home selling goals. He or she next will develop a personalized home selling strategy and promote your residence to prospective buyers. And if you receive an offer to purchase your house, a real estate agent will help you review this proposal and determine the best course of action.
Take the guesswork out of the home selling journey – collaborate with a real estate agent, and you can get plenty of help as you get ready to sell your residence.
As a home seller, you need to do everything possible to learn about the competition. By doing so, you can find out what sets your house apart from other available residences and promote your home accordingly.
Ultimately, gaining a competitive advantage over rival home sellers can be simple – here are three tips to help you do just that.
1. Become a Real Estate Market Expert
Allocate the necessary time and resources to analyze the real estate market closely – you'll be happy you did. With housing market insights at your disposal, you can map out a successful home selling journey.
Take a look at the prices of homes that are currently available in your city or town. Focus on houses that are similar to your own, and you can establish a price range for your residence.
Also, examine the prices of recently sold houses in your area. This will allow you to see how long it took for these residences to sell. Plus, you can find out whether you're about to enter a buyer's or seller's market.
2. Learn About Your Home's Condition
Conduct a home appraisal, and you can gain unparalleled insights into your house's condition.
A home appraisal usually takes just a few hours to complete. During this appraisal, a property inspector will examine your residence and identify any home problems. Then, the inspector will offer a report that outlines his or her findings.
Following a home appraisal, you can determine the true condition of your house. That way, you can prioritize various home improvements and ensure that your home's condition serves as a key differentiator after you list your residence.
3. Work with a Real Estate Agent
If you're unsure about how to approach a competitive real estate market, there is no need to worry. Many real estate agents are available to assist home sellers and provide these sellers with extensive support throughout the home selling journey.
A real estate agent can offer tips to help a home seller bolster a house's interior and exterior. This housing market professional understands what it takes to promote a residence to the right groups of homebuyers too. Thus, he or she will do everything possible to guarantee your residence stands out from the competition.
Perhaps best of all, no question is too big or too small for a real estate agent. If you want to know the prices of recently sold houses in your neighborhood, a real estate agent can provide you with the pricing data that you need. Or, if you want to enhance your home's interior, a real estate agent is happy to help you discover the best ways to transform your house's interior from drab to dazzling.
Competition is fierce among home sellers. But with the aforementioned tips, a home seller can gain a competitive edge, one that can help this seller accelerate the home selling journey and get the best price for his or her house.