My team and I focus 100% of our efforts on giving outstanding service, listening to our clients and staying educated on the Philadelphia & national real estate markets. We love to pass along that knowledge on to our clients. Take a look below at some frequently asked questions. You might find a question that you’ve been wanting to ask or an answer that could help you in your buying and selling decision making.
Q. If I get multiple offers on my house, how do I decide which offer to accept?
Multiple offers are a good thing. Still you can make a mistake if you don’t look at more than just the sales price being offered. Carefully weigh each buyer’s offer by considering these factors:
- Is the buyer pre-approved? Never take your home off the market without knowing that the buyer is financially able to purchase your home.
- When do they want possession? When the buyer’s timing fits your preferences, it can make their offer more appealing.
- What repairs does the buyer expect before closing? Even if you are willing to make repairs, think about the time it will take before you accept.
- What items does the buyer expect to remain in the house? Buyers may request to keep appliances or wall-mounted televisions. Factor the cost of replacing these in your next home into the offer before accepting.
Q. How do I get the best home for the lowest price?
Price is only one of several factors to consider when you purchase a home.
- Preferences: Make two lists with one outlining your needs and the other a list of your wants. Compare lists with other members of your family so you are agree on what’s important before you start looking.
- Budget: Get pre-approved by a qualified loan officer before your search to find out what monthly mortgage payment is possible given your debt and income.
- Location: The “best” price is usually not the lowest price. Desirable locations demand higher prices. But communities with higher prices also often retain their value the best.
- Negotiation: Inexperienced buyers sometimes want to “lowball” their initial offer. Too often they end up disappointed for a variety of reasons such as competition with other buyers, a negative reaction from the seller, and the need to start all over again if negotiations fail.
Q. My home has been on the market several months. What can I do to keep it from looking like a stale listing and get it sold?
You may know price can be the most important factor in getting a home sold, but there are other things that can give you a competitive advantage in the marketplace. Three critical steps are:
- Offer incentives: Mentioning in the listing description that you are willing to pay some of the closing costs, repairs or inspections can make a big difference in making your home attractive to buyers.
- Internet exposure: Today’s buyers are searching for homes on popular real estate search websites like www.trulia.com, www.zillow.com, and www.realtor.com. It is critical that the listing is re-submitted to as many sites as possible if the price has changed. (The Mike McCann Team can get your home maximum exposure on these sites!)
- Fresh photos: This is particularly true if your old pictures reflect a different season. Photos from the spring are a red flag to homes in the fall.
Do you have a real estate question you want answered? Leave it down below or contact us today!
