Search results “Accepting an offer to purchase”
Buying a House:  Your Offer Was Accepted, What Now?
Read the Full Article at: http://www.HomesNorthernVirginia.com/ Today's Northern Virginia Real Estate video answers the question - Your offer to buy a home was accepted, what's next? ================================================= Steve Bradley, Northern Virginia Real Estate web site http://www.HomesNorthernVirginia.com Northern Virginia's Best Home Search Site for Your Tablet & Mobile device http://www.NOVAhomeSearcher.com And look at us, we're on Facebook too. http://www.facebook.com/BradleyGroupRealtors ================================================= Buying a home in the next 3 months? Download our FREE 31-Page Home Buyer Report at http://www.homesnorthernvirginia.com/free-31-page-new-home-buyers-guide/ If you are selling in the next 3 months why not DOWNLOAD our FREE Smart Seller Program at http://www.homesnorthernvirginia.com/smart-seller-program/ ================================================= You should YouTube with us, it's good for you! Stop by our YouTube Channel often! http://www.youtube.com/user/BradleyGroupRealtors/ Or better yet why not just subscribe by clicking the link below http://www.youtube.com/subscription_center?add_user=BradleyGroupRealtors =================================================== DISCLAIMER: Steve Bradley is not an attorney and not offering legal advice. He does not hold a real estate brokerage license in any every state. Laws, requirements and local policies differ and selling and buying real estate can have significant legal implications. Always seek the advice of a licensed attorney and/or real estate broker if you have concerns about your sale or purchase of a home. Music Supplied by:Chan Redfield, Main Track -- Get it Going
Can a Seller Back Out After Accepting an Offer?
Can a seller back out after accepting an offer, a very frustrated buyer asked their real estate agent. Before the real estate agent could answer, the buyer yelled the seller backing out is breaking a contract we agreed to, what's the real estate contract law governing escape clause the buyer demanded!? Whew... Yes, a seller backing out of house sale before closing is very frustrating and indeed is breaking a transaction. Depending on the reasons why the seller backing out may ultimately depend upon whether they can or not. At the end of the day it is very hard to force a seller to sell their home. A few of the most common reasons a seller back out of real estate contract is: 1. They think they could've got a better price. 2. They appraisal came in too low. 3. Practical reasons like they lost their job, the job transfer didn't go through, they were diagnosed with cancer, or possibly they were selling their home contingent upon buying another it fell apart. 4. Probably the most common reason is simply cold feet. Although buyer's remorse is far more common than sellers remorse, it does happen. A seller may get cold feet due to the strong emotional attachment they may have with their home. In such a case, it's best for the seller to remember the reasons they wanted to seller their home to begin with and to reexamine their home selling motivations. Just like buying a home, selling a home is a big life change. Change means different things to various people. Most everyone could agree that with change comes a certain amount of anxiety and fear. As long we remain clear on why we are doing something, in this case, selling a house, then everything will work out for the best. Real estate contract law on the other hand is best discussed with a real estate attorney. While your trusted real estate adviser can answer many questions and offer guidance, if you want sue the seller, you will need a real estate attorney. Just be aware it is very difficult to force anyone out of their home and may not be worth the aggravation and cost. It's up to you. The sale contract the seller and buyer agree to is a key consideration. Did the seller disclose that they were selling their home contingent upon buying their new home? If so, the buyer should've known this upfront before submitting an offer and should take a seller backing out of escrow in stride. In a case the seller withdraw from closing, the seller needs to be prepared to return the buyers earnest money deposit, cost of the home inspection, appraisal, and perhaps even storage for the buyers, and perhaps some temporary housing costs. It all comes down to what was in the sales contract and any other addenda to the contract that were agreed upon. Obviously, this a situation no one wants to find themselves in yet it does happen. Today's real estate advice video about this to light so you can be better prepared. If you want to know more about how a seller can back out of a contract, or have ideas for more real estate advice videos, please let me know. Want to know more about the Las Vegas real estate market trends? Send me a message, I'm here to help! Enjoy an amazing day! -Your Real Estate Geek, Andrew Finney Contact info: Andrew Finney USMC Combat Veteran/ Real Estate Consultant License #S.0173260 Call/ Text: 702-710-0287 Email: [email protected] http://www.andrewfinneyteam.com/Home BHHS, Nevada Properties 7475 W. Sahara Ave. Suite 100 Las Vegas, NV 89117 Designations- Certified Residential Specialist (CRS) Accredited Buyer's Representative (ABR) Sellers Representative Specialist (SRS) Certifications- Military Relocation Professional (MRP) Awesome Music Courtesy of: Song: Syn Cole - Feel Good [NCS Release] Music provided by NoCopyRightSounds. Video Link: https://www.youtube.com/watch?v=q1ULJ92aldE Download this track for FREE: http://bit.ly/SynColeFeelGoodDL
Views: 5994 Andrew Finney Team
After the Offer is Accepted
The seller has accepted your offer. Now what? We walk you through the steps you should take before you move in, including selecting an escrow agent or title company, satisfying contingencies, inspecting the home, clearing the title and taking a final walk-through.
Views: 2046 Jason Opland
What To Do After Your Offer Is Accepted - Buying A Home
David Muerle with Coldwell Banker Kappel Gateway goes over some of the steps to that will happen after your offer is accepted, but before you finalize purchase of the home. See more at http://www.finesolanohomes.com
Views: 1334 David Muerle
8 tips on how to get your offer accepted - Jeff Curti Real Estate Broker
Jeff Curti | http://www.jwcurti.com/ | [email protected]| 951.532.7650 8 tips on how to get your offer accepted in a real estate market with low inventory. #1 Make sure your offer is legible #2 Cash is king if its the highest offer. Usually what nets the seller the most amount of money at the end of an escrow period is KING! #3 Provide pre approval letter, Desk Underwriting approval and or proof of funds with all offers. #4 Find out if the seller wants a short or long escrow period prior to submitting an offer. 5# Allow the seller to stay in the house after the close of escrow up to 3 weeks for free if requested. 6# Shorten the loan contingency period and inspection period to strengthen the offer. 7# Split escrow fee's with the seller 50% / 50% as usual and customary. 8# If you want a home warranty purchase it yourself. Don't ask the seller to pay for it. GOOD LUCK!!!
Views: 1172 Jeffrey W. Curti
When Seller backs out of mutually accepted deal...
Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons answers a question about what happens when a Buyer and Seller have mutual acceptance of a binding Purchase & Sale Agreement and at the last minute, the Seller backs out of the deal... What can the Buyer do? And what about compensation for the Buyer's Broker when the Broker brought a 'willing & able buyer' to the table? Watch now to hear Annie's advice. _______________________________________________________________ Annie Fitzsimmons Washington REALTORS® Legal Hotline Lawyer Series: Overconfident Seller + Over-eager Buyer = Broker Liability https://www.warealtor.org
Views: 5462 Washington REALTORS
Tips for Getting a Lowball Offer ACCEPTED!
In today's real estate FAQ's episode you'll learn tips for getting a lowball offer accepted! Let's begin with some basic how to buy a house questions that come up frequently. Nearly every buyer always asks, "can I offer less money for the house," when they are ready to write an offer. When buying a house, the list price and terms of the contract are negotiable. To weigh the odds of what is considered a lowball offer on a house, begin with understanding if the current market is a: sellers market, buyers market, or balanced market. Depending on the type of market will determine the likelihood of getting an offer accepted on a house, especially one quite a bit under list price. The next question that usually pops up is, "how much should I offer on a house below asking price?" That's a great question! Real estate lowball offer mistakes occur when a buyer first doesn't understand the current market conditions and trends. Working with a savvy buyer agent, when a home buyer gets ready to write an offer, the agent will double check value. If higher than reasonable then the offer should be less than asking price. If the list price and valuations check out, then it's matter of motivation on behalf of the seller and the market conditions. (i.e. are multiple bids occuring? how long has the house been on the market?) So, how to make lowball offers on a home successfully? First, understand the market conditions. (Yes, I'm driving this point home because it's critical to your success!) Next up, find the homes with the longest days on market that you like best. Next, schedule with your trusted real estate advisor to check them out asking your agent to "comp" the property before viewing the home. Ask your real estate agent if the home is overpriced, underpriced, or at the right list price. Chances are, if a home has a many days on the market over the average in your area, the price isn't right and the seller must come down if they hope to sell. So, what percentage is considered a lowball offer. If the home is priced correctly, anywhere from 3%- 5% under list will definitely be low. If the home is overpriced then anywhere from 7%- 10%+ will be considered a lowball offer. Here's the deal... In practice, me and my teammates have assisted home buyers get as much as 15% off the list price on occasion even in a seller's market. While it's certainly not the norm, every property, buyer, and seller thus negotiations are unique. To balance that fact, if a buyer wants to consistently be unreasonable by making lowball offers on correctly priced homes or underpriced homes and not listen to the prudent counsel or learn how to make a successful offer, then I will consider the buyer unmotivated to buy a house and simply fire the client. Please understand that when real estate agent's represent home buyers, we are looking out for your best interest and will assist you in getting the deal possible for the current market on both price and terms that help you get the home you want. Depending on your motivation to get the house, days on market, price, and market conditions, terms needed (i.e. buyer closing costs, home warranty, etc...) will determine the best way to make an offer on a house. Be realistic, be smart, and listen to your trusted real estate advisor whether you'll be able to get your lowball offer accepted or not. Sometimes it does work out. To get the most of this video, watch it start to finish and share your questions & comments, about when to walk a way from a home purchase with our community below. Thank you. To get honest information the next time you're buying a home or selling a house contact a great local trusted real estate advisor. If you want help finding one of the best real estate agents in the nation, a CRS please let me know. I'm here to help! If you want to know more about Las Vegas real estate or buying a home in Las Vegas, please let me know. I'm happy to help! Thank you for watching! =) Enjoy an amazing day! -Your Real Estate Geek, Andrew Finney Contact info: Andrew Finney USMC Combat Veteran/ Real Estate Consultant License #S.0173260 Call/ Text: 702-710-0287 Email: [email protected] https://www.andrewfinneyteam.com/ BHHS, Nevada Properties 7475 W. Sahara Ave. Suite 100 Las Vegas, NV 89117 Designations- Certified Residential Specialist (CRS) Accredited Buyer's Representative (ABR) Sellers Representative Specialist (SRS) Certifications- Military Relocation Professional (MRP) Awesome Music Courtesy of: Song: Syn Cole - Feel Good [NCS Release] Music provided by NoCopyRightSounds. Video Link: https://www.youtube.com/watch?v=q1ULJ92aldE Download this track for FREE: http://bit.ly/SynColeFeelGoodDL
Views: 9991 Andrew Finney Team
What happens after you accept an offer?
In this video learn about what happens after you have accepted an offer on your home or condo in Toronto. What happens if the buyer had included conditions, such as a financing condition? What happens with the deposit cheque that the buyer has promised to provide? When and where will that cheque be held? For more information go to Jim's website www.jimemilson.com
Views: 269 Jim Emilson
Can a Seller be forced to sell after accepting an offer? For Huntington Beach Home for sale
http://Clickhomesnow.com Can a Seller be forced to sell after he/she accepts an offer on their home? Absolutely not! However depending on certain factors the seller may be obligated to pay for certain fees and expenses such as commissions and certain expenses incurred by the buyer and whatever was agreed in the liquidated damages clause of the contract.This video explains that and more. This is not intended to be legal advice. I am not attorney. I am a licensed real estate broker with over 20 years of experience in both lending and home sales. I did speak to Attorney May Chen for the California Association of Realtors and she said that it is very rare for a buyer to win a case against a seller for specific performance and for breaking the contract. The liquidated damages clause would go into effect and the seller would be responsible for paying the costs the buyer incurred i.e.appraisals, inspections etc. For a FREE Market Analysis and a range of Value on your home go to http://www.clickhomesnow.com/Web/AR433434/WebForm/index/89380 For a FREE Report on "7 Secrets To Selling Your Home in 90 days or Less Guaranteed"™ http://www.clickhomesnow.com/Web/AR433434/WebForm/index/89378 All Rights Reserved, Copyrighted 2012 Lillian Walker©
Views: 4452 Lillian Walker
Understanding Real Estate - Offer and Acceptance - How To Information on Buying and Selling
Don Reedy is a top real estate agent and community leader in North County San Diego. In this real estate course and video learn how to understand the home purchase agreement better with specifics on the offer and acceptance. Real Estate is complicated, and if you are buying or selling a home or property you need to be smarter than ever. http://sandiegoequityfacts.com In this real estate class learn how to understand Real Estate contracts and disclosures, financing and mortgages, and most importantly what your Realtor may not be telling you. Don't just search for homes and rely on what a friend or real estate agent tells you. Our videos will teach you all the secrets and tips you must know before you buy or sell your next home. ************************************* Want Information on Your Home's Value? ; http://sandiegoequityfacts.com/what-is-your-home-worth/ ************************************* Get Social My website: http://sandiegoequityfacts.com Google+: https://plus.google.com/u/0/+DonReedy Facebook: https://www.facebook.com/don.reedy Twitter: https://twitter.com/donreedy Instagram: https://www.instagram.com/donreedy/ LinkedIn: https://www.linkedin.com/in/donreedyrealestatesandiego ************************************ My Video Guru: http://videospot.net Real Estate Investment and Retirement Guru: http://bawldguy.com/about/ *********************************** Learn About Me and Let's Meet: http://sandiegoequityfacts.com/associates/don-reedy/ s one of a handful of Realtors who can boast of being a top real estate agent, and also having the background and experience to work with the financial, legal and practical skills needed to bring together buyers and sellers. Don started in real estate working with the San Diego County Assessor, went on to law school at USD, worked in top management in the construction industry, led a company to the Inc. 500 award three years in a row, and throughout all his career has studied and participated in architecture, manufacturing and sales management. He ran a successful software company, and was an award winning Realtor with Keller Williams, Prudential California Realty Real Living Lifestyles Real Estate, Carrington Real Estate and The Broadmoor Real Estate Group in North County San Diego. Experience: Don Reedy is a full-time, professional real estate agent and Realtor specializing in North San Diego County. An award winning agent, Don has tutored new agents as a mentor, created and implemented web site tools and sites to help clients best buy and sell their homes, properties, land or investments. Don primarily works in Oceanside, Carlsbad, Vista, Fallbrook, Bonsall, Encinitas, Valley Center, Escondido and San Marcos. Honors: Don has been honored with awards as a top producing agent, and with awards from fellow agents as well. He is a contributing real estate writer to one of the nation’s most popular real estate blogs, Bloodhound Blog, and syndicates his expertise to local and national newspapers, as well as the Oceanside Chamber of Commerce. Education: Don graduated from Mount Union College with a degree in biology. After service in the U.S. Marine Corps, he attended the University of San Diego Law School. Believing that ongoing education best serves not only himself but those of his clients, Don has continued his study of real estate with programs in Commercial Real Estate, 1031 Exchanges, Ethics, Law, Accounting and Finance. He has studied and contributed to classes and texts on Equity Sharing, a form of home ownership. Personal Information: Don lives in the foothills of Vista, CA, along with his wife and 2 dogs. An avid golfer and boater, he also enjoys strumming his 6-string guitar on his front porch swing, volunteering for local Chambers of Commerce, creating web sites for fun, tutoring, mentoring, and attending and participating in many church activities. He loves physics and string theory, “It’s a Wonderful Life”, Buffett, Kottke, and great books. Memberships: Don is the past President of the Oceanside Chamber of Commerce, and currently serves on the Board of Directors, where he currently writes a monthly article on Real Estate for the community there. Additionally he sits on various committees that plan and implement business strategies throughout the North County. He is a member of nonprofit service organizations that help place and train families, a member of many faith-based organizations, and founding member of the Commercial Board of the North San Diego County Association of Realtors. Don is also active in REIE, a real estate investment exchange. Don also writes and contributes to Bloodhound Blog, a nationally known real estate blog of knowledge and experienced Realtors, Lenders and Business people. Don Reedy My Google Profile: https://plus.google.com/u/0/+DonReedy **********************************
Views: 1166 Don Reedy
Canceling Your Real Estate Contract - What to Expect When Backing Out of a Deal
Things happen in life and there are times when you have to back out of a signed real estate contract. This can be a rather scary situation and you may be wondering just what might happen if you do so. The potential consequences for backing out of a real estate contract vary. What you are liable for will be spelled out in the contract itself. With few exceptions though, a seller cannot FORCE you to buy their home by taking you to court. As I see questions come up from time-to-time in regards to what a buyer who has a signed real estate purchase agreement needs to do when canceling that contract, I decided to create this video and post it on my real estate video blog at PlymouthHomes.TV to benefit other homebuyers who are working through this issue in the future.
Views: 10836 Plymouth Homes TV
Deadline Time and date for accepting an offer in Real Estate Contract of Purchase and Sale
Axel Ziba Personal Real Estate Corporation Luxury Home Collection REALTOR® in Vancouver Engel & Völkers 130-1152 Mainland St. Vancouver, BC v6B 2X4 778-636-7707 www.axelziba.realtor
Buying a house: what happens after my offer is accepted?
Buying a house: what happens after my offer is accepted?
Views: 201 Jackie Uzoh
Bill Johnston Answers The Question; Do I have To Accept An Offer On My Property?
Our Broker/Manager and Legal Counsel offers his expert opinion on the popular topic. If you have a property for sale and you receive a full price offer, are you obligated to accept? Conversly, Bill explains the perils of setting your sale price low to generate bidding wars.
Law and You- House offer accepted, but now seller wants to accept another larger offer
My daughter and her husband put an offer in on a house and the seller accepted. He is now telling them that he has another offer for more $ and is going to sell it to them. They really wan the house, What can they do? Need a Lawyer? Call us today 570.714.HURT(4878)
Can You Withdraw an Offer on a House? (2018) | Hauseit®
Can You Withdraw an Offer on a House? https://www.hauseit.com/can-you-withdraw-an-offer-on-a-house/ Save Money with a Hauseit Buyer Closing Credit: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/ Yes, you can withdraw an offer on a house at any time before purchase contracts have been signed. However, you should be very careful about signing any sort of offer letter or form because doing so may enable a counter-party to sue you if you back out of an accepted offer. When is it too late to withdraw an offer? It becomes too late to withdraw an offer after you have signed a contract of sale and delivered an earnest money check to the seller’s attorney. The seller could counter-sign the contract at any point and deposit your contract deposit into the seller’s attorney’s escrow account. Generally speaking, once the seller has counter-signed the contract and returned the fully executed contract to the buyer’s attorney, the listing is considered to be in-contract and binding on all parties. However, please note that some buyers’ attorneys will try to be clever and include language that says the contract will only be considered to be fully executed and binding once the buyer’s attorney has confirmed in writing receipt of a fully executed contract. If this type of language is agreed upon, then technically the buyer would be the last to act vs the seller, and the buyer could technically still withdraw an offer by instructing his or her attorney to say that they never received the fully signed contract. We’ll explain in the following section why this is a bad idea, and why you should never sign anything if you don’t intend to follow through in good faith. Pro Tip: You can increase your negotiating leverage by making an all cash offer instead of an offer which relies on financing. An all cash offer by default contains no contingencies, and as a result the assuredness of execution may enable you to negotiate a price discount. What if you signed an offer form? If you signed an offer form or letter of intent, then you have put yourself in a precarious situation and may be sued if you don’t follow through. You should immediately protest to the broker that you have been tricked into signing something that wasn’t necessary to be signed. For example, in New York offers are generally emailed and are completely non-binding. There is never any need for a buyer or a seller to sign anything when it comes to the offer submission and negotiation process. However, some brokers do have their own offer submission forms and templates, and you should push back hard should you ever come across such a form that requires your signature. Ask to speak with their principal broker if the listing agent demands that you sign what should be a completely non-binding offer. You can even warn them about the unauthorized practice of law in some states like New York. This is serious because even though offers are generally not binding in most states like New York, whether they be written or verbally made, there is legal precedence where courts ruled that offers were indeed binding when signed and when it included common contract language. As a result, you should never sign any sort of offer form or letter of intent, especially if you want the ability to withdraw your offer before having signed a formal contract of sale. Pro Tip: In Massachusetts, courts ruled in McCarthy vs Tobin that because both the seller and the buyer had signed a standard offer to purchase form from the local Realtor association which included common contract language, the accepted offer was binding. Can you re-negotiate an offer? Yes, you can re-negotiate an offer instead of withdrawing it if you’re still interested in buying the property, but just on different terms. In fact, it’s quite common for buyers to attempt to negotiate after inspection but before signing a contract. Often times, buyers will lure a sellers into a false sense of security by getting an attractive offer accepted. Then the buyer will hem and haw and take up as much of the seller’s precious marketing timeline as possible. Then, at the last possible moment, the buyer will attempt to re-negotiate the deal. The buyer will tell the seller that they’re ready to sign the contract ASAP since they’ve finished all of their due diligence, but just need this one concession from the seller. The seller will be frustrated at having wasted all of this time with the buyer, and may actually agree to the concession since the buyer is ready to sign.
Views: 47 Hauseit
The Seller Accepted the Offer - Now What? - South Bend Home Loan
http://www.SouthBendHomeLoan.com The Seller Accepted the Offer - Now What? - South Bend Home Loan Congratulations on finding your home! This will be an exciting time for you, but it can also be stressful especially if you don't know what to expect. Let's talk through the process of where things go from here. Your Realtor helped you get your offer accepted, but their job isn't done. He or she is going to continue to be an important part of the process between now and the closing on your purchase. During this part of the process, your realtor will focus on getting the inspections arranged for you, making sure the title work is done properly and coordinating and further agreements that you and the seller need to reach. Little or even big bumps can still come up during this phase of buying, and your Realtor will be your partner for smoothing those bumps out so that you can make it successfully into your new home. I, meanwhile, will work on your loan approval. Your file and purchase agreement will go to an underwriter right away. Her job is to look over your income documents, bank statements and credit report closely to make sure that you meet all the rules for getting the loan approval. I'll also order your appraisal so that we can make sure that your home is worth the price you are paying. It's normal for the underwriter to ask some questions about your paperwork or the appraisal during this process. I'll be the connection between her and you to make sure all the questions get answered. So what do you do during all this? Great question! First, you need to get me all the paperwork I need for your loan approval right away. Maybe you've already gotten most of this to me, which is great. At a minimum, though, I'll need you to sign new forms that clarify the terms of your loan based on the home you found. You also can lock in your interest rate at this point. You don't have to if you don't want to, but this is the earliest point in the process where you are able to lock the rate in. After you get me your paperwork, start shopping for your home insurance. If you know an insurance company you wish to use, feel free to start there. If you'd like suggestions, I'm happy to share names of reputable insurance companies in our town. I'll need to know who you are using and what the insurance premium will be within 2 weeks of your offer being accepted, so you'll want to get on this quickly. You'll also want to take care of the little details related to moving into the home. You should call about utilities before closing day and start the process of moving them into your name. You'll also want to work out the details for moving your things from your current home to the new one. One of the last things you'll want to do but a very, very important one, is walk through the home one final time on the day we close on your loan. You may have been in the home several times already, but there is always a risk that something happened to the house between the last time you were there and the time you take ownership. If some damage was done, if the seller left some things they shouldn't have, or if anything else isn't as you expected it to be, you need to find that out before taking ownership. If you find it out afterwards, it's too late to do anything about it, so plan on going through the house one last time on closing day. So, those are the primary steps in getting you from purchase agreement to closing. If you'd like to learn more, give me a call at 574-707-0196. Congratulations again on your new home! Lori Hiscock, Ruoff Home Mortgage, NMLS ID#404320, Phone 574-707-0196 Produced by http://BXFilms.tv
Views: 2320 SouthBendHomeLoan
What to do when a seller accepts your offer
http:www.homebackers.com When you buy a house the seller has to accept your offer in order to proceed to closing. John Cochran with HomeBackers explains what happens next after you get the seller to agree on the terms in your purchase contract
Views: 3038 homebackers
What happens After the offer to Purchase is Accepted - Jody Workman C-21
Buying a home is very Stressful. Here are some tip on what you need to do after the offer is accepted. This video was brought to you by Jody Workman Real Estate at Century 21 Foothills --Lethbridge office. For other tips or information about selling, buying, or renting in Lethbridge or southern Alberta call me at 403-332-0420. Your Real Estate Lethbridge expert. Visit me on the web www.jodyworkman.net.
WHATS NEXT  After Purchase Contract PART1
Now that your offer on a house has been accepted by the seller, and you have a purchase contract....WHAT HAPPENS NEXT with your mortgage lender? What do you need to do next with your Mortgage Loan Officer?
Seller Perspective for a Home Sale Contingency Offer
Chris Harpster of Revealty explains the perspective you should have as a home seller when a buyer would like to make an offer with a home sale contingency. http://Revealty.com Transcript: In a seller's market dealing with a home sale contingency can be an important thing to consider. Basically a home sale contingency means someone makes an offer on your property and it's contingent on the sale of their home. There are a couple different scenarios under which you can see that. There are buyers who haven't even put their house up on the market yet and it's contingent on the sale of the house and you don't know what the price is or how likely it is to sell. I'm very reluctant to advise a seller to accept an offer under that pretense. The other scenario which is the more common one you'll see is that a buyer makes an offer that's contingent on the sale of their house and that house is under contract and closing in the next 30 days or whatever. Most sellers will consider taking that home sale contingency. A couple things to keep in mind. You want to protect yourself in your contract. You want to make sure that you have some kind of escape clause in there where if the house doesn't sell, if it doesn't close on time, how you're going to handle extensions, what is someone else makes an offer on it? How easy is it to get rid of that person if they're not able to deliver? That's the big question is you're at the mercy of whatever happens on their house deal so if their house doesn't close and doesn't sell on time you sit and wait. So it's nice to have a backup plan or other options. And keep in mind while this whole process if playing out, your property is not showing as active on the MLS. So you're missing out on potential people who would be interested in seeing that property. This option is much less appealing in a seller's market. If you're dealing with a bank own property or a short sale, they will not accept a home sale contingency even if the house is in contract. And some private sellers won't accept that contingency as well. And I'm not here to tell you whether you should or shouldn't. You should just be aware of your risk and potential liability in doing so.
What Happens After My Offer is Accepted?
Be prepared with all of the documentation required to secure a mortgage and finalize an offer to purchase a home.
Views: 4361 EquitableBank
Top 5 eBay Buyer Scams & How to Avoid Them - eBay Advice Part 1
►Top 5 eBay Seller Scams: https://www.youtube.com/watch?v=p-rTCHQ0b1k ►Top 5 eBay Buyer Scams PART 2: https://www.youtube.com/watch?v=wRzXW7GX8ms ►Free Bitcoin: https://www.youtube.com/watch?v=hZJn0icXLO8 cheaper price, saving both you and the buyer money - but this is against eBays policies and could lead to you being banned. Also, if something goes wrong with the transaction, you’re in trouble as a seller as you won’t have any protection from eBay - paypal however will protect the transaction for the buyer and you’ll end up out of pocket. -~-~~-~~~-~~-~- Please watch: "5 Reasons Why I Don't Buy Lepin LEGO Clone Sets & Why I took down one of my most popular videos!" https://www.youtube.com/watch?v=eZ2eX9vlcUQ -~-~~-~~~-~~-~-
Seller Recieving & Accepting Offer
This video reviews the process that the Seller would follow to accept an offer that they received from the Buyer
After Accepting Offer on House
Full Post: ttps://getlistedrealty.com/next-steps-after-accepting-offer/ What do you do next after accepting an offer on your home from a buyer? Watch this video below to find out exactly what you will need to focus on next and get closer to actually closing on your house. At Get LISTED Realty we give home sellers the opportunity to save THOUSANDS of dollars in real estate commissions by offering professional listing packages that get their home listed on the REALTORS MLS and everywhere online for a low flat fee. Included in these flat fee MLS listing plans is all the tools and information to be successful. For a low flat fee a home seller can sell their home as a For Sale By Owner or FSBO.
Views: 48 Get LISTED Realty
Counter Offer to Purchase Contract
This Video covers the Counter Offer to the Purchase Contract. How to fill out and typical counter items.
Views: 2796 Leana Berwick
What happens after my offer has been accepted?
WEBSITE: https://www.tgglawyers.com SCHEDULE YOUR CLOSING: https://closings.tgglawyers.com - - Step 1: The contract is submitted from the real estate agent and we gather the closing information - Step 2: We performa a title search to see all of the details about the property. - Step 3: The closing documents are prepared and reviewed by the attorney. - Step 4: The closing documents are signed by the buyers and sellers. - Step 5: The deed is recorded in the county records. - - Need to schedule a RESIDENTIAL or COMMERCIAL real estate closing? Call our office at (704) 663-1600 -OR- Visit https://closings.tgglawyers.com
The Agreement of Purchase and Sale | Mark Woehrle
The Agreement of Purchase and Sale is the document that is commonly used in Ontario,Canada to make an offer to buy a house. It shows the buyer's intent to purchase a property and to negotiate the terms of the Sale. It is commonly referred to as an "Offer". This document allows the Buyer to outline the conditions they wish to be placed in their offer to buy the seller's property. Some common examples of a Buyer's conditions include arranging financing for the property to be purchased or completing a home inspection. The Seller, in turn, may want to make changes to the offer for the Buyer to consider. This process can continue back and forth several times in an effort to reach an agreement. The Agreement of Purchase & Sale includes the Purchase Price, Deposit, Irrevocability, Completion Date, Chattels Included, Fixtures Excluded, Rental Items, HST, Title Search, Future Use, Title, Schedule A, Closing Agreements etc.. Mark Woehrle Broker RE/MAX, Escarpment, Realty Inc., Brokerage Cell: 905-512-1846 Email: [email protected] Website: www.markwoehrle.com Video Dialogue Hi Everyone. It's Mark Woehrle, Remax Escarpment.We're going to talk about writing an offer today and the agreement of purchase and sale. On it we start out with the date, of course, we put in the buyer name and the seller name. We put down the address that you are looking to buy. We talk about the frontage and the depth and of course your purchase price. After that, you are going to submit a deposit and we're going to give a time to the seller to respond to us. One of the key components to your agreement of purchase and sale is the irrevocable date. It is the day and the time that the other party as to respond to your offer. Until then your offer is open and they can either accept your offer, reject your offer, or make you a counter offer. Or, if they really don't like your offer and they get something else that is even better, they don't have to respond to you. The next thing that we will discuss is the completion date. That is the day that you would like to move into your new house. This again, is negotiable. The next thing we talk about is chattels, which are things like your fridge, stove, microwave, dishwasher, washer, dryer, any sheds, riding lawn mower, stuff like that. Sometimes they tell you in the listing if those are already included or if you have to ask for them. Then we talk about fixtures excluded. Sometimes sellers say, I want to keep this beautiful chandelier here. It's been in my family for three generations. Then we talk about rental items. For example, a hot water heater is very common item to have rented. Some people also have furnaces or air conditioners, heating pumps, also on rental. You want to know about that. The next thing we talk about is the HST. In a resale home the HST is generally included unless you did a lot of renovations. The next thing we need to talk about is the title search date. This is the date that your lawyer will have until to search the zoning. The use on your house most likely single family residential is what it can be legally used for. If you are buying a duplex, triplex, or a commercial building, you want to make sure that you can use your building for what you want to use it for. Don't just go by what the seller represents. Make your own inquiries always. At the end of the agreement, you have to sign your name and date it. And I have to witness that for you and sign it myself. The next part of the agreement we are going to talk about is generally called Schedule A and those are some of the conditions. The first condition is always to pay the balance of the purchase price subject to adjustments to your lawyer. Some more popular conditions are number one: Home inspection obviously. Number two: Financing. Number three: That you are getting insurance. Number four: That you are requesting a survey. And maybe you want to ask for the utility bills for the last year. Maybe you would like to view the property one or two or three more times. And if there is anything else that you would like to have as a condition, you can ask for it in this section here. Any questions please give me a call. Mark Woehrle, Remax Escarpment Real Estate, 905-512-1846 on the web www.markwoehrle.com
Views: 4111 Mark Woehrle
Tips to Writing an Offer in Today's Market - Get your offer accepted!
If you are a buyer in today's market, you have probably noticed the intense competition you are faced with when writing a purchase offer on a home. Follow these tips on how to write a strong offer that will stand out among the rest - and get accepted! 1. Show the seller you are a serious buyer by putting down a sizable deposit 2. Write a sincere heartfelt letter to the sellers 3. Have a strong preapproval letter from your lender Contact us at 562.344.5146 or NestSoCalGroup.com for more information or to start your search as a buyer!
Views: 145 NEST SoCal Group
Home Buying 101: What Happens After a Home Buyers Offer is Accepted?
Hey There! 👋🏾I've gotten several repeat questions on what happens after my offer is accepted as a buyer? ************ I've been getting a ton of questions about, "Okay Sonia, now my offer's accepted. Now what? So what happens?" So there's a couple of things that happen. Number one is you have to deposit earnest money. Earnest money is part of your deposit. Typically it's given within 24 hours of whatever is actually put onto the contract, sometimes it's three days, after the seller actually signs off on the contract and puts a solid date on there. So after that, that's when you have to deposit earnest money. Now earnest money is typically anywhere between one to three percent of purchase price, but it all depends. Your realtor might be telling you a little different, maybe it's a ... It just depends on purchase price honestly, or whatever's negotiated between the buyer and the seller. The second thing is, and this actually happens simultaneously, which is attorney review period and also home inspection. Attorney review period just really means that your attorney is figuring out whether or not there is a judgment on title, a tax lien, it could be a $30,000 tax lien or something. That is going on while you as home buyer are doing your home inspection. A home inspector is going to give you like this 30 page report and then you discuss that 30 page report with your attorney. So all this is going on after your offer gets accepted. So you trade earnest money, your attorney tells you, "Title's all clear and clean. There's nothing clogging the title." Also, your home inspection came back, you guys do some new negotiating on repairs et cetera, and then the loan happens. So then you talk to your loan officer, the loan officer says, "Okay, we're good." And then you close. So really that's what happens. So it's like you give earnest money right away and then simultaneously home inspection and attorney review period, and then it's loan process, clear to close and then we're done. And don't forget, like and subscribe. Woo woo. You can also follow me on these other media channels *** Website: http://www.seesonia.com *** Facebook: http://bit.ly/SoniaFacebook *** Instagram: http://bit.ly/instagramSonia *** Snapchat: https://snapchat.com/add/
Views: 106 Sonia Figueroa
Real Estate Back Up Offer Addendum
Troy Sage Training Real Estate Purchase Back Up Offer Addendum. How to use and complete the C.A.R. form BUO When a property has multiple offers on it, the proper procedure for the sellers agent is to present all offers. Once an offer is accepted by the seller, it's the sellers agent responsibility to prepare a Back Up Offer Addendum. In California the form is called C.A.R. form BUO. Here's how it works step by step. Once an offer is presented the seller or sellers agent should initial and date the bottom of the purchase agreement in the appropriate paragraph. If the offer is accepted by the seller, then the seller will also sign in the acceptance paragraph. The same goes if there is a counter offer or a rejected offer. It's vital that the sellers agent present all offers unless advised not to and documented in the listing agreement. So, when all offers have been presented, the sellers agent needs to send the purchase agreement back to the buyers agent. This is again the proper thing to do as it gives the buyers agent proof their offer was presented, and a reply from the seller (not just a verbal or email reply from the sellers agent). Competing the BUO is very simple. The form is designed to outline the terms of the back up offer. Meaning, BUO form states clearly what position the offer will be held in, if the buyer needs to begin their due diligence, if the buyers deposit needs to be held, and how long the buyer must wait for their offer to be accepted or looked at again. If you're not using this form as a sellers agent you are not keeping your Fiduciary Duty with your seller, and you're also not keeping communication open between the seller and additional buyers. If you're a buyers agent, make sure you get this addendum back and completed if your offer is being held in Back Up Position. If the seller does not execute the BUO, you simply do not have anything to show your buyer and worse yet you have nothing in writing that keeps your offer in consideration. Feel free to contact us with any questions.
Views: 10652 Troy Sage
Portland Real Estate Accepted Offer on Your Home
Sell your Portland Home - Step 3. Offer accepted on your home! This video helps Stephen FitzMaurice's (top Portland real estate agent) clients know what to expect after accepting an offer on their Portland Home. Stephen FitzMaurice, Licensed Broker in Oregon with Premiere Property Group, LLC
buy my stuff on grailed :, ) https://www.grailed.com/kevinlovesrice ~~~~~SOCIAL MEDIA~~~~~ Instagram: @kevin.img Tumblr: @edgiestkoreanaround Grailed: https://www.grailed.com/kevinlovesrice ~~~~~MUSIC~~~~~ Music by Tecchi ( https://soundcloud.com/tecchii ) I DO NOT OWN ANY OF THE MUSIC USED IN THIS VIDEO. ALL RIGHTS, ETC GOES TO THE ORIGINAL CREATORS. PLEASE DON'T SUE ME. I'M A POOR COLLEGE STUDENT #SOS
Views: 74822 Fashion Forward Always
Pros & Cons of Accepting an FHA Offer
Tom Brandt of Keller Williams Realty, Inc. & Nick Memeti of iLoan discuss the Pros and Cons of accepting an offer from an FHA buyer! Need real estate help? Contact us! 📩 www.marketoverdrive.com/contact 🎥 FB LIVE Thursdays @ 5:30pm CST ▶️ Watch, Share, & Subscribe on YouTube 🎙️ WGN + 🎧 Podcasts on www.wgnplus.com Hosts: Karla Mina & Nick Memeti Market Overdrive is one of the nation's premier real estate and mortgage talk shows exclusively on WGNRadio.com! Hosts Karla Mina (Coldwell Banker) and Nick Memeti (Founder of iLoan Home Mortgage) have a combined experience of over 30 years and billions of dollars of real estate closings they've been instrumental on! Week after week the #ModSquad is comprised of it's hosts and some of the industries top producing agents, loan officers, builders, investors, attorneys, insurance agents, home design specialists, appraisers and much much more! The ModSquad's goal is to connect directly with the consumer and provide a completely free educational forum for everyone to raise their real estate IQ! You can watch us live on Facebook every Thursday or subscribe to our podcast channel on iTunes Podcasts or our YouTube channel. www.MarketOverdrive.com To Elevate Your Real Estate IQ further, tune in Thursdays at 5:30pm or visit our website: www.MarketOverdrive.com
Views: 11 Market Overdrive
The Backup Offer in Real Estate in NYC Explained (2018) | Hauseit®
The Backup Offer in Real Estate in NYC Explained: https://www.hauseit.com/backup-offer-real-estate-nyc-explained/ Save $20k or More When Buying: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/ A backup offer is an offer that the seller hasn’t accepted, but is strong enough and close enough to the accepted offer that the seller would like to revisit it should the accepted offer fall through. Neither backup offers nor accepted offers are binding in New York, which means that being a backup offer is really just a nice way of saying that you weren’t the winning bidder. How Often Do Backup Offers Get Accepted? Backup offers don’t usually get accepted in NYC. That’s because listing agents generally do a good job in selecting the highest and most qualified bidder, as well as determining who is serious about buying and who is window shopping. With that said, accepted offers don’t mean anything until contracts have been signed, and offers do fall through all the time. Furthermore, because accepted offers nor backup offers mean anything, a backup offer might still not be around by the time a seller comes crawling back to it. The buyer who is the backup offer may be long gone and have an accepted offer on something else! Additionally, there may be multiple backup offers on a house if there was a bidding war or a best and final offer process. As a result, the chances of one backup offer being accepted are quite low even if the primary accepted offer falls through. Should You Agree to Be a Backup Offer? There’s generally no harm in agreeing to be a backup offer. Since none of it is binding, it doesn’t harm you to agree to this as it’s only option value to you. With that said, you shouldn’t give the listing agent or seller the impression that you are desperately waiting, hat in hand, for them to come back to you. Convince the Seller to Send out a Second Contract You can get a head start over the competition by convincing the seller to send out a second contract so your attorney can begin the contract review and due diligence process in parallel with the accepted offer. Though infrequent, this is sometimes allowed by savvy sellers who understand that accepted offers can fall through, and that there are no rules prohibiting sellers from accepting multiple offers and sending out multiple contracts to different buyers. If you’re able to get the seller to accept your offer as well and send your lawyer a contract, then it’s off to the races. The first accepted offer might have a few days head start on you, so your team will need to move quickly to demonstrate to the seller that they made a good decision in letting you take a crack at it as well.
Views: 36 Hauseit
Contingent Offers in Residential Real Estate - Definition and Strategies
Wondering about making or accepting a contingent offer on a property? This video will explain what contingent offers are, how to approach them as a buyer or seller, and some strategies to help those deals be successful. Transcription: Hey everybody. John Collins, San Diego Realtor. I wanted to do a quick video today about contingent offers. What are they, what do they mean for you if you are a buyer or seller, and what are some strategies to make sure those deals go though. Now this is a topic we could spend a lot of time on, but I'm going to try to go through the highlights right now, and I encourage you to ask any questions in the comments below, or reach out to me via my website, BeachRealtySanDiego.com, and we can definitely go into more detail. I look forward to that. OK, first off, buyers, if you're making contingent offers it means that your offer to purchase this property is dependent on you closing on that property. Now, obviously, two escrows, it can make a seller nervous accepting your offer. The way you make sure to keep that fear to minimum and give them confidence that you can come through, is make sure you are as far along as possible in that first property's sale. So, don't put in contingent offers to buy if you haven't even marketed your property yet. Make sure you're on the market, that you have a read on the activity at least. Preferably you're already in escrow and you have an end date in sight, because that is going to give the seller who is accepting your offer a lot more comfort. Also, you can throw in some bonuses for the seller. Let them know you'll take care of things that often are put on their side. Things like home warranties or inspections. This doesn't have to be a big ticket item but it can give them some comfort and trust, and just say, 'hey, I realize you're doing me a consideration to give me this flexibility, this is what I'll do for you'. On the seller's side; same thing applies. Make sure you're as far along on the purchase of your new property as you can be. If lending allows you be in escrow, great. If not, make sure that you at least have your preapprovals worked out and that you know where you're going to be shopping, and that most of all you are up front with the buyers that are coming in and set the proper expectation. There are plenty of buyers out there who are happy to be flexible on the timeline, but if you don't make that story clear up front it can cause some headaches down the road. A second thing that I really advise all my clients to do is add a kickout clause. This says that yes, we're going to contract with you, Mr. Buyer, but if another buyer comes along and gives us an offer you need to be able to give them time to perform, and if they can't then they can get kicked out. It prevents you from getting stuck in a contract with a buyer that drags on and on and on. Which is something you never want to be dealing with. I hope this is all really helpful. Again, hit me up with questions in the comments below, or via my contacts on my website, BeachRealtySanDiego.com. I welcome that opportunity to help and I thank you. Have a great day in America's Finest City, and I'll talk to you then.
Buying a House (Knowing When to Walk Away!)
In today's real estate faq's video you'll learn about buying a house and knowing when to walk away! Of course, you should absolutely be committed to following through and committed to the house you write an offer on. That being said, sometimes things pop up unexpectedly with a house during the closing process. (i.e. home inspection, low appraisal, etc...) So a great question to answer beforehand is how to know when to walk away from buying a house. Know when to walk from a house negotiation now will actually help you look a bit closer at the homes you like best are considering making an offer on. By knowing what to look for and questions to consider prior to making an offer you'll be able to know the answer to the question, "can you get out of a home purchase agreement." Again, I'll stress the importance of being committed to the offer and not looking for ways to get out of purchase agreement simply because someone becomes wishy washy. In many of the videos I've made for buyers from how to make an offer to what is escrow, etc... I share it IS NOT prudent to remove contingencies when buying a home. (i.e. home inspection, appraisal, financing, etc...) Here's why... What happens if you need the inspection contingency walk away clause to get out of the contract if the home inspection uncovers nightmarish issues with the roof, foundation, or other major issues. We're not talking about the obvious little things which normally comprises the majority of a home inspection report like: crack in stucco, needs paint, socket not working, leaky faucet, etc... All of that stuff is simply normal home maintenance issues and doesn't cost a lot to fix. We're talking when something really isn't right and you may not be able to fix it even if you wanted to after closing. Know when to walk away from a house after inspection will save you much drama later on in the closing process. We're also talking about a low appraisal situation when you may want to come to the price or meet in the middle but simply may not have the financial wherewithal to do so if the seller either does not have the range to sell for the appraised value or is foolishly greedy and doesn't budge off the price. Then what? Both cases highlight the importance of having an appraisal contingency in place. To get the most of this video, watch it start to finish and share your questions & comments, about when to walk a way from a home purchase with our community below. Thank you. To get honest information the next time you're buying a home or selling a house contact a great local trusted real estate advisor. If you want help finding one of the best real estate agents in the nation, a CRS please let me know. I'm here to help! If you want to know more about Las Vegas real estate, please let me know. I'm happy to help! Thank you for watching! =) Enjoy an amazing day! -Your Real Estate Geek, Andrew Finney Contact info: Andrew Finney USMC Combat Veteran/ Real Estate Consultant License #S.0173260 Call/ Text: 702-710-0287 Email: [email protected] https://www.andrewfinneyteam.com/ BHHS, Nevada Properties 7475 W. Sahara Ave. Suite 100 Las Vegas, NV 89117 Designations- Certified Residential Specialist (CRS) Accredited Buyer's Representative (ABR) Sellers Representative Specialist (SRS) Certifications- Military Relocation Professional (MRP) Awesome Music Courtesy of: Song: Syn Cole - Feel Good [NCS Release] Music provided by NoCopyRightSounds. Video Link: https://www.youtube.com/watch?v=q1ULJ92aldE Download this track for FREE: http://bit.ly/SynColeFeelGoodDL
Views: 5844 Andrew Finney Team
Backup Offer on Florida Real Estate
Did you know a backup offer is when a home seller has ACCEPTED an offer from a buyer, but is still accepting offers from other buyers. Sellers state that they are accepting backup offers if they think the current offer may fall through! http://www.titlerate.com Independence Title Kevin Tacher 954-335-9305 [email protected] This video publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is produced with the understanding that the publisher and author are not engaged in rendering legal, accounting, financial, investment, tax or other professional services. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. By watching this video you agree to hold the author and publisher harmless for any acts that might result as a consequence of watching this video. Please consult with your attorney, CPA, financial advisor and other professional advisors relating to acting on any information contained in this video.
The Multiple Offer Process
For more articles & videos: http://www.tylerharman.com Welcome to the Real Estate Black Book - Buyer Edition. Today we're going to talk about the Multiple Offer Process. Now, you're probably thinking, obviously it's the person who has the highest price that gets the house, right? … Not true. I've beaten higher prices and I’ve beaten all cash offers. Here’s the first point: Your agent can either GET the deal for you, or can KILL the deal for you. I've seen both sides. When I’m a listing agent, I get buyer’s agents who call and start arguing with me in the first few minutes! Think about it... If they're already arguing with me, just imagine how messy this gets once we open escrow! Happens more than you think, by the way. On the other hand, Sellers also have to watch out for buyers agents who agree to anything just to get the house... It's really funny how fast they change their tune at the first sign of trouble. A few leaky sinks and they’re ready to back out of the deal completely. It’s crazy. So, what can YOU do as a buyer to get the house? First, you need to be working with ONE agent. There are a million reasons for this, but let’s just cover a few today. Some buyers think writing an offer with the listing agent is going to get them the deal. I call these buyers “Listing Agent Groupies”. But if these agents as ethical like they should be with multiple offers, they don’t represent both sides during negotiations. They'll usually bring in another agent to help negotiate for the buyer. So if the listing agent refers you to another guy, not only are you NOT getting the “inside deal”, but you have no idea how many other buyers that agent is representing. He could be writing offers for 2-3 other buyers on that same house. But if you DO happen get the deal with through the listing agent directly, odds are that not only were you the highest offer, but you were probably MUCH higher :-) That's because the listing agent's allegiance is to his seller. Not you. You need your agent to sell YOU as a person as much as he sells your offer: "I've been working with Ricky for 3 months, he's got his head on straight, very reasonable, written a few offers, but this is the home he really wants." And then follow up like crazy to keep your offer front and center. Second, Besides having a loyal agent, you need a rock star lender… Most decent agents send a "Pre-Approval Letter" with the offer, but usually never elaborate on it and talk about the strong points. Know what I do? I usually have my lenders personally call the listing agent. Good agents will appreciate this for one big reason… The only thing more important than getting the highest price possible, is finding the buyer that will ACTUALLY close. When Sellers are reviewing offers, it can be super stressful to look at a bunch of random names and prices and try to figure out who’s Solid and who’s not. If your lender is a rock star, and you ADVERTISE that fact, your offer is as good as cash. I've had my lender make such a good impression on the Seller one time, they actually used him to get their loan on their NEXT house! Last thing... After buyers send in their offers, one of two things will happen: The sellers will either accept one and open escrow… or they’ll send back a "multiple counter offer". Most buyers assume they’ll get a counter offer, so they just throw a number to get their foot in the door... I like to use the multiple counter offer as a listing agent because you never know who is going to step up. Sometimes it's the “little engine that could” that ends up coming WAY up and beats everybody. You just never know! Other listing agents don’t do that. They have a hard of enough time answering their phone on the weekend, so sending back multiple counter offers is way too much work! For that reason, it's not a guarantee. More and more, I'm seeing Sellers pick the best offer during the first round... Like I said, it’s not always about price. This means you need to come in STRONG... right out of the gate. Get that price up, shorten those contingencies, and get noticed. But There’s only one way to do this… and that's to write with CONFIDENCE. This means you better know the neighborhood, where the prices are headed, and know the comps... Notice I said KNOW the comps, not ask your agent about them. Have you been inside any of the comps to really understand the prices? If you haven’t seen them or are at least familiar with them, it’s like comparing two bowls of spaghetti just by looking at pictures. Doesn’t work that way. I could talk for hours on this subject, but this is just to get you thinking. So to recap #1. You need a good agent to make the right first impression for you and keep you front and center. #2. Have a Rock Star lender in your corner to back you up. And #3. Write STRONG offers up front by coming in with total confidence.
Views: 2983 Tyler Harman
First Time Home Buyers Guide - Tips and Advice
This video is essential for every first time home buyer and it's a great refresher even if you've purchased a home before. From searching for a home to understanding the mortgage closing process this video will help you navigate the process like a boss! Want more? Our New Home Buyers Guide Workbook & Course will walk you through all 9 steps of the home buying process. Get them at https://www.newhomebuyersguide.net Here's an overview of everything in the video: Intro - 0:01 What You'll Learn 0:29 Fun Fact - 1:03 I've ABSOLUTELY been right where you are STEP 1 Apply for a Mortgage - 1:32 Get preapproved before you go house shopping STEP 2 -Make An Offer - 4:29 Price & Contingencies - Offer, Counter, Accept STEP 3 - Escrow Period - 7:07 Period between Accepted Offer and Closing - Secure A Mortgage - 8:08 - Home Inspection - 8:51 - Address Contingencies - 10:07 - Get Insurance - 10:38 - Closing - 12:32 Closing Costs - 13:27 Monthly Mortgage Payment - 15:45 - Principle - 16:30 - Interest - 17:00 - Escrow Account Contributions - 17:41 Rookie Mistake - 21:17 Outro - 22:28
Views: 374939 Shine Insurance
What is escrow?  Managing the buying or selling of a home.
What is an escrow? An escrow is when something of value is placed into a trust with a 3rd party while conditions to an agreement are satisfied. So if there’s a large transaction with a lot of components to it – it would be very common to open an escrow and have deposit money held there while everyone does their prep work to complete the transaction. Which is exactly the case for a home purchase. When Does Escrow Start? When you find yourself with an accepted offer, you are in contract (that’s how it’s referred to), to purchase or sell a property – deposit money is then sent to an escrow company where it’s held while the buyer and seller do their prep work to arrange for the final sale. At which point, when everyone has done what’s required of them, the escrow officer will make sure that the transaction closes properly with each party getting what they were expecting from the contract. Practically speaking in a home purchase, an escrow is that period of time (and all the things that are supposed to happen during that time) between an acceptance of an offer and the closing and getting keys. Where the buyer is now the new owner of the property. And all the steps that occur in between those two time frames. There’s actually a lot of things going on and that time frame is typically 30 – 45 days. That would be very common – especially if there is a loan involved. Thirty days would be a relatively fast, but doable, period for escrow. Forty-five days gives everyone a little bit more time. But you will find that’s the time frame for all of the things to occur once you have an accepted offer. What Happens During Escrow? The sequence of events would begin with opening escrow. This means finding an escrow company that would manage the transaction. Placing the deposit in escrow so that money would be held during that escrow period – while the transaction is being processed. The buyer will have responsibilities now to arrange financing. They probably have quite a bit prepared – but now that there’s a contract in place and an open escrow there’s a lot more things that the lender will do to make sure that the loan will be secure. The loan is one of the larger responsibilities of escrow for the buyer. There’s also going to be disclosures. The seller is required to disclose everything they know about the property. So there will be a lot of reports describing the property, perhaps the natural hazard disclosure report. The seller is going to fill out some forms describing what they know about the property including things that may be wrong or in need of repair or that would just be objectionable to any buyer. The seller needs to prepare those disclosures and get them to the buyer. The buyer needs time to review all of the disclosures. The next step would be inspections. The buyer’s going to do variety of inspections – a home inspection, a pest inspection, etc. And from that you might find other inspections that you would want to do if those raise any red flags. For example, if the home inspection points out some water damage or something wrong with the roof – you might arrange for additional inspections. So those things all happen during that escrow period. Moving Toward Closing At some point during escrow – you’ll take that next step forward – the buyer would release contingencies. This makes any deposit monies non-refundable. That gives the seller some confidence that there’s no backing out without some kind of penalty. This also helps the buyer prepare because they have to plan on packing up and moving out. The seller is going to arrange to make sure they can deliver clear title. A title insurance company is going make sure there’s no claims, or clouds, or issues related with title. All of these things are happening during that 30 – 45-day escrow period. So escrow is really just the period of time where you now have the buyer and seller in agreement through the transfer of ownership and the handing over of keys – and all of the things that are going on during that time frame. LESSONS LIST Find a home, plan to stay Contract Contingencies Asking the seller to pay closing costs. What Does "As Is" really mean? What is "escrow" all about? Writing Offers How Much Home Can You Afford? Long Term Housing Outlook Multi-Family Housing You can buy a house, but you have to make a home. Closing Costs Is Home An Investment Home Values Appreciate With Inflation
Views: 5044 HomeOwner University
San Diego Real Estate: How to Get Your Offer Accepted In Today's Market
In today’s market, there are a few things you can do to ensure your offer is accepted. The first is to work with a professional Realtor who understands the market. The market varies in different price points and different neighborhoods, and your Realtor needs to be able to write the correct offer for your dream property. There are a few other things we recommend that will help you write a strong offer. To learn more, watch this short video. www.triolorealty.com/blog/how-to-get-you-offer-accepted-in-the-san-diego-market/ Selling your San Diego Home? Check out our free home value report: http://darintriolo.triolorealty.com/sell/ Buying a San Diego home? Search all homes for sale: http://darintriolo.triolorealty.com/buy/ About Me: “You can have everything in life you want if you will just help enough other people get what they want.” – Zig Ziglar This givers gain philosophy is one I have strongly embraced throughout my life. In fact, I credit much of my success to my passion for serving others and connecting those with needs to excellent resources. These core values partnered with my strong negotiation skills, attention to detail, and extensive transactional experience have allowed our team to achieve clients’ real estate goals while developing long lasting relationships. As a Keller Williams Realty agent since 2003, and President of Triolo Realty Group, I am committed to being a leader and mentor within my organization, the real estate industry, and my local community to support those in pursuit of personal and professional growth. Darin Triolo, Agent CA BRE #01376927 Keller Williams Realty, CA BRE #01295699 Keller Williams - Triolo Realty Group 3965 5th Ave. Suite 300 San Diego, CA 92103 Phone: 619-546-9100 -Transcription- There are a few things you can do to make sure your offer is accepted in today’s market. Here are four specific tips. 1. Work with a Realtor who understands the market. The market is not responding in the same way in all price points in all neighborhoods. You need to work with an agent who understands that if there is low inventory and high demand, your offer should be at or above list price. Conversely, if there is a lot of inventory, your Realtor should know to be more aggressive with the initial offer. 2. Get pre-approved for financing. This is just as important as working with a knowledgeable Realtor. The seller wants to know you’re financially qualified to purchase their home. We highly recommend you get pre-approved. Submit a loan application, get a credit check, and line everything up with a lender. The lender should have good name recognition in the industry. You want a lender who will help sell your offer to the seller. 3. Provide proof of down payment funds. Again, this helps build a solid offer package so the seller has no questions about your ability to close on the deal. 4. Have a clean and well written offer. Check all the required boxes, sign and initial in the right places, and that the terms and services have been pre-negotiated. Present an offer the seller can accept. These four elements are crucial to presenting a winning offer. However, there are a few other things we do to make your offer stand out. For example, as your agent, we provide cover letters for you to provide the seller with a little background. We also may ask you to write a cover letter. Tell the seller your story and consider including pictures. Your letter helps make an emotional connection with the seller. When we submit the offer, we also copy your lender on the email. We then have the lender follow up with the listing agent to assure them you are able to get the deal done. The lender will also reassure the listing agent we are quality real estate agents to work with. Working with a professional, courteous Realtor gives you an edge, because extra-aggressive agents can be an indicator that the escrow process might not go so smoothly. If you have any questions, give us a call or send us an email. We look forward to hearing from you.
How long should an offer to purchase be open for seller acceptance?
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