Frisco Texas Mortgage, Real Estate, Events, and more

Real Estate Class in Frisco TX: Get Your Move On

Learn to sell your home 30-45 days in this Frisco TX real estate market. Can it happen? ABSOLUTELY! The average days it takes for Frisco TX to sell a home in 2010 is 89 days.

Sign up for Get Your Move On, taught by yours truly - Loreena Yeo, Realtor® in Frisco TX & Real Estate Broker of 3:16 team REALTY - your locally-owned Frisco TX real estate brokerage.

Learn how to prepare your home for top dollar sale in today's challenging Frisco TX real estate market. Understand the current real estate market conditions and how to sell you home in 30-45 days.

Classes are held at Frisco Athletic Center (9889 Wade Blvd. Frisco TX 75035). Register at the Frisco Athletic Center in person or use the Online Registration process.

Cost is $15 per family.

Saturday January 29 2010 10:00am - 12:00pm
Saturday March 26 2010 10:00am - 12:00pm

 

 

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This information is provided to you by 3:16 team REALTY with a commitment to support the Frisco TX community.

3:16 team REALTY is a locally-owned Frisco TX real estate brokerage that serves buyers and sellers in and around the Frisco TX areas.

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper & North Dallas area communities.

 

 

3:16 team REALTY - Loreena Yeo, Realtor® in Frisco TX Pick up your phone & call today. (214) 783-2210 loreena(at)loreenayeo(dot)com

Check out some of the best values in Frisco TX Featured Homes of the week.
This list is monitored and updated frequently by Loreena Yeo - Realtor® in Frisco TX.

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Content & Photography Copyright © 2011 by Loreena Yeo (3:16 team REALTY)
Originally Posted in Learn How to Sell Your Home 30-45 days in the Frisco TX real estate market

 

With the real estate market these days, even in San Antonio, it seems that no matter how nice your home is or how well priced, you might still get a lowball offer on it. Buyers are hoping to find a seller who is desperate to sell and will cut them a screaming deal.

But if you're a seller on the receiving end of a lowball offer, don't take it personally--it's actually good news. Somebody liked the house enough to go to the trouble of making an offer on it!

So here are some things you should think about, instead of wadding up the offer and pitching it in the trash.

Fielding a Lowball Purchase Offer on Your Home

By Marcie Geffner

Consider before you ignore or outright refuse a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale.

Check your emotions

A purchase offer, even a very low one, means someone wants to purchase your home. Unless the offer is laughably low, it deserves a cordial response, whether that's a counteroffer or an outright rejection. Remain calm and discuss with your real estate agent the many ways you can respond to a lowball purchase offer.

Counter the purchase offer

Unless you've received multiple purchase offers, the best response is to counter the low offer with a price and terms you're willing to accept. Some buyers make a low offer because they think that's customary, they're afraid they'll overpay, or they want to test your limits.

A counteroffer signals that you're willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances that you'd like to take with you.

Consider the terms

Price is paramount for most buyers and sellers, but it's not the only deal point. A low purchase offer might make sense if the contingencies are reasonable, the closing date meets your needs, and the buyer is preapproved for a mortgage. Consider what terms you might change in a counteroffer to make the deal work.

Review your comps

Ask your REALTOR® whether any homes that are comparable to yours (known as "comps") have been sold or put on the market since your home was listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.

Consider the buyer's comps

Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counteroffer information about those homes and your own comps that justify your asking price.

If the buyers don't include comps to justify their low purchase offer, have your real estate agent ask the buyers' agent for those comps.

Get the agents together

If the purchase offer is too low to counter, but you don't have a better option, ask your real estate agent to call the buyer's agent and try to narrow the price gap so that a counteroffer would make sense. Also, ask your real estate agent whether the buyer (or buyer's agent) has a reputation for lowball purchase offers. If that's the case, you might feel freer to reject the offer.

Don't signal desperation

Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home's listing describes you as a "motivated" seller, you're signaling you're open to a low offer.

If you can remedy the situation, maybe by renting furniture or asking your agent not to mention in your home listing that you're motivated, the next purchase offer you get might be more to your liking.

Marcie Geffner is a freelance reporter who has been writing about real estate, homeownership and mortgages for 20 years. She owns a ranch-style house built in 1941 and updated in the 1990s, in Los Angeles.

Published June 10, 2010, and reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Article From HouseLogic.com. Visit www.houselogic.com for more articles like this. All rights reserved.

 

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Smartass, Aspiring Drummer but with no time to practice

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