Susan McPherson, Berkshire Hathaway HomeServices Commonwealth Real EstatePhone: (508) 479-0323
Email: [email protected]
Email: [email protected]
While buying a home might seem as simple as paying the asking price, knowing the ins and outs of making offers is crucial to buyer success. Everything from the terms of your mortgage loan to eventual closing costs can affect the amount you spend on your home, and making the right offer can significantly affect your chances in a competitive market.
Here are some of the basics of making an offer on a house:
Start by searching online listings for properties to view, or book a tour with an agent. The more knowledgeable you can be about the property, its location and history, the more informed your offer will be. And don't forget, your real estate agent can use their expertise to guide you every step of the way.
When it's time to make your first offer, consult your real estate agent for help choosing a starting price. Consider your own budget as well as the local market, home condition and seller situation.
An earnest money deposit is an upfront amount of money included with your initial offer on a house. It's used as a sign of good faith, and also a form of insurance for the seller in case you back out of the sale.
Typically, the expected amount for this deposit is between 1% and 3% of the home's purchase price. However, if you're in a highly competitive market, it can benefit you to offer up to 10%.
A contingency is a provision in your offer which protects your interests in case the unexpected happens between your offer on a house and closing. This allows you to withdraw your deposit under agreed upon circumstances.
One standard contingency example is a home inspection contingency, which allows you to back out of the sale without loss if the inspection uncovers any major problems with the property.
Real estate agents can help you decide what contingencies could work best in your favor. Depending on whether you're in a seller's market or a buyer's market, some strategies might work better than others.
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My goal as a full time Real Estate professional is to provide my clients with the highest level of service. Selling Real Estate demands an agent who is first and foremost a professional able to navigate the challenges inherent in a real estate transaction. I feel that it is important to provide an array of information regarding all of your Real Estate needs in order to achieve your goals. What sets me apart from other realtors is my attention to detail, honesty, responsiveness, local market knowledge and commitment to exceptional customer service, which is validated by my customers’ reviews. You deserve a realtor who can communicate clearly and effectively while also serving as your coach and advocate and who will guide you through every step of the transaction. So, if you're thinking of buying or selling a home in the Massachusetts Metro West area, call me to help make your real estate dreams a reality. I welcome the opportunity to represent you in the sale or purchase of your home.
