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December 2006

December 14, 2006

Making YOUR Offer The Most Attractive It Can Be

Filed under: Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 3:59 pm

Here are some tips for making your offer on your potential new home as attractive to the seller it can be:


1) Get a pre-approval from the mortgage company that the LISTING agent uses most.

This will allow the listing agent, who will be presenting your offer to the seller, to be comfortable with your financing arrangements.


2) Narrow your contingency periods to ten (10) days maximum. Not business days either. Make sure you can clear your schedule to do all your inspections on a timely basis. Nothing sours a seller like “15 business days” to do a home inspection.


3) If you are flexible in the dates you can settle, give the seller the option to pick the settlement date. You can write a contract that gives the seller the right to choose your settlement date within a specific period of time, like “ from 30 to 90 days from execution of the contract”..seller to decide.


4) If the seller is buying another home, and doing so locally, consider allowing his or her title company to do your title work. Most title rates are standard, and you (generally speaking) will not incur more costs by having your title work done by a company you or your realtor chooses.


5) Write a nice note to the seller, to be presented with your offer telling him or her why you love their home, and why you want to buy their home. If it evokes a special emotion out of you, let the seller know. Every seller wants their home to be “loved”….let them know you love their home!


These tips may give you an edge in a competitive offer situation, or may just save you a couple of dollars when it comes time to negotiate with the seller! Good Luck, and know that the dollar amount you are offering is NOT the only factor your seller may consider when looking at your offer!

Mark Wade
Prudential Fox and Roach REALTORS®
530 Walnut St., Philadelphia, PA  19106

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December 8, 2006

Preparing Your Home For Your Buyers’ Home Inspection

Filed under: Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 10:09 am
We have all heard of the things we need to do to sell our home. Get rid of the clutter, clean it up, blah blah blah.
But what are some of the more practical approaches one can take to buffer the effects of a buyers’ home inspection report?
1)      Have your HVAC system serviced. Have the documentation ready for the buyer to see when the come to do the home inspection. Let your buyer know that you are aware of the potential age/weakness of the system (should that be the case) in advance. Change the filter! Let your buyer know that the system may be aged, but it is in good repair. This can save you from having to purchase a new HVAC system.
2)      Think about having a home inspection done in advance. Consider using a popular local company…one that your local realtors use often. Don’t use Uncle Phil, the fix-it man. Ask your realtor who most realtors use for home inspections. That will lend credibility to your report. Then attack some of the issues that the inspector brings up. If repairs on an inspection report total $2,000, your new buyers might ask for more than that to compensate for such shortcomings.
3)      Have your roof checked out by a local roofer. Consider doing repairs prior to a home inspection. Or point out shortcomings to the buyer, and make it a part of the negotiation process.
4)      If your state mandates a “Sellers Disclosure”…disclose away. Load it up! Buyers are generally more inclined to accept shortcomings when they are making an offer on your home, than when they are discovering shortcomings during a home inspection (which occurs about the same time as buyer’s remorse sets in!)
5)      Get rid of the old paint cans NOW. Your new buyer is not going to want them. Write down the brand name and specific paint colors and hand it over to the buyers. Most paint needs to be disposed of properly. You may not just throw them in the trash. And your buyer is not going to want to clean up your old mess
6)      Prepare a nice info list about your home. Detail when work was done, when trash day is, where the local recycling center is, etc. Make your home “user-friendly” via documentation. Also, providing numbers of local contractors you have used is a good idea. 
Buyer’s want to be comfortable with the operation and “nuts and bolts” of the home. Good preparation on the part of a home seller can put a buyers mind at ease, making for a smoother transaction, and a more comfortable buyer.
Any experienced seller knows that a comfortable, at ease, relaxed buyer is money in the bank!
Mark Wade
Prudential Fox and Roach REALTORS®
530 Walnut St., Philadelphia, PA  19106

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