Lisa Oleksak-Sullivan's Blog
As a first-time homebuyer, it is easy to feel plenty of optimism as you search for your dream residence. And if you find your ideal house, it may seem likely that a home seller will accept your offer on the residence right away.
However, it is important to remember that a home seller might reject a first-time homebuyer's proposal, regardless of whether this homebuyer submits a competitive offer. In this scenario, a homebuyer needs to know how to move forward and continue to pursue his or her perfect residence.
What should a first-time homebuyer do if a home seller rejects an offer on a home? Here are three tips that every first-time homebuyer needs to know.
1. Learn from the Experience
If a home seller rejects an offer on a house, there is no need to worry. In fact, a first-time homebuyer may be able to resubmit an offer and find out why a home seller rejected his or her initial offer.
For example, a first-time homebuyer may lack financing at the time that he or she submits an offer on a house. But if a homebuyer gets approved for a mortgage and returns with a new offer, he or she may be more likely than before to gain a home seller's approval.
On the other hand, a homebuyer should be ready to move forward with a home search if necessary. Thus, if a home offer is rejected, try not to get too emotional. Instead, a homebuyer should be prepared to reenter the housing market and start his or her search for the perfect home from stage one.
2. Don't Dwell on the Past
For a first-time homebuyer, it can be frustrating and annoying to conduct a home search, find the ideal home and receive a rejection after a proposal to buy the house is submitted. But there is no reason to dwell on the past for too long, as doing so may force a homebuyer to miss out on opportunities to pursue other residences.
Remember, the housing market often features dozens of outstanding houses to match all homebuyers' price ranges. This means if you receive a rejection on one home proposal, you can always restart a home search. And ultimately, a diligent homebuyer should have no trouble discovering a terrific residence, even if his or her initial offer on a residence is rejected.
3. Consult with a Real Estate Agent
A real estate agent is a housing market expert who understands what it takes to submit a competitive offer on a house. Therefore, he or she will help you prepare a fair offer on a home before you submit it.
If a home offer is rejected, a real estate agent can help you alleviate stress. This housing market professional may be able to explain why the offer was rejected and help you plan your next steps in the homebuying journey.
Don't worry if your first offer on a house is rejected – conversely, use these tips, and you can move one step closer to acquiring a stellar residence that matches or exceeds your expectations.
If you want to acquire the best house at the lowest price, it pays to conduct an in-depth home search. In fact, there are many reasons why you should perform a comprehensive house search, and these include:
1. You can define your dream house.
For those who enter the housing market without a clear-cut definition of a "dream home," there is no need to worry. If you perform an extensive house search, you'll be better equipped than ever before to differentiate home must-haves from wants.
Ultimately, the definition of a dream home varies from buyer to buyer. As you map out your homebuying journey, it helps to put together a list of house must-haves and wants so you can tailor your home search accordingly.
Once you determine what you want to find in your dream house, you can assess the housing market and search for your ideal home. Then, when you locate your ideal residence, you should have no trouble submitting a competitive offer and moving one step closer to buying your dream house.
2. You can avoid the dangers associated with paying too much for a home.
Oftentimes, it is easy to attend a home showing and submit an offer on a home. But if you do so without performing housing market research, you risk overspending to purchase your ideal residence.
When it comes to determining the best price for a house, it helps to look closely at real estate market data. This information can help you differentiate a buyer's market from a seller's market, analyze the prices of houses in your city and town and much more. Perhaps most important, reviewing housing market data may enable you to avoid the temptation to spend too much to acquire your dream home.
3. You can reduce the risk of purchasing a home that fails to meet your expectations.
An in-depth home search reduces the risk that you'll be forced to "settle" for a home that fails to meet your expectations. Instead, you can allocate plenty of time and resources to search far and wide for your ideal residence. And if you find your dream home, you can rest assured that you'll be able to purchase this residence and enjoy it for years to come.
Clearly, there is a lot to think about if you intend to buy a house in the foreseeable future. But if you collaborate with a real estate agent, you can receive expert support at each stage of the homebuying journey.
A real estate agent will learn about you and your homebuying goals. Next, this housing market professional will keep you informed about available houses in your preferred cities and towns and set up home showings. A real estate agent will even help you submit offers on houses and ensure you can get the best price on any residence, at any time.
Take the guesswork out of buying a house – consult with a real estate agent today, and you can get the help you need to make your homeownership dream come true.
Are you a productive homebuyer? If not, you may miss out on an opportunity to acquire your dream residence.
A productive homebuyer understands the ins and outs of the real estate market. As such, this individual may be better equipped than others to purchase a top-notch residence at a budget-friendly price.
Ultimately, operating as a productive homebuyer may be easier than you think – here are three tips to ensure that you can become a productive homebuyer in no time at all.
1. Narrow Your Home Search
If you know what you want to find in a dream home, you can maximize the time and resources at your disposal.
For example, if you prefer a home in a big city, you can start searching for houses in the city of your choice. Or, if you enjoy the unparalleled serenity of small town life, you may want to focus exclusively on houses in various towns.
You also should consider your day-to-day activities as you kick off your home search. If you attend college classes every day, you may want to find a house close to school. Comparatively, if you regularly take the bus to work, you may want to consider homes that provide quick, easy access to public transportation.
2. Establish a Price Range
Although you know that you want to buy a home, you may have no idea what it will cost to obtain your dream home. However, if you enter the housing market with a home price range in hand, you can quickly and effortlessly navigate the homebuying process.
Meet with banks and credit unions in your area. That way, you can learn about myriad home financing options and choose a mortgage that complements your finances.
Don't forget to ask bank and credit union professionals for mortgage recommendations and suggestions as well. These mortgage specialists are happy to teach you about many mortgage options and ensure that you can make an informed home financing decision.
3. Work with a Real Estate Agent
A real estate agent is a homebuying expert who will do everything possible to help you optimize your productivity. If you collaborate with a real estate agent throughout the homebuying process, you can increase the likelihood of getting the best possible results.
A real estate agent will set up home showings, negotiate with a home seller's agent on your behalf and help you get the best price on a home. By doing so, this housing market professional will ensure that you can enjoy a seamless homebuying experience.
Let's not forget about the advanced housing market knowledge that a real estate agent possesses, either. A real estate agent understands the challenges of buying a home and will help you identify and overcome these difficulties. He or she will even answer any homebuying questions, at any time.
Become a productive homebuyer today – use the aforementioned tips, and you can maximize your productivity as a homebuyer and reap the benefits of a quick, efficient homebuying journey.
There is no feeling like the one associated with buying a house. If you know how to navigate the homebuying journey, you can boost the likelihood of enjoying an unforgettable property buying experience.
Now, let's take a look at three tips to help you seamlessly navigate the homebuying journey.
1. Create Homebuying Criteria
For those who want to enter the real estate market, it generally is a good idea to establish homebuying criteria. That way, you can focus on properties that match your expectations.
Think about the features you want to find in your dream residence. For instance, if you want to own a house that offers a spacious backyard, you can narrow your property search accordingly. Or, if you want to purchase a residence close to some of the nation's top schools, you can hone your property search to a select group of cities and towns.
You may want to conduct extensive housing market research too. Because the more you know about the local housing sector, the better equipped you will be to find a home that you can enjoy for years to come.
2. Get Pre-Approved for a Mortgage
If you want to buy a house, you likely will need a mortgage. Lucky for you, banks and credit unions are available nationwide, and these financial institutions can help you get pre-approved for a mortgage.
Meet with a variety of banks and credit unions. By doing so, you can learn about all of your mortgage options and select a mortgage that corresponds to your finances.
Also, if you are uncertain about how a mortgage works or require other home financing insights, reach out to a bank or credit union for support. Banks and credit unions employ courteous, knowledgeable mortgage specialists who can teach you everything you need to know about home financing. As a result, you can work with these mortgage specialists to make an informed home financing decision.
3. Employ a Real Estate Agent
A real estate agent is a must-have, particularly for an individual who wants to minimize stress during the homebuying journey. In fact, this housing market professional will do whatever it takes to help you find a terrific home at a budget-friendly price.
With a real estate agent at your side, you can streamline the homebuying journey. A real estate agent will help you establish realistic expectations for a home search, set up house showings and keep you up to date about new residences that become available in your preferred cities and towns. In addition, a real estate agent will help you put together a competitive offer to purchase your ideal residence. And once you are ready to close on your dream house, a real estate agent will make it simple for you to do just that.
As you get ready to pursue your dream residence, it helps to prepare as much as you can. Thanks to the aforementioned tips, you should have no trouble enjoying a fun, exciting homebuying experience.
With closing day rapidly approaching, you're almost to the finish line of your home purchase. However, before you complete your home purchase, you will need to conduct a final walk-through of the property.
Ultimately, a final walk-through offers a valuable opportunity to identify any last-minute problems with a residence. If you encounter any issues during a final walk-through, you can ensure that the seller can correct these problems prior to a home closing.
Preparing for a final walk-through is key. Lucky for you, we're here to help you get ready for a final walk-through so that you can complete a successful home purchase.
Now, let's take a look at three tips to help you prep for a final walk-through.
1. Avoid a Closing Day Walk-Through
When it comes to a final walk-through, it pays to be cautious. Thus, you should give yourself plenty of time to set up a final walk-through. This will allow you to avoid the dangers associated with finding home problems on the same day as a house closing.
Try to schedule your final walk-through at least a few days before you close on a residence. That way, if you discover problems with a house, you can ask the seller to respond to these issues and reduce the risk of a home closing delay.
2. Keep an Eye Out for the Seller's Leftover Belongings
A final walk-through gives you an opportunity to view a house that is virtually empty. But if you find that a seller has left behind various belongings, you should not hesitate to ask the seller to remove his or her possessions.
Furthermore, a home seller should leave a house in "broom-swept" condition; this means a home's walls, floors and other surfaces should be dust- and dirt-free. If you find trash and other debris in a home, you can ask the seller to clean the property.
3. Be Ready to Test All Appliances
A homebuyer may acquire a refrigerator, washer, dryer and other appliances as part of a home purchase. These items often are expensive to replace, and as such, you'll want to make sure they work properly during a final walk-through.
If an appliance does not perform as required, you have the right to request that the seller repair or replace the appliance. Or, you may be able to receive financial compensation for the defective appliance.
When it comes to prepping for a final walk-through, there is no reason to work alone. Fortunately, if you collaborate with an expert real estate agent, you can receive plenty of support in the days leading up to a home closing.
In addition to providing homebuying assistance, a top-notch real estate agent is happy to attend a final walk-through. By doing so, this housing market professional can help you identify any potential home problems and resolve such issues as quickly as possible.
Plan ahead for a final walk-through, and you can avoid the risk of discovering assorted home problems after you close on a residence.