Making a good offerWhen coming up with an offer amount, keep in mind that some sellers may get offended with an offer significantly lower than their asking price. Though their selling agent should counsel them not to let emotions get in the way, some people will see your low offer as a personal insult. That doesn’t mean you shouldn’t make an offer substantially lower than the asking price. Perhaps you think that’s the fair value of the property. Just know that you may not hear back from the seller.
Many times a seller receives more than one offer at a time, and it’s up to you and your buyer’s agent to make your offer look as attractive as possible. After coming up with your offer price, you must also determine how much earnest money will accompany your offer. This money is used to show the seller that you are serious about purchasing the home and acts as a “good faith” deposit.
There are other ways to make your offer attractive. Talk with your Texas REALTOR® about the best game plan for making your offer look at appealing as possible.
Courtesy Texas Association of Realtors®
Three tips for first-time homebuyers
If you are considering buying your first home, here are some great pieces of advice to follow when setting out:Understand the lingo. Do your best to obtain general knowledge about the homebuying process and the real estate market. Your Texas REALTOR® can be an invaluable asset to you when starting out. You might also look into taking a homebuyer education course; The Texas Department of Housing and Community Affairs offers classes around the state.
Know the market. The type of market you’re in will dictate the offer you make on a property. Hire a Texas REALTOR® who understands market trends and knows the neighborhood where you are looking to buy. Your REALTOR® can track sale prices in your shopping area and look at comparables to help you make an appropriate offer.
Don’t buy the biggest. If you are purchasing your first home, consider choosing the least expensive house on the best block. Buy into the most expensive neighborhood in the best community that you can afford. Typically, the least expensive home in a desirable area will give you the greatest return on your investment.
Work with your Texas REALTOR® throughout the homebuying process. From helping you find the perfect home to assisting you in understanding complex real estate contracts, you REALTOR® can make your first-time homebuying experience a success.
Courtesy TEXAS ASSOCIATION OF REALTORS®
Tips to follow when house shopping
When shopping for homes, a Texas REALTOR® will show you about seven houses on average per day. That number varies, of course. But it’s a good idea to stay below 10. Any more than that, and your brain could be on overload. While seven properties may not seem like a lot of information to take in, it can be difficult to remember specifics about each one. Below are some tips to help you wade through the details and choose the home that is right for you.
- Bring a digital camera and take a number of photos of each property. You may want to begin each series with a close-up of the home’s address. This way you’ll be able to identify which photos belong to which property.
- Take detailed notes of the home’s features, colors, and other design elements.
- Pay attention to your surroundings. Is the house located next to a school? Is it near the highway? In general, do you like the location?
