The Mavroules Team - Atlantic Coast Homes



Posted by The Mavroules Team on 7/27/2018

Once you decide to buy a home, you need to buckle in because youíre in for an emotional roller coaster. You need to be prepared for any type of situation. Youíll need to hunker down and save a significant amount of money for a downpayment. Securing the financing for your home will be at the top of your list. You just donít want to find the home of your dreams only to find out that your offer is rejected, leaving you in a giant puddle of letdown. 


If you have already experienced the pain of having your offer rejected on a home, fear not. Below, youíll find some of the most common reasons why offers get rejected and what you can do about it. 


You Canít Afford The Home


If you try and get a house that you canít afford, chances are that your offer will be rejected. You need to find a reasonable price point to shop for a home. Make sure that your real estate agent understands your budget and wonít show you homes that are above your budget. If you know you wonít be able to resist, you definitely shouldnít risk finding a home that you love and is above your budget. 


There Was A Better Offer


Especially in highly competitive markets, itís easy for bidding wars to arise. A ďwarĒ may be avoided if buyers offer an amount far above the asking price. You always want to keep your offer as close to the asking price as possible. Never assume that other buyers will bid lower than the asking price. If you think like a seller, youíll have a better shot at getting the home of your dreams.     

 

Donít Ask For Too Much


Nothing annoys a seller more than too many contingencies. Many buyers can get carried away here. Itís a good idea to speak with your realtor about the reality of what you hope to get in return for purchasing the home. Your agent can help you to figure out whatís a necessity to ask to be done in the home and what isnít. 


You Didnít Get Pre-approved


Getting that pre-approval letter is oh so crucial to finding the right home. The seller wants the process to go as smoothly as you do. That means you need to get pre-approved before you even head into the field to search for a home. Some sellers may also only consider bids made by buyers who have been pre-approved. 


If you do your research, youíll be able to compete in any type of housing market. All you have to do is be prepared!  

  


To get your offer accepted on a home you love, you need to do your homework. As a buyer, you want to keep the needs of the seller in mind. Although you want the best deal for yourself, you're more likely to get a property that you want if you compromise a bit. 





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Posted by The Mavroules Team on 4/13/2018

Ready to submit an offer on a home? Putting together a proposal that stands out in a home seller's eyes is key.

With the right home offer, you can improve your chances of securing your dream house without delay. Plus, dedicating time and resources to put together a home offer that works for both you and a home seller is sure to accelerate your journey from homebuyer to homeowner.

How can you improve your chances of submitting an offer that a home seller is sure to accept? Here are three tips to help a homebuyer submit a standout home offer.

1. Get Pre-Approved for a Mortgage.

In many instances, a home offer may be contingent upon financing. And if a homebuyer has to secure financing after submitting a proposal, this individual could risk missing out on an opportunity to purchase his or her dream house.

Comparatively, a homebuyer who gets pre-approved for a mortgage will have the necessary financing in place when he or she submits an offer. As a result, this individual's offer may stand out from other proposals, particularly to a home seller who wants to speed up the home selling process.

2. Consider a Quick Home Inspection.

Don't ask the home seller for 15 or 30 days to conduct a home inspection. Instead, be ready to conduct a home inspection as soon as possible.

You may need only a few days to set up a home inspection. As such, if your offer includes a request for five or 10 days to complete a home assessment, it may stand out from others.

Also, if you find your dream home, you may want to consider purchasing the house "as is." Doing so may allow you to forgo negotiations between a homebuyer and home seller after a home inspection.

If you submit an "as is" home offer, you will be able to learn about the condition of a property before you buy it. However, after a home inspection, you will be unable to ask the home seller to complete repairs. At this point, if you find the house fails to meet your expectations, you can either walk away or buy the home in its current condition.

3. Add an Escalation Clause to Your Offer.

An escalation clause can help you compete against other homebuyers in a fierce real estate market. It enables you to increase your offer by a set amount over any other bids to a certain level. As a result, including an escalation clause in your home offer can help you avoid the risk of overpaying for a house and improve your chances of securing your dream residence at the same time.

Ask your real estate agent to include an escalation clause in your home offer. Your real estate agent can help you submit the perfect proposal, and ultimately, boost your chances of getting a "Yes" from a home seller.

Use the aforementioned tips, and you can bolster your chances of getting the right house at the right price.





Posted by The Mavroules Team on 8/4/2017

You recently listed your home on the real estate market, and now, you've received your first offer. However, you only have a short period of time to review the proposal and accept, reject or counter it. Determining how to handle an offer on your home can be challenging. Fortunately, we're happy to help you fully evaluate an offer so you can make an informed decision. There are numerous factors to consider as you review an offer on your house, including: 1. Price In some cases, homebuyers may submit a "lowball" offer in the hopes of getting a seller to jump at a quick sale. If a home seller accepts this offer, a homebuyer is able to purchase a terrific home at a bargain price. Conversely, if a home seller rejects or counters the offer, a homebuyer may have an opportunity to reconsider his or her options. As a home seller, you should consider how much you are willing to accept for your residence before you add it to the real estate market. By doing so, you can list your home for a fair price and act quickly and effectively as you receive offers. Also, flexibility is paramount for home sellers. And even though you may list your home for a particular price, you may want to consider accepting an offer below your initial asking price if you're looking for a quick sale. 2. Sale of a Buyer's Home Although a homebuyer may submit an offer that is at or above your initial asking price, the proposal may have strings attached that could slow down the home selling process. For instance, a homebuyer could make an offer that is contingent upon him or her selling a residence within a set period of time. But if this homebuyer is unable to sell his or her house, your home sale could fall through, which could cost you both time and money. In this scenario, consider your options carefully. If you believe you can receive other offers from homebuyers who don't require this contingency, you may be better off rejecting or countering the proposal. 3. Your Timeline If you've already secured a new home and need to sell your current residence as quickly as possible, you may want to consider accepting an offer even if it is below your initial asking price. On the other hand, if you are able to afford two mortgages for an extended period of time, you may be better equipped to wait out a slow real estate market. When it comes to determining whether to accept an offer on your residence, consulting with your real estate agent usually is a great idea. This professional can offer expert resources you might struggle to find elsewhere and empower you with the insights you need to make the best decision possible. Consider the aforementioned factors as you evaluate an offer on your home, and you should be able to accept, reject or counter a proposal with confidence.





Posted by The Mavroules Team on 8/19/2016

The real estate market is filled with many high-quality residences, and after a comprehensive search, you've found a residence that fits your personal needs and budget perfectly. However, you may need to think twice before you submit an offer on this residence. There are many factors that homebuyers should consider before they make an offer on a house, including: 1. Neighborhood Ideally, you'll want to find a home in a community filled with friendly neighbors. But in many cases, homebuyers may focus exclusively on a residence and ignore the neighborhood entirely. Taking a walk around a neighborhood often allows you to get a better feel about what it is like to live in a neighborhood and may give you a chance to meet some of the neighbors as well. Also, a simple walk around the block will provide you with a better idea about whether a house's value may rise or fall in the foreseeable future. For instance, a neighborhood filled with houses with well-maintained front lawns, nearby parks and schools and other local amenities may prosper for years to come, and home values may rise in this neighborhood over the next few years. 2. Crime No one wants to live in an unsafe area, and you can learn about crime near a prospective home before you submit an offer on a residence. Contacting a local police station usually is a great idea for homebuyers who want to find out about crime statistics in a particular area. Furthermore, your real estate agent can provide insights into crime in a specific area and help you determine whether a particular house is the best option. 3. Traffic Although your dream home features all of the amenities you want, it might fail to provide you with quick, easy access to your office day after day. For example, traffic can be a problem if your house is located in or near a major city. And if you need to travel to work every day, it is important to understand how traffic could affect your daily commute. To better understand traffic patterns in a particular area, try driving to a residence at different times during the day. By doing so, you can learn about traffic patterns near a house and be better equipped to make a more informed decision about whether to submit an offer on a residence. 4. Taxes You've been pre-approved for a mortgage and have established a monthly budget for a new home, but taxes may vary depending on where you move. Thus, you'll want to learn as much as possible about potential taxes that you could face at a new residence before you submit an offer. Taxes may add up quickly, but homebuyers who budget accordingly can minimize the risk that they'll fall behind on tax bills. And with support from your real estate agent, you can learn about taxes that you may encounter if you purchase a particular residence. If you're fully satisfied with a residence after you consider the aforementioned factors, you'll be ready to submit an offer and move one step closer to moving into your dream house.







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