Classified Realty Group



Posted by Classified Realty Group on 6/25/2019

The decision to buy a home can bring all sorts of emotions. From stress to joy to fear, you need to be prepared for any situation to arise. From saving up enough money for a down payment to securing financing to hoping for a smooth closing, buying a home is a complex event. Just about the worst thing that can happen in the process is finding the home of your dreams and then having your offer rejected. If you do lose out on the house to another bidder, below, youíll find a few reasons why.


The Home Is Above Your Means


If you go after a home thatís above a price that you can afford, itís likely that your offer will be declined. Look at all of your numbers and find a reasonable price point with your real estate agent. Be sure that your agent wonít show you homes that are far above your budget. Donít risk falling in love with a house that you canít afford. If you start big, you may be disappointed at the type of home you actually can fit in with your budget. 


A Better Offer Came In


In high competition markets or for a home thatís receiving a lot of attention, sellers may get multiple offers. All that attention is why itís always best to keep your offer as close to the asking price as possible. Donít assume that other buyers will bid low. Remember that sellers want to get the most return on their home, which means they are going to take the highest offer in most cases.


You also donít want to get too carried away in asking for contingencies. If you ask too much of a sellerís, they wonít bother giving your offer serious consideration when other buyers have asked them to put less time and money into the home. Donít ask for unnecessary repairs or over the top back costs. 


Youíre Not Approved For A Mortgage


The seller wants you to have a home loan pre-approved so that the process of selling their home will be that much smoother. Some seller may only consider bids by buyers who have been pre-approved for a loan. You should definitely be pre-approved before you even set out on your home search.


To get your offer accepted on a home you love, you need to do your homework. As a buyer, you want to keep the needs of the seller in mind. Although you want the best deal for yourself, you're more likely to get a property that you want if you compromise a bit. 





Categories: offer   lowball offer  


Posted by Classified Realty Group on 6/4/2019

Ready to enter the real estate market for the first time? As a first-time homebuyer, you may encounter many challenges as you kick off your search for the perfect house. However, property buyers who understand these challenges will be better equipped than others to overcome such difficulties quickly and effortlessly.

Now, let's take a look at three common challenges that first-time homebuyers may face:

1. You don't know what to look for in a house.

You know you want to own a house, but how do you define your "dream" residence? Ultimately, you'll want to consider what you'd like to find in your perfect house so you can map out your real estate search accordingly.

Creating a checklist of things you'd like to have in your dream home usually represents a great starting point for first-time homebuyers. This checklist should include both "must-haves" and "wants" and can help you narrow your search for the ideal residence.

2. You aren't sure how much money you have available to purchase a home.

How much can you spend to acquire a residence? Without a budget, you may struggle to begin your real estate search.

Lucky for you, many banks and credit unions make it simple to get pre-approved for a mortgage.

Set up meetings with a few lenders in your city or town Ė you'll be glad you did. These lenders can help you assess your current financial situation, outline all of your mortgage options and ensure you can gain pre-approval for a mortgage.

With a mortgage in hand, you may be better equipped than other homebuyers to secure your ideal residence. This mortgage will help you determine exactly how much you can spend on a home. Plus, getting pre-approved for a mortgage can help you avoid the temptation to spend beyond your financial means to acquire your dream house.

3. You don't know what it takes to go from homebuyer to homeowner.

The homebuying process can be long and complicated, especially if you have no idea about what to expect from it. Fortunately, real estate agents are available to help you take the guesswork out of going from homebuyer to homeowner.

A real estate agent is a housing market professional who is happy to share his or her insights with you. He or she will respond to your homebuying concerns and queries and teach you about all stages of the homebuying cycle.

Furthermore, a real estate agent will set up home showings, keep you up to date about new houses as they become available and negotiate with property sellers on your behalf. This housing market professional will even go above and beyond the call of duty to guarantee you can purchase a home that you'll be able to enjoy for years to come.

When it comes to buying a home for the first time, there is no need to navigate the homebuying journey alone. Instead, collaborate with a real estate agent, and you can accelerate the process of acquiring a top-notch house at a budget-friendly price.





Posted by Classified Realty Group on 5/14/2019

If you decide you're ready to purchase your dream house, you should submit a competitive homebuying proposal from the get-go. Otherwise, you could risk missing out on the opportunity to acquire your ideal residence.

Submitting an offer to purchase your ideal house that meets the expectations of a property seller can be simple. Now, let's take a look at three tips to help you craft a competitive offer to purchase your dream house.

1. Examine the Local Housing Market

The price of a home in a big city may prove to be much higher than the price of a comparable house in a small town. Much in the same vein, a housing market that features an abundance of sellers is likely to be far different from a market that includes many buyers. However, if you assess the local housing sector closely, you can identify real estate market patterns and trends and craft your homebuying proposal accordingly.

Oftentimes, it helps to look at the prices of recently sold houses in the city or town where you want to live. You also may want to find out how long these homes were available before they sold. That way, you can differentiate a buyer's market from a seller's one and put together a competitive offer to purchase based on the present's real estate sector's conditions.

2. Analyze a Home's Age and Condition

A brand-new home may prove to be more expensive than an older house that is in need of major repairs. Comparatively, a recently renovated house is likely to be a great choice for buyers who want to avoid property repairs, while a "fixer-upper" home may be a top option for those who are ready to tackle property repairs on their own.

As you analyze a home's age and condition, you should consider how much you are willing to pay for this residence. It sometimes helps to consider potential home upgrades and repairs that may need to be completed. And if you evaluate possible home improvement costs, you can account for these expenses in your offer to purchase.

3. Consult with a Real Estate Agent

A real estate agent is a homebuying expert, and his or her goal is to ensure you can acquire a great house at an affordable price. Thus, if you collaborate with a real estate agent, you can put together a competitive offer to purchase in no time at all.

Typically, a real estate agent will offer housing market insights that you may struggle to find elsewhere. And when you're ready to submit an offer to purchase your dream home, a real estate agent will help you craft a homebuying proposal that is sure to get a seller's attention. Plus, a real estate agent will negotiate with a seller's agent to help you get the best price on your ideal house.

Ready to submit an offer to purchase your dream home? Use the aforementioned tips, and you can put together a competitive homebuying proposal and quickly accomplish your homebuying aspirations.





Posted by Classified Realty Group on 5/7/2019

Finding the ideal home for your family's needs is no easy task, but if you stay organized and focused, the right property is sure to come along!

One of your most valuable resources in your search for a new home is an experienced real estate agent -- someone you trust and feel comfortable working with.

They'll not only set up appointments for you to visit homes in your desired price range and school district, but they'll also help keep you motivated, informed, and on track. Once you know and have shared your requirements (and "wish list") with them, your agent will be able to guide you on a path to finding the home that will best serve your needs -- both short- and longer term.

In addition to proximity to jobs, good schools, and childcare, you'll probably want to pick a location that's close to supermarkets, recreation areas, and major highways. If you have friends or family in the area, then that would also be a key consideration.

While your immediate needs are a good starting point for creating a checklist of requirements, it's also a good idea to give some thought to what you may need in the future. Plans to expand your family, possibly take care of aging parents, or adopt pets are all factors to consider when looking at prospective homes to buy.

If you have college-age children or recent graduates in the family, you might have to save room for them in your new house. Many grads need a couple more years of financial and moral support from their parents (not to mention home-cooked meals) before they're ready to venture out on their own. Houses with a finished basement, a separate in-law apartment, or even a guest cottage on the property are often well-suited for multigenerational households.

In many cases, people tend to buy a home based on their emotional reaction to it, and then justify the purchase with facts. For example, if the price was right and a particular house reminded you of your childhood home, then that combination of elements could prompt you to make an offer on the house -- assuming those childhood memories were happy!

Sometimes prospective buyers might simply love the look and feel of a neighborhood or the fact that there's a spacious, fenced-in back yard in which they can envision their children or dogs happily (and safely) playing.

According to recent surveys, today's buyers are attracted to homes that have energy efficient features, separate laundry rooms, and low-maintenance floors, counter tops, and backyard decks. Gourmet kitchens, stainless steel appliances, a farmhouse sink, a home office area, and outdoor living spaces are also popular features. Although your tastes may differ, many house hunters also like design elements such as subway tiles, hardwood floors, shaker cabinets, pendant lights, and exposed brick.

When it comes to choosing the home that you and your family will live in for the next few years, your top priorities will probably include a sufficient amount of space, plenty of convenience, and a comfortable environment in which you and your loved ones can feel safe, secure, and happy for the foreseeable future!





Posted by Classified Realty Group on 4/9/2019

Buying a home may prove to be challenging, regardless of where you decide to search for a house. However, if you are aggressive in your pursuit of your dream residence, you could speed up your home search.

Now, let's take a look at three tips to help you stay aggressive during your quest to find your dream house.

1. Keep Track of the Local Housing Market

You know you want to purchase a house in a particular city or town, but residences are selling quickly. Fortunately, if you monitor the local housing sector, you may be better equipped than other buyers to pounce at an opportunity to acquire a terrific residence at a budget-friendly price.

Be persistent in your home search. Review the local housing market daily, and if a home becomes available that you want to check out, schedule a showing right away.

Of course, once you find your dream house, don't hesitate to submit an offer to purchase it. Because the longer you wait to submit a homebuying proposal, the more likely it becomes that a rival homebuyer could acquire this residence.

2. Attend Open Houses

An open house provides an excellent opportunity to walk through a residence at your convenience. Then, if you believe a home is right for you following an open house, you can schedule a showing or submit an offer to purchase.

If you attend an open house, take notes when you identify things you like or dislike about a residence. These notes may help you make an informed decision about how to proceed with a home after an open house.

Ask questions during an open house, too. Remember, a seller's agent is on hand during this event, and he or she can provide you with home insights that you may struggle to obtain elsewhere.

3. Work with a Real Estate Agent

Although you may believe you possess the skills and expertise to quickly discover your dream residence, it never hurts to get extra help. And if you hire a real estate agent, you can receive comprehensive assistance as you work diligently to acquire a house that suits you perfectly.

A real estate agent is committed to a buyer's success, and as such, will do whatever it takes to help a buyer accomplish the best-possible results. Therefore, if a buyer wants to purchase a house near a beach, a real estate agent can keep this individual up to date as new beachfront residences become available. On the other hand, if a buyer is operating on a tight budget, a real estate agent will help this individual find a wonderful house that falls within his or her price range.

As you get set to conduct an in-depth home search, it generally helps to prepare for the homebuying journey. Thanks to the aforementioned tips, you can take an aggressive approach to accelerate your home search and boost the likelihood of acquiring a house that you can enjoy for years to come.




Categories: Buying a Home   buying tips