negotiations Archives • Your Real Estate Whisperer

Made An Offer On An Ascension Parish Home and Got Countered?

April 27, 2017

Made An Offer On An Ascension Parish Home and Got Countered?

In this current market, you would be hard pressed as a buyer to not get countered if you’re trying to get a bargain on a home. It is a seller’s market, and sellers are less willing to negotiate the listing price downward. It’s possible but unlikely. I just want you as a buyer to be prepared for a counter offer.

Why Was Your Offer Countered?

When you make an offer on a home in Ascension Parish one of four things can happen. The buyer can either accept, reject, counter or simply let the offer expire. (Most offers come with an expiration date). So if the seller counters, there could be a lot of reasons.

Did you offer way under asking price?
Was the closing date too soon or too distant?
Did you ask for too many items like pool equipment, refrigerator, washer, dryer or expensive window coverings that the homeowner treasured
The sellers didn’t want to pay for a home warranty.
You made the inspection period too far into the future.
You asked too much for closing costs.

These are just some of the many reasons your offer could have been countered, so what do you do now?

What To Do When Your Offer Is Countered.

Make sure to review your counter carefully with you Ascension Parish Realtor®. This is when having a REALTOR® at your side is most advantageous to put you, the buyer, in the best position.

Review all your comparables with you, REALTOR®. You don’t want to overpay. Evaluate if you really need those closing costs. Make sure your interests are being protected but you’re still going to win the house. If you see that there are issues with the home you may want to accept the seller’s countered price, and then have them reduce the price after you’ve had the home inspection. It’s important to consult with your Ascension Parish Realtor to make sure that this counter offer “if it’s because of price” will appraise. Have your Realtor® reach out to the seller’s agent to get a better feel for what the seller’s position is. Are they selling because of financial hardship? Or, did the sellers get transferred? These could be great things to know if you’d like to counter the counter offer.

If all else fails, and the counter offers go flying back and forth, you may need to walk away. You have heard the expression, “plenty of fish in the sea?” Well, in the housing market new listings arise all the time and others go back on the market. Don’t get yourself too wrapped up in a home where the sellers and or listing agent are unwilling to be flexible to get the deal done.

“Because YOU Matter”

Your Real Estate Whisperer

Kristina Smallhorn

5 KEY things to know when buying your first home in Ascension Parish.

September 29, 2016

5 ways to get started with the home buying process in Ascension Parish (or anywhere for that matter)

When you make the decision to buy your first home it can be a daunting task. There are a million people that want to give you advice, including people who haven’t bought a home since 1976 and ones that have never bought a home in Louisiana. All states have different rules, disclosures, and addenda that are required. When getting advice, I strongly suggest interviewing a REALTOR® in your immediate area. Below are 5 tips that can help you get started before you jump on the internet to buy your dream home:

The very first thing you need to do is get your paperwork together so you can talk with a lender. I know it’s so tempting to get on a website to start looking up homes for sale, but you can certainly save yourself a lot of heartache by speaking to a lender first. Nothing crushes a new or even seasoned buyer than finding out the home of their dreams is out of financial reach.
Now that you have spoken to a lender and know what your budget will be now you can start combing the internet. There are many great websites including my own that will not only give you great information but can give you the most accurate home listings. Some of the big chain website do not update their websites often, so just because Trulia says it’s for sale, it was actually for sale over a year ago. It’s best to check with your REALTOR® on any home listing before getting your mind set on it.

You found the house, but now who do you call to show it to you. If you have a REALTOR® chosen you call them first ALWAYS! No REALTOR® is too busy to help out their clients. If they are then it’s time to shop for a new one. If you call from the number on the For Sale sign in front yard, know that the agent showing you may be the one who represents the sellers interests only. It’s best to call several offices and talk with a few REALTORS® before you find the one who matches your needs. (or you can just call me)
Now you have found your agent and the home you want, and it’s in your price range. What’s next? Now is the time for your agent to prepare an offer. They will guide you through the contract and show you what other homes in the area have sold for, so you can make an offer that will work for you and the sellers.

Let the negotiations begin- Just because you present a good offer doesn’t mean the sellers will accept your conditions the first time around. You may get a counter offer with a new price. They can change closing dates and various others stipulations. You are not fully under contract until ALL parties have signed on the dotted line, and the deposit check has been presented to the listing company’s office. So don’t drag your feet when negotiating because someone else can come in and get your dream home.

The home buying process is very exciting but can be stressful if not handled by a seasoned REALTOR®. Please take your time to pick your agent as carefully as picking your next home, It can make the experience so much more pleasant when someone truly cares about you and your needs in a home.

“Because YOU matter”
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