10 STEPS TOWARDS MAKING THE BEST TRANSACTION 6-10..PART 2

PRIOR TO PRESENTING AN OFFER ASK YOUR REALTOR FOR COMPARABLE SALES IN THE NEIGHBORHOOD. REQUEST SIMILAR STLYE HOUSES,WITH SIMILAR SQUARE FOOTAGE AND THE CLOSED SALES WITHIN A HALF MILE RADIUS FOR THE PAST 6 MONTHS.THOSE NUMBERS WILL GIVE YOU A MEASURE OF WHAT THE HOUSE IS WORTH. ADD A FEW DOLLARS FOR HOMES THAT ARE IN EXCELLENT CONDITION. TAKE AWAY A FEW DOLLARS FOR HOMES THAT REQUIRE SOME WORK. STAYING ON TOP OF THE MARKET WILL ENABLE YOU TO PRESENT A FAIR OFFER.

STEP 7

LEAVE ROOM FOR A COUNTER OFFER.

MOST SELLERS WILL LIST THEIR HOMES ABOVE THE ACTUAL SALES PRICE THEY ANTICIPATE RECEIVING. THEY EXPECT TO ENTER INTO SOME NEGOTIATIONS.WHEN YOU PRESENT YOUR FIRST OFFER ,LEAVE ROOM FOR A HIGHER COUNTER . IN A BUYERS MARKET DON'T BE SHY(BUT BE REALISTIC)ABOUT THE AMOUNT YOUR 1^ST OFFER WILL BE. THROW ALL THE ITEMS YOU WANT INTO THE FIRST OFFER.NOW IS THE TIME TO ASK.

STEP 8

NO GAMES HERE PLEASE.

HAVE A BACK UP PLAN.WHEN YOU PRESENT AN OFFER THAT IS FAIR AND THE SELLER IS HESITANT ABOUT ACCEPTING OR COUNTERING THAT OFFER,CHANCES ARE THAT THEY MIGHT NOT BE INTERESTED IN SELLING. EXPRESS YOUR CONCERNS TO YOUR AGENT AND LET THEM KNOW THAT YOU WILL MOVE ON IF YOU DO NOT RECEIVE FEEDBACK W/IN A FEW DAYS.THERE WILL ALWAYS BE OTHER HOUSES.

STEP 9

CONGRATULATIONS , YOUR OFFER HAS BEEN ACCEPTED.

PUT ALL YOUR DUCKS IN A ROW.CALL YOUR ATTORNEY AND LET THEM KNOW THEY SHOULD BE EXPECTING CONTRACTS.NOTIFY YOUR HOME INSPECTOR AND SET UP AN APPT. IMMEDIATELY,MOST ATTY'S WILL HAVE YOU DO THE HOME INSPECTION PRIOR TO ENDORSING CONTRACTS.ONCE YOU ENDORSED THE CONTRACTS,MEET WITH YOUR LOAN OFFICER AND BEGIN THE MORTAGE PROCESS . IF ALL YOUR PAPERWORK IS IN ORDER MOST TRANSACTIONS WILL CLOSE WITHIN 90 DAYS.

  STEP 10

CLOSING TIME !

48 TO 72 HOURS PRIOR TO CLOSING YOU SHOULD DO A fFINAL WALKTHRU.CHECK OVER THE HOUSE THROUGHLY.MAKE SURE ANY REPAIRS THAT WERE AGREED UPON HAVE BEEN COMPLETED.CHECK IN WITH YOUR ATTORNEY AND DISCUSS MONIES NEEDED TO CLOSE. MAKE SURE TO BRING PICTURE I.D.,CHECKBOOK AND YOUR HOMEOWNERS INSURANCE POLICY. ONCE YOU CLOSED, BE SURE TO CONTACT ALL UTILITY COMPANIES TO TRANSFER ACCOUNT INFO.

RON MOLCHO MANAGING BROKER/OWNER AMERICANHOMES