Archive for April, 2010
How You and Your Colville Real Estate Agent Avoid Making Lowball Offer Mistakes
Sometimes, you would hear homebuyers complaining of outright rejection of their offers. This is the same everywhere even in Colville. Unfortunately, they do not realize that they or their Colville real estate agents may have caused this rejection because of a lowball offer. It is important that you learn how to avoid making mistakes when you give this type of offer. You can also make sure that your agent does not commit the same mistakes.
- Failing to get in touch with the listing agent. Do not underestimate the huge help your listing agent can give you. He can offer valuable information that can help you write a good offer in a way that the seller will find it difficult to resist your offer. Make sure that your Colville real estate agent gets in touch with the listing agent first before you do anything. For all you know, the property may already have been sold. It is also important that you inquire about the other offers that the property might have received.
- Failing to give a satisfactory amount of earnest money. If you want the seller to take notice of your offer, you should make sure that you offer a substantial amount of earnest money. This usually means 3% of the property’s selling price. Do not give a low deposit with your lowball offer. It will only be ignored.
- Appearing too desperate. If you are going to submit a lowball offer, make sure that you do not attach a letter begging the seller to take the offer. Sellers want to make money and they do not really care if the property is your dream house. Make sure that you appear in control, so that your offer will not be taken for granted. If you are going to send out a letter of plea, make sure that you can offer a really good amount of earnest money.
- Submitting fake comparable sales report. If you are going to compare the home’s pricing to other similar properties, make sure that the report is valid and comparable. Otherwise, you might want to avoid doing this altogether. You will likely end up losing the house. This is particularly true if the house is priced sensibly. You will only end up insulting the intelligence of the Colville real estate agent working for the seller.
The next time you decide to make a lowball offer; make sure that you and your Colville real estate agent avoid making these mistakes.
Buying a Home? Learn How to Get the Money for Down Payment
Unlike before, it is considerably easier to find down payment for your new home. Nowadays, many financing companies and banks only require about 20% of downpayment. Of course, not everyone can afford to give that amount. Many people resort to applying for FHA loans which only require about 3.5% downpayment. Regardless of where you apply for loan, the fact remains that the bigger your downpayment is, the lower is your mortgage.
But how do you look for your down payment? Where do you look for that kind of money? Here are a few suggestions –
- Check with the IRS for tax refund. If you are one of those people who find it hard to save money or discipline themselves when it comes to their spending, you might want to change your withholding exemptions from 1 to 0. This way, you will get a bigger tax refund. Of course, your employer will deduct a bigger amount from your income, but you are assured of an indirect savings.
- Borrow money from relatives or friends. If you are going to borrow money for downpayment, you might want to check with friends and relatives. You may be able to borrow money without interest and with no strict terms of payment. You will not be encumbered with another loan. Perhaps, you can ask your parents for cash gift.
- Start saving money NOW! If you are thinking of buying a house, you need to restructure your finances. You need to plan properly and fix your finances. This means allocating a certain amount to your savings every month, so you will have more money saved by the time you are ready to drop cash for down payment.
- Sell whatever you can. Look around your house. There are so many things there that you may not need but other people might need. Why don’t you hold a garage sale, or perhaps sell things online? You will be surprised at how much money you can earn from selling stuffs in Craig’s List or eBay.
- Consider the impossible – get the seller to give you the cash! This may come as a surprise to you, but many people have actually pulled this off. This usually happens when you agree to pay the seller’s asking price and in fact, paid it! The seller may actually give you or lend you the money for down payment, just so you can secure the mortgage loan.
There are still other ways to get money for downpayment. You just need to be more extra imaginative and creative in your ways.
How to Cancel a Listing Agreement
It is always a good thing to ask how you can cancel a contract before you actually sign one. It is a good idea to have these questions answered first before you encumbered yourself with a contract including a real estate contract. This may also include a broker’s agreement with your Colville real estate agent.
These contracts may also include a listing agreement, a purchase agreement with a real estate owner, or mortgage refinancing agreement or other forms of contracts or agreements related to real estate. These kinds of contract are not easy to get out of and they can cost you a lot of money, so it is always a good idea to know how you can get out of it legally and effectively before you even sign the agreement. But how do you really get out of a listing agreement?
What if you cannot figure out how you can get out of it legally? What if nobody can provide a satisfactory answer? Then, do not sign the contract until you have a lawyer review the contract for you. You will certainly save yourself unwanted grief if you know the legal ramifications of every clause in the agreement.
Canceling a Listing Agreement
There are several ways to cancel a listing agreement. There is the obvious option, you can ask for the cancellation of the agreement upfront. You need to ask before you even enter into an agreement. If the agreement, for whatever reason, refuses to cancel the contract despite dissatisfaction with service, then you should not sign the contract. If the broker’s company policy prohibits cancellation of contract, then do not sign an agreement with them.
The contract should have a protection or safety clause. So, for instance, you find yourself unsatisfied with the services of your Colville real estate agent, you can contact the agent’s broker and request cancellation of contract or assignment of another broker to you.
If nothing works and you have already signed the contract, then your remaining option is to get in touch with a real estate lawyer who can help you get out of the legal quagmire that you are in.
Entering into a listing agreement contract can be detrimental if you are not sure about what you are getting into. You need to know how you can get out of it before you sign an agreement with a broker or a Colville real estate agent. You should always make sure that the contract does not only work for the broker’s benefit but for your own as well.
WELL-MAINTAINED COLVILLE HOME ON 2 ACRES
http://www.tourfactory.com/s553720/r_www.youtube.com
For more information, contact:
Jeff Hinton
5096848000
COLDWELL BANKER AM-PAC REALTY
Great location for this well-maintained ranch-style home on 2 acres on the edge of Colville. Natural gas heat, newer vinyl windows and full unfinished basement give you great options.
Duration : 0:1:52
BEAUTIFUL COLVILLE CUSTOM HOME
http://www.tourfactory.com/s592258/r_www.youtube.com
For more information, contact:
Jeff Hinton
5096848000
COLDWELL BANKER AM-PAC REALTY
Beautiful custom home on fully landscaped & fenced corner lot. Vaulted ceilings with great room concept gives open feeling. Spacious master suite with walk-in closet & bath, along with main floor laundry, gives the option of one-level living-yet there is a full daylight basement with family room, office, 2 bdrms, full bath & storage. Central vac, sprinkler system & pond are only a few of the amenities.
Duration : 0:3:16
