Cliff and Cindy Leinonen Team's Blog
In some instances, it may be beneficial to reject an offer to purchase your home. Because if a homebuying proposal fails to meet your expectations, you may want to wait for another offer to come your way.
Reviewing a homebuying proposal and determining whether to reject this offer can be tricky. But we're here to help you evaluate an offer to purchase so you can decide the best course of action and feel confident about your choice.
Now, let's take a look at three tips to help you assess an offer to purchase and determine whether to decline.
1. Review the Local Housing Market
The housing market in your city or town is a major factor in the property selling journey. If you're selling your residence in a buyer's market, you likely face steep competition to sell your house and maximize its value. Comparatively, if you're operating in a seller's market, there may be an abundance of buyers and a shortage of sellers in place.
Take a look at the prices of recently sold residences and how long these properties were listed before they sold. You may want to consider the prices of currently available houses in your area that are similar to your residence too. With this housing market data in hand, you can differentiate a buyer's market from a seller's one and take a data-driven approach to decide how to proceed with an offer to purchase.
2. Weigh Your Home's Strengths and Weaknesses
You believe your home is great, but you also realize that your residence is far from perfect. As such, it often helps to weigh your residence's strengths and weaknesses relative to an offer to purchase and proceed accordingly.
For example, if a homebuyer submits a competitive offer to purchase your home in spite of its exterior damage, you may want to accept this proposal. On the other hand, if a buyer submits a "lowball" offer on your recently upgraded house, you may want to decline this proposal.
3. Consult with a Real Estate Agent
If you're unsure about whether to reject an offer to purchase, there is no need to worry. You can always hire a real estate agent, and this housing market professional can provide comprehensive support throughout the property selling journey.
A real estate agent is ready to help you in any way possible. If you need help listing your residence and promoting it to prospective buyers, a real estate agent can assist you. Or, if you want to find innovative ways to enhance your residence's curb appeal, a real estate agent can provide home exterior upgrade recommendations.
Of course, a real estate agent will work with you to review any offer to purchase your house. You and your real estate agent together can discuss the pros and cons of a homebuying proposal and make a decision that corresponds to your house selling goals.
Take the guesswork out of reviewing an offer to purchase – use the aforementioned tips, and you can decide whether rejecting a homebuying proposal is the best option.
16 Center Depot rd., Charlton, MA 01507
We know that location matters when you’re trying to find the right home to buy, but why? First, buying a home you like in a location that matches your needs is a sign of a solid, long-term investment. Finding the right home isn’t always the answer to your property search woes. Many times, finding a house that needs a little TLC in the right neighborhood can give you a better return on your investment than finding a move-in ready house in the wrong neighborhood. You want to think in terms of finding a home that will be easy to sell if you so choose to sell it. Most importantly, you want to feel comfortable in your home and in your surroundings. What are the signs of a good location? Below, you’ll find the most important things you should look for when searching for a home.
Everyone wants a safe neighborhood, and you certainly know a sketchy neighborhood when you drive through it, but what denotes a neighborhood as “safe”? First, if you see people up and walking around a place, you know it’s a good start to finding a safe neighborhood. People who are outside, interacting with one another give a neighborhood a community feel. You will feel like your neighbors have your back in a neighborhood like this.
the better the school district is, the higher the property values in the area are. If you don’t have kids, this may not be much of an issue for you. However, if you’re thinking that you may want to sell your home anytime in the future, keep in mind that a less than reputable school district can really dip into property values.
You Can Easily Access The Things You Need
If you can access the shops, restaurants, and other conveniences easily from your neighborhood, that’s the sign of a good location. No one wants to have to drive 45 minutes in order to get to the grocery store. Many people who are looking for homes like to be in or very close to the action and have easy access to the things they need. Think in terms of convenience when it comes to location.
A View And Nature
A home with a view is always a sign of a great location. whether you’re near the water or near the mountains, it’s nice to have something scenic and peaceful near your home to enjoy. Property values near the water are also always a bit higher than those further inland.
Access to public transportation is key in many neighborhoods. You want to be able to easily get to and from where you need to go without waiting around. If the area is more suburban or rural, access to freeways and main roads is key. Adding precious time to your commutes is never pleasant. Many times location and commute times come down to a simple matter of balance and planning when searching for a property.
5 Sherman St., West Brookfield, MA 01585