Archive for April, 2009

Making the Offer

Kathy Riggs April 12th, 2009

I hope everyone had a great Easter holiday and did not eat too many eggs or chocolate bunnies! That last one is hard to do, and while it’s great to have a holiday, today’s world of high technology and instant communication means real estate professionals are hardly ever on holiday…so it’s back to the buyer’s side of the transaction. If you have been following my posts, you know we are in the middle of a series focusing on a transaction from the buyer’s perspective.
So far we have gotten the buyer pre-approved and we have been house hunting. Finally we found the perfect house.
It’s time to make an offer!
And of course the buyer wants the best deal possible and the seller wants the highest price they can get. It wouldn’t be normal if it was any other way. The ultimate goal for any real estate agent is to find just the right house the buyer can purchase at terms satisfactory to all parties involved.
Often real estate agents are asked to “find out what is the lowest price they (sellers) will take.” Real estate transactions just don’t work that way. The buyers must present a written offer to the seller. Agents and sellers know the buyer wants the best deal possible, and just because a particular market has been slow does not mean a seller is going to jump at the first offer they receive. Low-balling offers wastes time and risks insulting the seller to the point they are unwilling to negotiate. While Realtors cannot discuss any price other than the listing price, buyers can ask Realtors to provide then with figures from recent sales of comparable properties to help them make their decision.
When the buyer makes a written offer to be presented to the seller, the seller can accept, reject or make a counter. Acceptance of the offer means the seller has accepted ALL terms of the offer – dates, times of inspections, seller paid closing costs etc. It is extremely important that the buyer understand the terms of the offer and not hesitate to discuss any questions with their Realtor.

on the lighter side
The dream of the older generation was to pay off the mortgage. The dream of today’s generation is to get one.

SHAMELESS PLUG
Have questions about the $8,000 tax credit? Call me at 252-939-2432 or email me at kriggs@kathyriggs.com

Seeing Beyond the Paint

Kathy Riggs April 5th, 2009

I hope you are enjoying my new blog about real estate in Kinston. If this is your first visit you need to know I am posting a series focusing on a real estate transaction step by step from the buyer’s point of view. Previous posts have stressed the importance of getting pre-approved and then meeting with your Realtor.
Once a buyer has their financing arranged and a Realtor to guide them every step of the way, it’s time to get in the car and take a look a few houses.
Most buyers have in mind what they want. For some, the newer the home the better, for others nothing will do but the charm of an older home with hardwood floors, interior arches and a formal floor plan – no matter the size of the house. It is important to communicate your dreams to your Realtor, who is aware of all the houses in your market, not just he ones you see on your way to work or to the grocery store.
Once you have selected which houses you want to see, keep in mind that even if the house matches your criteria, the seller’s tastes and decor may not. It is important that buyers focus on the features of the home and not the decor. A couple that is downsizing and has not had teens in their home for a number of years may do a double take if they see a bedroom painted in the bold colors of the teen’s favorite sports team. And if you are a Duke fan, don’t let the seller’s shrine to Roy Williams and Blue Heaven ruin your vision of a home if the bonus room is just what you need – minus Roy and the boys. Neither colors, nor furnishings can change the size of the bedrooms or the kitchen counter space. Keep your focus on the floorplan and the room sizes to help you decide if this is the house that you will make your home.

on the lighter side
The dream of the older generation was to pay off the mortgage. The dream of today’s generation is to get one.

SHAMELESS PLUG
I have someone looking to buy some property in the Southwood school district in Lenoir County. If you have something that might work, call me at 252-939-2432 or email me at kriggs@kathyriggs.com

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