Real Estate Contracts - What You Need to Include

Real estate contracts are vital to the selling of property. Signed and written documents are important to legitimize these deals between two parties. One important forms involved is the real estate contract also known as purchase agreement or sales contract.

A real estate contract is needed in the sale or purchase of a home and must be entered into by the parties involved voluntarily. In some cases, the purchase agreement presented by a homebuyer to a seller can already serve as the contract. In the United States, the Statute of Frauds requires that real estate contracts should be in writing to be considered enforceable. However, as real estate laws vary from one state to another, this form may also differ in some states.

The information contained in a contract pertains mostly to a piece of real estate property but it also includes the names of the home seller and the buyer. If you’re in the process of selling your home and are not sure what to include in a contract, it’s best that you consult a lawyer who specializes in real estate to help you with this concern. If you plan to get the services of real estate agent, your agent will take charge of preparing this document.

Specifically, a contract identifies the property involved. Details should include a legal description of the house and the exact address.

The full name of the seller and the buyer or the principals should be on the document. As principals, they are distinguished from the real estate agents who serve as representatives during the negotiation process. The signatures of the two parties should also appear on the contract to be considered legal.

Being a sales transaction, the purchase price of the property must be stated.

Contingencies are normally included in real estate contracts. One of the most common pertains to mortgage calling for the buyer to obtain a loan within a specific timeframe after the contract signing. Home inspection is another contingency required by most buyers. This is to ensure that the property is in good condition without material defects before closing. In some cases, the home buyer may also include an appraisal contingency to ascertain the property’s fair market value. This is useful to the buyer considering that lenders refuse to approve a loan more than a home’s appraised value.

The closing date is usually also specified. This refers to the date when ownership of the property is transferred from the seller to the buyer. However, a separate date may be stated as to the transfer of possession of the house or the day when the owner has to vacate the house.
It’s ideal as well that the closing costs and the parties responsible for paying them be written in the contract. Sellers often shoulder most of these costs as an incentive to their prospective buyer. However, both parties can also agree to split the costs between them.

Notarization is not needed for a real estate contract. What usually requires notarization is only a seller’s signature on a deed as required by many recording offices.

Now that you know the details in a contract, be sure to read and understand carefully all the terms and conditions before signing the document.

Visit: http://www.legalhomeforms.com to view sample real estate contracts and forms.

Get Ready for Your Home Appraisal

Most people should know what their home is worth. If they don't then it would be time to have it appraised without delay. In any case, what your home is really worth is a mitigating factor for deciding the money you should be able to obtain from it should you ever decide to sell. Below are a couple of pointers as to how you could get the most out of a home appraisal.

First of all you need to do your best to remain out of the appraiser way while he is in your house. It could be a temptation to inform the appraiser of all the other homes that are for sale in the neighborhood, or what you may think your house is really worth, but try to restrain your need to do so. It's usually an uncomfortable enough position to have a stranger routing through your house and trying to decide how much it's really worth. And try not to make things worse by offending the appraiser, for any reason. If an appraiser becomes uncomfortable or annoyed for whatever reason, they may have a tendency to rush the job, thus missing important things that may have impacted positively on the final number they arrive at.

Second, make sure you keep your home clean and tidy, and be sure that any maintenance work has been carried out. This is not saying that you have to be able to see your own reflection on the kitchen tiles or anything like that, but a cluttered or untidy home will make it easier to overlook aspects of the house such as how safe the interior is or how sound the structure of the house is. Make sure you all of those leaky faucets are fixed, loose carpet squares glued down and anything else that may lower your homes impression to an appraiser. If you decide to move but are planning on leaving some of the appliances behind, ensure they are in proper working condition.

Thirdly, if there has been any remodeling work or rebuilding work done to any part of the house, don't be afraid to mention this to the appraiser. This may not have the effect of raising the value of the house by an equal amount to what you invested in it, but it is vital the appraiser knows all the new parts or areas of the house and what, if any, major problems have been repaired, etc.
These are only three pointers for you to make the experience an altogether friendlier one and also to make the appraiser's job go smoothly, without ant hitches.

Home Owner’s Insurance

Once you have purchased a home, with the help of your real estate team, you will want to make sure that you have the proper home owner’s insurance. Most lending companies will require that you carry some type of home owner’s insurance for the entire length of the loan to protect both you and the lenders in the case of an accident. Many times, the home owners insurance is chosen during the final closing of your home. This is to protect both your assets as well as the lending companies’ assets. Choosing the right home owners insurance will ensure that you are protected against any type of natural disaster or accident that may happen.

Home owners insurance is divided into many different categories with all of them being beneficial in different situations. You will have to decide what type of coverage is most important to you. The easiest way to do this is to first add in how much you own and the value of your home. This will allow you to choose a policy that will cover all of your current expenses and that you will be able to receive some type of return on everything that you already own.

Another factor that you must consider when you are purchasing home owners insurance is the different types of coverage that are offered. Many companies will have several different categories of insurance that you can choose from according to the types of things that you currently own and how this relates to what you will need replaced in the event of an accident. Once you have determined the value of all of your possessions, you will then want to add in what you know you will want covered and then determine which category of insurance this will put you into.

Purchasing home owners insurance is one way that you can ensure that your real estate investment is covered in the event of an accident. If something does happen, you will have peace of mind knowing that your property and possessions can be repaired and replaced and you will be able to move on with your life.

More Home Selling Tips

What Is Involved In Making An Offer On A Home?

An offer to purchase is a written document submitted by a prospective home buyer to the seller of a residential property. This legal document is executed once an individual is bent on purchasing the home he or she would like to live in or would like to have as an investment. But the process only begins there as negotiations between the seller and the buyer will still be involved to make sure that every detail is to their liking.

When a homebuyer has set his or her eyes on a certain property, he or she may work with a real estate agent and fill up a purchase offer form or make one themselves that will be based according to their terms and conditions. If a buyer doesn’t want to get an agent, he or she should consult with a real estate lawyer on this matter.

In the U.S., real estate laws vary from state to state hence, it is advisable that a buyer check out the standard form in his state. Learning about this legal form beforehand is the right thing to do as it will help one understand the items that need to be specified in the document. See "Selling a Home in Your State"

In writing a purchase offer, one of the important things a buyer needs to include are the fixtures that he or she wants to stay or get rid of in his future home. Specifically, the fixtures here refer to the things that are attached permanently to a residential property such as kitchen cabinets as well as heating and cooling systems. A house listed with a multiple listing agency would usually state what items the seller wants to sell with his or her house. If there are decorative items that a potential buyer would like to stay, then it should be noted in the offer. Other items that might be included are the outdoor storage buildings, windows, light fixtures and garage door openers.

A purchase offer must be based on the property’s present condition and the items that a buyer expects to be included or rid of. After a seller reviews the offer to purchase, the negotiation between the two parties starts.

Of course, a seller may not totally agree with the buyer’s terms and conditions upon receiving the first offer. He or she may just cross out some of the items not amenable to his terms and should put his initial on the changes. Otherwise, if a seller disagrees with the whole offer, he or she may propose a counter offer.

Apart from the fixtures, other items in the offer that may involve some haggling are the purchase price, the party responsible for paying the closing costs, the closing date and delivery of title and the date the seller needs to move out from the property.

Several counter offers can be exchanged during negotiations but the final contract can only be reached once both parties agree to the modifications in the offer and put them in writing. When the document is signed by the seller and the buyer, the purchase offer becomes legal.


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What to do when you get a Real Estate Counter Offer

By Gloria Smith

The home buying process is not always guaranteed to be smooth and many buyers as well as real estate investors know this. Even though as a potential buyer you have offered a fair market price for the house of your dreams, sometimes homeowners are not readily amenable to it. It is for this reason that buyers and their agents should be equipped with the right negotiating skills that will help succeed in closing a deal.

It’s advisable that even before making a purchase offer, buyers should be properly informed about the vital aspects of the transaction. Find out if the asking price of the home you would love to buy is reasonable enough. Know that a residential property sold at more than 10 percent of its average market value could be considered overpriced. Check too if the house needs major fixing and the cost entailed as well as if the seller is really bent on disposing of his or her home.

So don’t be taken aback if after you have submitted your purchase offer, the home seller makes a second thought and counters your offer. There are even instances when two to three counter offers will be made by the seller if his or her selling price is not met.

Keep in mind that offering a low price is a good option most of the time. Avoid pressures that will make you increase your offer beyond your financial capability. The seller may expect much from you or the real estate agent may be a bit pushy but remember that you are the buyer and the decision is yours to make.

Real estate experts also point out timing is utmost importance when dealing with a counter offer. Normally, the sellers feel they are in control of the transaction if the buyer immediately responds to the counter offer. The negotiation is not giving the seller any stress hence, the feeling of being at an advantage. However, if the buyer gives a little time allowance say a few days or a week after getting the counter offer and informs the homeowner about considering other properties, that may make the seller think twice about asking for a much higher price.

Another strategy is to accept the property in an “as is” basis. This you can do especially if you included a home inspection contingency in your original purchase offer that would give you the right to check the house and request for repairs from the seller. You can keep your right to inspect, though, even if you agree to purchase the house “as is.” And should you find major defects later on, you can always decline to buy the property.

Buyers should know when to accept the offer and this would be if they feel that the counter offer is already closer to their own purchase price. But if in case the price difference is still very wide, then more negotiations will have to be made. Buyers who are more prepared will be able to work it out soon enough. Ensure that you have facts to support your purchase offer such as comparable selling prices, list of repairs needed and estimated costs. In this way, you can be sure that the seller will give you the necessary attention.

Learn more about what is included in a Real Estate Counter Offer to Addendum. Purchase this form for only $4.99.

How to Market Your Home When Selling For Sale by Owner

By Gloria Smith

If you are sellilng your home for sale by owner you may have an easier time now because of the various marketing strategies available to you. All it takes are some research, consultation with the right professionals and the determination to proceed with the transaction whatever the costs. In other words, you can sell your home yourself, but NOT by yourself. You still need some professional advice to help you along the way.

The first step you’ll need to do is to list down the features of your home that will attract potential buyers. Include the number of bedrooms, maybe some special rooms or perhaps a Jacuzzi or swimming pool, the location, the neighborhood and the proximity to public transportation and other facilities. Take photos of the exterior and interior of your home for use in flyers, print ads and web listings.

From there, you can start spreading the word to friends, relatives and neighbors that you’re selling your house. When they hear about this, the news will surely spread to other people they know who may be in search of a new home.

An open house is also a great way to market your property. Do schedule this activity so you can prepare well for the coming of visitors. Of course, don’t forget that “For Sale” sign on your front yard as a way to inform people who drive by your place.

In addition, be sure to cleanup first from the outside to the inside of your home to make it attractive to your buyers during your open house. Rid of all the clutter around the place, organize your furniture and fixtures, repaint walls and ceilings and make the house smell good. Remember that space and a relaxing ambience are vital to most buyers.

Next is to print out flyers or cards and distribute them in public areas. Your flyer should contain important information about your property, a map and one or two photos if possible. You could save some funds if you know how to make them yourself.

If you have extra budget, you can advertise in the classified ad section of your local newspaper. Keep in mind to use catchy words when describing your home and do include photos as well. You can even offer an incentive like a “finder’s fee” for those who can refer a buyer to you.

You can also hold a garage sale if you’re planning to get a little something from your extra and used furniture, accessories, fixtures, beddings and the like that you no longer need. Many people are addicted to garage sales and you just might find a buyer for your home, you never know.

You should contact a real estat attorney and find out what your state laws are regarding selling your home. What disclosures will you need? What are some common contingencies you should include in your real estate contract? Have a qualified attorney give you advice is priceless!

You should also find a mortgage broker or lender. They will help you qualify potential buyers, and can give you an idea of what a payment might be on your house. Buyers want to know first IF they can afford the payment on your home.

Finally, the web home listing service should never be missed. The internet today has become an amazing marketing tool for any item being sold. There are web listing services that you can use for free or for a minimal fee. A user will be provided with an individual web page where all the information and photos can be posted for a specific period of time.

Marketing Techniques - Selling Your Own Home

Home owners planning to sell their property on their own have an easier time now because of the various marketing strategies available to them within easy reach. It’s a combination of using your head and your mouth to successfully sell your home to the right buyer.

Finally, the web home listing service should never be missed. The internet today has become an amazing marketing tool for any item being sold. There are web listing services that you can use for free or for a minimal fee. A user will be provided with an individual web page where all the information and photos can be posted for a specific period of time. Look for a local for sale by owner first. These sites will target the buyers you are looking for. Example websites: Bellefontaine Ohio FSBO, Madison WI FSBO, FSBO Sonoma CA. Search google for FSBO your city or state.

Tips for Selling Your Home During the Holidays

Many people think it’s not a great time to sell a house during the holidays. One of the reasons is that everybody’s too busy shopping for gifts and food, and preparing family dinners. But real estate experts point out that home sellers should not be discouraged in putting their house on the market in the November and December.

Did you even know that homes for sale get the best exposure during the holiday season? So that means these last two months of the year are very ideal in selling a house as these are times when more new properties come into the market. This is despite the fact that February and March are the months that produce the biggest volume of home sales.

In determining the number of home sales in a year, the real estate sector usually uses an indicator that measures the percentage of sales against the total volume of new properties on the market. According to the industry’s analysis, the months of November and December have an indicator 75 percent higher than the other months. This means that they have the highest possible amount of sales in relation to the number of new homes on the market and this further translates to a bigger chance for exposure in the first month a property is listed on the market.

An explanation to this high potential for exposure is that there are fewer homes listed as “new on the market” during November and December. With less competition for sales, a home that gets listed during the holidays get more exposure compared to other months of the year. So, it’s really a misconception that selling a home during the holiday season won’t produce positive results.

Here are some things you can do to increase the chances of your home being bought during the closing months of the year.

Surely, you will be decorating your house with Christmas trimmings but make sure that the spirituality of your decors is neutral for potential buyers. Avoid too much decoration as well to maintain the focus of your house to its best features.

Some experts recommend not putting up Christmas trees and very large decorations that take up too much space. Remember that homebuyers are attracted to a spacious and well-organized place to live in.

When you have scheduled visits, it’s best that you turn off Christmas lights and other lighted decors so potential buyers can focus well on the property. Before that, ensure that you clean your front yard, porches and all rooms in the house by removing snow, leaves, trash bins and all types of clutter.

Should you be successful in selling your home and want to close the deal near a holiday, verify with your real estate agent, title company and lender about the necessary documents and funds. Normally, the verification process requires two business days before closing. Select a closing day as well in the middle of the week to give allowance for possible delays in the processing of the mortgage loan, insurance and title.

Again, it is not true that November and December are unproductive months in homeselling. If you are confident and prepared enough, there’s no reason why you can’t be successful in selling your residential property.

Selling Fsbo How Much do You Really Save?

Selling your home for sale by owner or FSBO can be a great way of to save money. Even if you are selling your home yourself you will still need to spend some money. Lets condiser some the costs:

Approximate Costs (Services will vary by state)

Appraisal by a certified appraiser $250-500
Listing on the Flat Fee MLS $300
For Sale by Owner website listing (online ad) $100
Real Estate Forms $15
Consultation & Advice from an Attorney $400-800
36 classifieds ad in a newspaper $1125- ?
Flowers & Food for 12 weekends of open houses $240
Printed Flyers $50-$100
Flyer Box $20
Custom FSBO Yard Sign & Directional Signs $100


You may have more or less costs associated with selling your home. A real estate agent usually charges 5-6% of your home's selling price. For a $200,000 home that could amount to $12,000.

Home Staging Turn Your Humble Home Into a Model Home

Realtor, Broker, and real estate expert Susan Botticelli takes you through a home and shows before and after pictures. This home was staged without using a penny, using furniture the homeowner already had. She takes you from the living room, kitchen, and even the garage.

Selling Your Home in a Crappy Market

Great video, marketing tips for selling your home, advice on a home warranty, questions to ask a realtor, pricing your home, and more.

Can You Sell Your House in 5 Days?

Here is a video from Good Morning American & real estate pro Barbara Corcoran showing us simple improvements and selling tips that can make a big difference when selling your home yourself. Great before and afer shots. They have 7 days and a shoestring budget. Will they be able to sell their home?

Selling Your Home in a Slow Market

By: Gloria Smith

There are always ups and downs in the real estate market. If you are selling your home it is important to know what type of market you are going to be selling in. Take a look around your neighborhood. Are houses selling fast, or staying for sale for months?

Just remember the basics of selling a residential real estate property. With so many houses up for sale, think about making your home a standout from the others. This should be a priority. You need to keep your home in good condition before showing it to prospective buyers. By this, we mean fixing things that are not working well like your electrical, air conditioning and heating systems, repainting walls and ceilings that don’t look good anymore, cleaning your front and back yards as well as all the rooms inside the house and getting rid of the clutter. Keep in mind that a well-organized home promotes comfort and creates more space.

After you’re done preparing your home, be sure to set a fair market price. Avoid overpricing in a slow market when demand is low. What better way to do this is to find out the sales of comparable homes in your area during the past six months. This is what they call a market analysis. You can get information on this from your local county’s assessor or through its website. You may also consult a real estate agent you know if you’re still in doubt. Real estate experts even suggest to underprice your home by at least five to ten percent to attract more buyers. This strategy can lead to multiple bids and hopefully, to even a higher sale price than your estimated home value.

Offering incentives to buyers is another attraction. These incentives can include adding personal items in your home’s sale, covering the cost of repair to major appliances that breakdown within a year after the sale and paying the closing costs which normally is about three to six percent of the sale price. Another incentive that is gaining ground pertains to seller financing. This means that a buyer makes a big down payment of about 20 percent and then borrows the remainder directly from the home seller instead of getting a bank mortgage. The seller then gets paid by the buyer on a monthly basis and with a rate higher by about one percent compared to the bank’s charges.

Finally, don’t forget the marketing aspect. Have your home listed on various sites on the internet that offer free listing service and include a photo as well. Inform other family members, relatives, friends, colleagues and real estate agents you know about your home being sold and distribute flyers in public places in your locality.

Sell Your Home on Ebay Online Auction

One of the newest ways to advertise your home online is listing your property on eBay. Ebay offers you excellent advertising coverage for your property on the World Wide Web. The exposure really can’t be beaten. Ebay is a very popular site, and the exposure your home gets, cannot be matched.
There are now over 4,000 homes listed on ebay You can conduct an open house 24 hours a day, 7 days a week. The insertion fee is $150 for a 30 day ad, or auction listing.
Selling your home on ebay is simple, take the first step and register today for FREE

Your Negotiating Skills and Selling Your Own Home

Negotiations are vital in any financial transaction. Whether you are a buyer or a seller, it’s essential that you know how to ask for the most appropriate terms and conditions that are best for both parties involved. If you’re a homeowner who is selling your home by yourself, it’s praiseworthy if you know how to negotiate well without offending potential buyers.

A successful negotiation concerning a real estate transaction entails knowing the basic negotiation techniques, the motives of the other party and adapting to their

The key to a good negotiation is being able to communicate your message clearly and effectively to the buyer. Developing a professional attitude without being too emotional about selling your property is as important. If you don’t agree to the buyer’s purchase price, engage him or her in negotiations. Ask for an explanation about his offered buying price if it’s less than your selling price. Did he or his agent checked the prices of comparable homes or did they find any defect in your property?

After considering the buyer’s position, you can then decide to lower a little your selling price. Be able to explain how you came up with your price as well. Make sure your calculations and figures are correct so that by the time you negotiate, you are in a strong position. Consulting with a financial advisor is a good step.

Learn about your home’s true market value. You can do this by hiring a professional appraiser with the proper license and experience to assess your home and give you a real market value. Another option is to ask real estate agents about listing your home for sale. They usually provide a comparative market analysis showing you the selling prices of similar homes in your neighborhood that recently sold.

Also, be open in discussing property defects. Do allow a home inspection if the buyer so desires. If the inspection reveals defects other than what you know, you can lower your price by a portion of the repair cost. But of course, you can always avoid this by maintaining the good condition of your home so potential buyers will not have any reason to offer a low purchase price. Repair obvious defects in your home before putting it on the market. Repaint walls, ceilings, doors if needed, thoroughly clean your home and remove all clutter and organize your appliances and accessories to create more space.

Be prepared to offer a good deal so that prospective buyers won’t need to ask for some major changes in the purchase agreement. You may only have to negotiate on some minor issues like the amount of deposit, the date for your moving out and the buyer’s moving in as well as the personal items included in the sale. Make the buyer feel that he is not spending so much for the house. Once you achieve this, the transaction will most likely have its closing on time.

Finally, negotiate only with potential buyers who have been pre-qualified for a mortgage loan. Don’t waste your time entertaining buyers who are not serious with their offer. You can ask prospective buyers over the phone if they are pre-qualified. Don’t be afraid to ask those who are visiting your house too. There’s never any harm in asking.

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Getting a Real Estate Appraisal

When selling your home for sale by owner, getting a professional home appraisal should be seriously considered. Hiring a professional appraiser will help you to determine the best selling price. Overpricing or under-pricing a home is one of the biggest mistakes fsbo sellers make.

For more information please visit:
Home Appraisal Process

Advertising Your Home The Right Way

In selling any product or service, advertising almost always guarantees quick sales and instant recall among potential customers. This is an effective marketing tool tested and proven for thousands of years now. This is also true in the field of real estate.

When selling your home through FSBO, it really pays to advertise. Advertising is an essential part of the home selling process thus, it should never be ignored. Homeowners should utilize as many advertising tools as much as possible to be able to reach a wider audience. Place advertisements in the newspapers, newsletters, local radio and television stations as well as on the internet through the web listing sites. Another option is to distribute flyers in public places within your neighborhood and schedule open houses. No need to spend so much because a small budget will go a long way in making the people aware of your home for sale.

The internet is one effective tool you can use in advertising your home FSBO. Today, there are numerous websites that offer property listing services for free or for a minimal fee. Just make sure that you include photos of your home. In fact, more than 70 percent of people now use the internet in their search for a home. Various sites even offer more comprehensive services from the start of the listing process to the updating up to the time the home is bought. Many people find this very economical and without hassle compared to dealing with a real estate company.

Good advertising entails not just putting all the information in your ad. It requires a unique writing style and catchy headlines plus photos that should attract the attention of potential buyers. There are certain information that needs to be highlighted such as the home’s key features and the closing lines. But since print advertisements will cost you money, it’s best that you keep your ads short and straight to the point. It should, however, contain the necessary information for your potential buyers.

So where should you begin? Since you are selling your home on your own, you may put FSBO, for sale by owner or by owner in the introduction of your ad. Include the price of your home because buyers are very particular about this.

Always describe the property’s location by stating the specific neighborhood or just the area or town. If you’re home, for instance, is in a popular area, you should include the name. Specify also if it’s near the school, shopping area, public transportation or near tennis courts, parks and golf courses.

An important point to remember is to cite the features of the home. The features should include the size of the house, the number of bedrooms and bathrooms, fireplaces and if it has a big yard. Add also the home’s condition whether it is remodeled, brand new or well-maintained; the construction whether it is made from bricks and frame or stone; and the financing scheme (assume, loan, low assumption, price below appraisal, reduced interest rate).

In the closing part of your ad, include a phrase that will encourage buyers to call. Give potential buyers the reason to call and urge them to do it soon. And of course, don’t forget to include your phone number, webpage address and FSBO reference number..

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Complete For Sale by Owner Package which includes, Real Estate Sales Agreement, Offer to Purchase, Quit Claim Deed, and More. SPECIAL OFFER: Free Home Selling Secrets Guide with every purchase!

Read And Review Your Offer to Purchase Real Estate

An Offer to Purchase Form is a legal document presented by an interested buyer to a home seller. This is no simple document because it actually includes all the terms and conditions of the sale which are mostly negotiable. It is just right then that home sellers focus on, not only a few, but all the terms of the sale.

The home sale terms in the form cover the closing date, the specifics on financing by the buyer, the closing costs and how they will be shared and paid, the items included in the sale and those that are not as well as the various contingencies of the buyer. Some of the common contingencies are for property inspection, appraisal, financing and review of the property title record. For homeowners selling their residential property on their own, real estate experts advise that they thoroughly review the purchase offer after receiving the document.
Evaluating terms

Be sure to evaluate all the terms and conditions before making a decision. Remember that every term can be negotiated so consider your options. If you are amenable to some of the terms, go ahead and accept them but you can also counter the other terms to adjust them according to your needs. It will be helpful if you list the terms and conditions on a separate sheet and make a note beside each of the term to determine if they are acceptable to you or not.
If, for instance, you don’t agree with some terms such as a low price, too long closing date and limited time to move out after closing, you can counter them with a higher price, shorter closing and more time to vacate your home. It’s just a matter of negotiating well and communicating your needs and concerns clearly to the buyer.
Here’s a tip. Read and examine a blank real estate contract to familiarize yourself to the standard and non-standard terms. Understand the special clauses normally written above the signature block as these are used by the buyer to make non-standard demands, to ask the seller to pay certain portions of his costs and to demand a specific date for the homeowner to move.
Important considerations
Before accepting the purchase offer, it’s advisable that you make sure your buyer has been pre-approved or at the least, pre-qualified for a real estate mortgage enough to buy your home. Avoid signing an offer until the buyer has been pre-qualified.
Other things to watch out for include longer time for buyer to get financing, low earnest money deposit, penalty if the seller fails to move out of the home during the specified date and requirement for the seller to pay the mortgage costs of the buyer.
After reviewing the offer, you have several choices. First, you can accept the offer as it is and sign it to become a legal sales contract or agreement. Second, you can make a counter-offer by eliminating the unacceptable terms and providing your own contract with your specific terms. Third, you can reject the offer if you are not amenable to all of the terms and conditions.
When considering the purchase price offered by the buyer, look at it as a whole. Sure the buyer may have offered a price lower than what you wanted but there may be some terms that counterbalance the low purchase price such as the buyer paying for the closing costs or a fast closing.
As for the earnest money, the minimum requirement should be at least $500. There are some homesellers who require buyers to issue an earnest money check before signing the offer. The earnest money is held by a third party such as your real estate lawyer, the buyer’s agent or whoever the two parties specify in an escrow agreement. However, if you know your buyer and trust him, an earnest money may not be needed.
You also have the freedom to accept a second or backup offer if you wish. Just make sure that your second buyer knows and understands that your house is already under contract and that he or she is only next in line.

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Complete For Sale by Owner Package which includes, Real Estate Sales Agreement, Offer to Purchase, Quit Claim Deed, and More. SPECIAL OFFER: Free Home Selling Secrets Guide with every purchase!

FINDING A LOWER COST WAY TO SELL YOUR HOME

Selling your home through the local Real Estate Agent can be very
expensive, but many of us use them because they have local buyers who
frequent their shops to find a property. The current alternative is to
try one of the many national or global internet websites, they are
usually very cheap to list a property for sale, and in some cases they
are even free. But, and there is one, they don't have much (if any)
local traffic e.g. potential buyers
for the specific area in which you are selling your property.

So what is the solution? Do you continue to pay the high estate agency
fees? In short, no, there is a new way of selling properties starting to
emerge. Basically it's the hybrid, in effect the local internet-based
estate agent. One such example is Enfield Estate Agents where
you can advertise local Enfield properties
for sale at a very low cost. This may well turn out to be the
future of local estate agents, we shall have to wait and see.

Landscaping For Better Curb Appeal

One of the most visual elements of any home is the yard and gardens. They may seem to take a backseat to custom interiors and rooms but they play a huge role in a home's appeal. If you are selling your home now is a great time to improve the yard as the weather is fantastic. Keep in mind that the front of your home is ground zero for first impressions. If the home is not attractive at first glance, people may not look any further.
Let's break the yard up into a few different areas; gardens, trees & shrubs and the home itself. Taking the time to bring each area up to snuff is a good investment in your home and can help to sell homes quicker and generate lots of buyer interest.
Gardens - Gardens are one of the easier things you can focus on to improve the look of a home. Start by weeding and removing any old plants that may not be as appealing as you want.Once the garden is free of weeds and old plants, lay down some new topsoil. When thinking about flowers and plants try to pick colors that accentuate the colors of the home, glaring differences in color can be unappealing to buyers. Once the flowers are planted, laying down a mulch can help the garden to retain it's beauty and color, it also stops weeds from coming back.Also, try to consider what climate you are living in and plan your flowers appropriately, some plants will not do well in some climates. Want to try something different? try making a rock garden!
Trees & Shrubs - Trees and shrubs can be the anchor points of a yard. There is nothing like a well-maintained hedge to bring privacy to a yard. Trees need some special mention as their majesty can enclose a yard and give it that special foresty feeling. Evergreens are a great choice for this as they do not lose leaves and maintain their beauty year-round. Shrubs can be utilized to create pathways and areas of respite and tranquility and are easy to maintain. Shrubs can also be an attractive sidebar for driveways.
The Home - Well here is the focal point of the whole property. Attractive homes equal easy sales, there is no two ways about this fact. Take some time and asses your home. Does it need paint? A new roof? Maybe it just needs a good cleaning. Whatever it needs, make sure you do what is necessary to bring the home's aesthetic value up to par. Remember there is a lot of competition out there!
Eric Badgley is a motivated and professional realtor located in beautiful Whatcom County. For information on Bellingham WA real estate contact Eric or visit online at www.belllingham-realestate.net

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When To Go From FSBO To Using A Realtor

When selling a home, it is important to know when to go from FSBO to using a Realtor. The biggest is when you want to sell your house that’s not selling fast enough.
FSBO or for sale by owner can be a great way to sell your home if you have the time and resources to dedicate to the process. However, most of us do not have a great deal of time to sell a home. It also takes money and resources to advertise a home. In order to successfully sell a home, you need both of these covered.
If you have not had a great deal of experience in selling homes, you might find that selling your house can be risky and costly. Statistically speaking, the average home that is offered FSBO usually sells to family or friends. There are a percentage of homes that sell outside of family and friends due to hard work and diligence. However that is usually what it takes to sell a home.
When you are calculating the cost of a home that does not sell in a timely manner, you will see that with mortgage payments, advertising, utilities, and upkeep tend to cost more than the commission a professional would receive. The cost of a Realtor is usually covered in the sale price of the home. Most homes sold by Realtors will sell for roughly $12,000 more.
You will also want to look at the time frame you want to sell your home in. If you have the right tools and connections you will be able to sell your house. Also, if you have enough time for the house to sit while being sold, you will usually sell the house. If however, you do not have a great deal of time to sell your house, you will want to seek the help of a Realtor.
There is a great deal of documentation and legalities that you will need to learn and become aware of. This can make a huge difference in the completion of the closing of a home correctly. If documentation is not completed correctly, there can be time and money loss.
If you do not use a Realtor, you will likely be paying for Attorney fees, and notary fees. Most of the time a professional has these set up for the convenience of their client.
If you want to sell your home yourself, and are determined, there are many tools that may make it easier. You can obtain a market analysis online in order to set a good price on your house. You can make sure that your home has a good curbside view. In addition you will want to make sure that the inside of the house in sin good repair. Finally you can go through some listing services that are available for FSBO.
If after a period of time you are not able to sell your home, it may be worth it to hire a professional Realtor to help you complete your real estate transaction.
The biggest determining factor between using a Realtor and going FSBO, is how fast, how much and how long you are willing to wait? If you have the tools, time and resources you can sell your home FSBO. On the other hand if you do not, it is time to find the help of a Realtor.
Tina Abraham is a leading real estate broker in Wilmington, North Carolina. Tina specializes in selling homes in Wilmington, Greater Wilmington, Pender County and Brunswick County, which are some of the highest demand homes in the world. Visit us for more information on Tina and how she can help you buy or sell Wilmington, NC real estate, or call (910) 790-7484.

Instant Download 60+ Real Estate Forms $14.99
Complete For Sale by Owner Package which includes, Real Estate Sales Agreement, Offer to Purchase, Quit Claim Deed, and More. SPECIAL OFFER: Free Home Selling Secrets Guide with every purchase!