Will a Lowball Offer Offend the Seller?

by Holly Hurd

Buyers want to feel like they are getting a deal and have negotiated the best price possible. Many buyers want to offer so low that there is a strong possibility that the seller will be offended and refuse to negotiate.

No matter how much counseling we do with a buyer, some want to do it their way and insist they know best. I first ask the buyer if they really like the house. I ask that if the seller refused to work with them on the offer and even slammed the door on negotiations would the buyer be sad. 

When offering on new homes, builders want to protect their pricing and many refuse to budge. It is just business. They may negotiate by giving an amenity in the house like better flooring or appliances or adding a fence in the backyard. Effectively this is negotiating with the builder but protects his values and his future building.

It takes educating the buyer on what is happening in the market. In very hot markets prices are going over the list price and there are no concessions being offered by the seller. It is our responsibility to prepare the buyer while we are showing property and to not lead them to believe they can bottom out the offer price.

I have seen sellers greatly offended and that refuse to even counteroffer. They are thinking the buyer is taking advantage or does not value their home. This is a very dangerous course for the buyer to take. Even some of the best negotiating agents cannot bring a severely offended seller back to the negotiation table.

Showing the buyer the market stats lays the groundwork for a good offer. If they still feel like they have to offer a little low, caution them that someone else may beat their price. Tell them they may only have one opportunity to bid and show the seller how much they like the home.

A lowball offer can backfire and fizzle out with no counteroffer. The real risk is that the buyer may lose the house entirely or have to pay even more than the seller may have been willing to take before the insult. It is risky business. Remember there are no trophies for seeing how low you can go.
 

Will a Lowball Offer Offend the Seller?

If the buyer wants to buy the house then let the offer show how much. 

Holly Hurd~
Is a REALTOR with Berkshire Hathaway Home Services
Northville, Michigan 48167
#1 Firm in MICHIGAN
hollyhurd@hotmail.com
Sell / Buy a home in Northville,Michigan register today at:
www.Northvillehomes4sale.net
Holly Hurd ~
Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well.
Please feel free to contact her for all your real estate needs #homerocks#YourHomeNorthville Michigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate#realestatemarket #realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome #buildingahome#buyrealestate #condo #northvillemi #sellyourhome #sellingyourhome#smalltown #shop #bhhs #berkshirehathaway #moveinmichigan#greattimetobuy #puremichigan #SOLD

Advantages and Disadvantages to Selling FSBO

by HOLLY HURD

Advantages and Disadvantages

 to Selling FSBO 

There are a lot of homeowners that choose to sell their home themselves.
There can be pros and cons to this and it's important to understand both of them
before you jump into the real estate market in a DIY sale.

Advantages:

You won't have to pay a real estate agent's commission. However, I say this hesitantly as
you may have to pay a buyer's agent commission. You won't have to pay a listing agent's
commission because there won't be an agent that actually lists

 and markets your home. But, if a buyer were to bring their own agent who wants to fulfill
and facilitate the transaction, 

you may be required to pay a buyers commission to that agent. Of course, you can refuse
 the buyer's offer or ask that the buyer pays their own agent's commission, but you could risk
 losing out on a sale. Related: Can I Buy a Home from a FSBO?

You can sell to friends or family. If you're planning on selling it yourself and you already
have a buyer 

lined up, selling yourself might be a no-brainer. You will want to understand all of the legalities
that come with the

 purchase and sale contract to make sure that both you and the buyer are protected.

There are no immediate timelines. The listing agent you usually sign either a three-month
 or six-month 

contract. There are time frames in place, and if the listing agent brings a willing and able
buyer at full price, 

you must sell to them otherwise run the risk of paying the listing agent a commission
regardless of whether

 or not you chose to sell the house. If you sell yourself, you can take the time to list the
 property and wait for the

 right buyer.

You have more control over who enters your house and the showings. When a real
 estate agent lists your home, 

they will put a lock box on your doorknob. This means that anyone that has a key code can
get into your house and

 view the property. Unless the property is vacant, there is usually an appointment that will be
 set up ahead of time, so 

you are well aware of when a showing happens. If you are the only one listing your house
and you have total control

 over when people see your house and who actually comes in. You will usually accompany
 that potential buyer through 

your house making you feel a little bit more secure about who's viewing what in your house.

Disadvantages

Selling a home yourself is practically a part-time job. There is a reason why real estate
agents make hefty commissions. There's a lot of negotiations; it takes a lot of time to list, present
 the home, marketed to potential buyers and 

buyers agents, negotiate, and keep up with all the legalities and paperwork throughout the transaction.

You won't be listed on the MLS. When you sell a house yourself, you cannot list your
home in the multiple

 listing service for your area. Only agents that are licensed for that area can list a property
 on the MLS. This

 removes 90% of potential buyers. Your buyers would need to come from personal
marketing, road signs, 

and newspaper or online advertisements. However, 90% of real estate buyers check
their local MLS First.

There can be additional costs. It's important to do your own home inspection report.
You don't want to open

 yourself up to accusations that you've not disclosed everything about the property. You
certainly don't want to

 face a lawsuit if problems are discovered later after the home has sold. You will also
 incur appraisal 

fees, services from title and escrow companies and possible attorney fees. This may not
be worth selling the home

 yourself.

You should screen all buyers. Real estate agents that show property take on the
responsibility of showing that 

property to a multitude of different people. It is their responsibility to ensure the safety
and protection of your personal belongings and your property during the sale.

Pricing your home may be difficult. Sellers immediately think they know what their
home is worth but after it has 

sat on the market for several weeks or even months, they may start to evaluate their
estimate. A real estate 

agent is proficient at doing the research necessary with comparable sales and listings
 to come up with an accurate

 price that will not only attract buyers but will pass appraisals.

If all this sounds too much to deal with, this is where a qualified, experienced and
seasoned real 

estate professional in the Columbus area comes into play. Don't mess with the stressful
 and confusing 

negotiations of a real estate transaction by yourself. If you'd like to know what your
 home is currently 

worth or would like information on listing it and how fast it could sell, call our
office today.

Holly Hurd~
Is a REALTOR with Berkshire Hathaway Home Services
Northville, Michigan 48167
#1 Firm in MICHIGAN
hollyhurd@hotmail.com
Sell / Buy a home in Northville,Michigan register today at:
www.Northvillehomes4sale.net
Holly Hurd ~
Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well.
Please feel free to contact her for all your real estate needs #homerocks#YourHomeNorthville Michigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate#realestatemarket #realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome #buildingahome#buyrealestate #condo #northvillemi #sellyourhome #sellingyourhome#smalltown #shop #bhhs #berkshirehathaway #moveinmichigan#greattimetobuy #puremichigan #SOLD

Target or Walmart : It Makes a Difference in Home Value

Do you live near a Target? Then you probably have seen your home appreciate in value at a far greater rate than those who live near a Walmart, although you have higher property taxes. This is according to a study conducted by RealtyTrac, a provider of housing data.

RealtyTrac found that homeowners who lived near a Target and sold their homes in 2015 realized an average 27 percent increase in price since home purchase, for an average price gain of $65,569. Those who lived near a Walmart saw only a 16 percent appreciation and an average price gain of just $24,900. Across all ZIP codes, the average nationwide appreciation is 22 percent, according to RealtyTrac.

Home Values Are Affected
The correlations hold true for home values, and the difference is enormous. Homes near a Target are worth on average $307,286, while those near a Walmart are worth on average $178,249. The nationwide average is $215,921. 

At least the Walmart neighbors get a big break in property taxes, paying only an average of $3,146. Those near Target pay $7,001, much higher than the national average of $4,283.

The study did not address what living near a Nordstrom does to one's home value.

For its analysis, RealtyTrac looked at home values and property taxes for 17.7 million homes and condos in 1,946 ZIP codes with at least one Walmart but no Target stores, and 6.5 million homes and condos in 706 ZIP codes with at least one Target but no Walmart stores.

Holly Hurd~
Is a REALTOR with Coldwell Banker Weir Manuel
Northville, Michigan 48167
#1 Firm in MICHIGAN
hollyhurd@hotmail.com
Sell / Buy a home in Northville,Michigan register today at:
www.Northvillehomes4sale.net
Holly Hurd ~
Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well.
Please feel free to contact her for all your real estate needs ‪#‎homerocks‬‪#‎YourHomeNorthville‬ Michigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 ‪#‎realtor‬ ‪#‎realestate‬ ‪#‎realestatemarket‬‪#‎realestateforsalemi‬ ‪#‎hometown‬ ‪#‎hollyhurd‬ ‪#‎home‬ ‪#‎homesforsale‬‪#‎historicnorthville‬ ‪#‎buy‬ ‪#‎buyingahome‬ ‪#‎buildingahome‬ ‪#‎buyrealestate‬‪#‎condo‬ ‪#‎coldwellbanker‬ ‪#‎northvillemi‬ ‪#‎sellyourhome‬ ‪#‎sellingyourhome‬‪#‎smalltown‬ ‪#‎shop‬ ‪#‎cbwm‬ ‪#‎cbbelieves‬ ‪#‎moveinmichigan‬ ‪#‎greattimetobuy‬‪#‎puremichigan‬ ‪#‎SOLD‬
Coldwell Banker Weir Manuel Blue Matter / The part of the brain that thinks about real estate

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