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Purchase Contract

Escalation Clause: Love It or Hate It, Here’s What Homebuyers Need to Know

With buyer competition reaching new heights, it’s no wonder homebuyers feel they need to pull out all the stops to ensure their offer rises to the top. There’s nothing like the frustration of losing out on a house that checked all your boxes—especially if it turns out to be a matter of a few thousand dollars you would be willing to throw into the deal, if given the chance. Pursuit of the top...

Thinking About Listing Your Home? Here’s Why You May Want to Sell Sooner Rather than Later

Housing inventory was thin going into the pandemic and has remained that way into 2021. Part of the reason is that homeowners who would have put their house up for sale in a normal year, held back.  With low interest rates continuing to drive demand and low inventory keeping the market extremely competitive, the simple economic laws of supply and demand have led to rising home prices amidst a...

Buyer Disappointment: Here are the Worst Reasons Not to Make an Offer on a Home

Yes, it’s a competitive world out there if you’re a homebuyer. But you can’t win if you don’t get in the game.  That’s not to say every house you look at is going to be worth making an offer. There are plenty of very legitimate reasons for not making an offer, such as serious structural issues or a price that is way over budget, to name but a few. But, let’s face it. Sometimes,...

You Have Accepted an Offer on Your House! Here’s What Comes Next

Congratulations! You’ve accepted an offer on your home!  So, what happens now? Here is what you can expect once you have accepted an offer on your home. 1. First stop: home inspection. Once you and the buyers have come to an agreement, the next step is usually for the buyers to schedule a home inspection.  You should not be present at your home during the inspection. As your real...

Entering into a Real Estate Contract: What You Should Know

It seems like much is written about making an offer on a house—how much to offer, what contingencies to consider and how to make your offer stand out. But a surprising number of buyers—especially first-time would-be homeowners—do not come to the real estate process with a clear understanding that they are entering into a legal contract when making an offer on a home. For the...

Wheeling and Dealing: Here’s What to Consider When Negotiating Your Home Purchase

Whether or not you’re a first-time homebuyer, you’ve probably given some thought to how to negotiate with the seller when it comes to contract time. But most homebuyers focus only on price. While price is critical, it isn’t the only part of the contract you may want to negotiate. Particularly in a market when inventories are low, being able to negotiate on things besides price could help your...

Five Questions to Ask Your Agent Before Making an Offer

When inventories are tight, it’s tempting to forge ahead with an offer quickly once you’ve found a house that checks all the right boxes. If you wait too long, you could lose out to another buyer. While that’s true, a home is the largest purchase of your life. It’s important to learn all you can about it before signing a contract. But do you know all the right things to ask? Here are five...

Ready, Set…Win! How to Buy a House in a Highly Competitive Market

Saying that the housing market is highly competitive is an understatement. Continued tight inventory means buyers can expect conditions to continue. But if you’re looking to make a move, whether first-time homebuyer or not, don’t let frustration rule the day. As with any challenge, being prepared is often the key to coming out on top. Someone is getting an offer accepted—it may as well be...

Here’s How Buyers Are Getting Their Offers Accepted

There’s nothing new about the competitive real estate market facing buyers. If you’re hoping to buy a new home, you may be feeling some anxiety over what is frequently a multiple offer situation. So, what’s a buyer to do? Here are 12 strategies buyers have successfully used to get their offer accepted, despite competing in a crowded field of buyers.  Offer an escalation clause. This...

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