What If My Offer Is Rejected?
Oddly enough, I get asked this question most often before clients write offers. This usually goes along with the fear of commitment or loss. Either way, clients are usually inquisitive of this before even writing an offer or deciding on what terms to offer.
If your inquiring about rejection before you write your offer, you should ask yourself how that would make you feel? Is this property your dream home, starter home, vacation home, investment? I think depending on where your interest lies with investing in that particular property will then come the answer to your question, “what next”?
If the outcome is not what you predicted or wanted then maybe you should ask your realtor why; what was the seller looking for in an offer? How can I learn from this to increase my chances of acquiring my next property of choice? Of course the best advice comes from those with their hands in the market every day so to speak! So….. don’t be afraid to ask your favorite realtor here at Prudential in San Bruno, ” WHAT SHOULD I DO?”
Lets get your best offer in first, then and only if we have to, will we deal with rejection TOGETHER:) Otherwise, BEST OF LUCK with your offer!
Bernadette Ramirez
Prudential California Realty
I WORK FOR YOU!
You can reach me @ 650-871-3639
What’s the difference between inspections and the”final walk-through”?
Inspections are the buyers right. You as a buyer have the right to inspect the home if your offer is accepted by the seller. This is your chance to find out as much about the property as you can. Depending on what type of investment you have in mind, would depend on what type of inspections you should get on the property. Areas, weather, years, all of these things need to be taken into consideration when deciding which inspections to do. Using your due diligence and inspecting the property is very much to the buyers advantage and at times to the seller as well.
The final walk – through is done at the very end of the transaction a few days before close of escrow. You can refer to your purchase agreement for future reference. You can find more elaborate information regarding the final walk- through in the section labeled “Final Verification of Condition” again, verbiage may vary depending on which agreement you use. The walk- through is used to solely verify the terms and conditions of the contract have been executed by all parties of the agreement. NOT to re-negotiate terms and conditions!
Remember, these terms are not always clear or at the very least create more questions, we are always here to answer any questions you have. As tech savy as we are these days its just silly not to ask when you can have the answer at your fingertips!
Bernadette Ramirez
www.BarForU.com
Happy Holidays!!! Look below for a special Holiday offer!!!
What Do I Get When I Buy A House?
Well that’s a pretty loaded question. I think it depends on why you are buying. Lets break it up into pieces.
Are you investing or is this home going to be your primary residence?
If you are looking at purchasing a home for investment purposes, it’s probably a good idea to make sure it has a good return on it. Also… you want to make sure with the rent you are not only able to pay the mortgage (be sure to check if your property taxes are included in your mortgage payments). You will also want to make sure that the amount of rent you charge is comparable to the area and to your mortgage payments. Ideally you would like enough rent to cover the mortgage, property taxes, and maintenance. In the perfect world you would like your tenant to pay enough rent yet the rent be atractive enough to keep them as long term tenants to relieve as many out of pocket expenses for you. Inevitably there will be some sort of repairs or maintenance that will be your responsibility as the owner to remedy some of which you can write off 
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Why Real Estate?
Everyone likes real estate, whether what’s constructed on it serves as an abode or an investment. Real estate is tangible. Unlike stocks and bonds, real estate can be touched, handled and improved. Real estate provides “psychic revenue.” There is a pride of ownership that comes with real property that doesn’t come with other property.
Financial media are rife with articles on why owning residential real estate isn’t such a good idea. They point to arguments on how real estate decreases mobility or how much it costs to maintain. The articles have some validity, but they are often marked by glaring omissions. Yes, real estate can limit mobility in a slow economy, but it has always been that way. There is nothing new to this point. Read more
12 Hidden Costs of Homeownership
Hi everybody! I know, it’s been awhile..but here’s an awesome article I found earlier this year that would benefit first-time home buyers especially!
-via Luke Mullins, USNews.com (April 8, 2010)
As the selling season gets underway, many Americans will be looking to take advantage of the lower real estate prices, attractive mortgage rates, and federal tax credit by purchasing a home. But remember: Not all of the costs associated with homeownership are reflected in the listed price. Indeed, many buyers — particularly first-time buyers — may be surprised by the amount of cash they’ll need to set aside for housing-related expenses that they hadn’t previously considered. These often-overlooked expenses can include everything from title insurance to lawn mowing. To give would-be home buyers a better sense of the budget they’ll need to buy and maintain a home, U.S. News spoke with a handful of real estate experts and compiled a list of 12 hidden costs of homeownership:
1. Home inspection. Since a home purchase is likely to be the largest financial investment of your life, it’s a good idea to have it professionally inspected beforehand. A home inspector can point out areas of the property that may need repairs. Buyers can use this information as leverage during home-price negotiations or simply to determine whether or not the property is worth purchasing. “It’s not required, but certainly I recommend it to buyers,” says Judy Moore of Re/Max Landmark Realtors in Lexington, Mass. “It is actually very helpful in that [buyers] learn about the property and how to maintain it and it also alerts them to any potential issues that may be coming up in the near future or need to be taken care of.” The cost of a home inspection, which can run several hundred dollars or more, is typically incurred by the buyers before they go to closing, Moore says. Read more
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