Stephanie Payab's Blog
Shopping for a home is an exciting time for any hopeful homeowner. After weeks of scouring listings looking for the perfect home in the ideal location for you and your family, it can seem like you’ve found the needle in the haystack.
When it’s time to go visit that home, it’s easy to put on rose-colored lenses and overlook issues that should, at the very least, be taken into consideration when it comes to deciding whether or not you should make a bid on the home and how much you should offer.
Today’s post is all about preparing you for that first viewing. We’ll give you tips on what to look out for and how to factor these things into your equation when it comes to making an offer.
Check the listing for omissions
Even if a home looks perfect on paper (or on its website listing), it’s still quite likely that there are things you’ll want to know about before considering an offer. A home listing should attempt to address several questions you might have. But ultimately, it’s main goal is to attract interest in the home.
So, what type of things should be in the listing that the seller might leave out?
Poor street conditions, heavy traffic, and blind driveways are all things that will factor into your decision but most likely won’t be mentioned in a listing
Odors of any kind can be off-putting and difficult to remove. Some homeowners may not even know that their home has an offensive odor if they’ve become used to it.
Room omissions. If the home is listed as having two bathrooms but there are only photos of one, this could be a sign that there are problems with the second bathroom that the seller doesn’t want you to see quite yet.
Top dollar home repairs
A professional home inspection will be able to give you an idea of the kind of money you’ll need to spend on renovations in the coming years. But why wait? When touring a home, ask questions about the last time important renovations and repairs were made.
Roofs, septic systems, and electrical work are just a few of the things that are expensive to repair or replace. If the previous homeowner has a small family or lives alone and you plan on moving in with a houseful of kids, you might find that your impact on the septic and electrical systems of the home are too much for the house to handle. You’ll want to take this into account before considering a bid on the home.
The cost of heating a home in the winter and keeping it cool in the summer can be hefty if the home isn’t properly sealed and weatherproofed. Ask the current homeowner what they spend per month on utilities to get an idea of what you might be spending.
Then, take a look at the windows and doors. Cracks, malfunctioning locks, and worn weatherstripping are all signs that the home will need some work to be energy-efficient.
Don’t ignore the little things
Small fixes may not seem like a big deal when viewing a home. They can even deceive you into thinking that you’re getting a good deal by buying a fixer-upper for a price that’s lower than the market average.
However, it’s important to keep in mind that small fixes around the house are a sign that bigger problems are also being neglected. Don’t be too quick to assume the house will be a good deal before getting it professionally inspected.
Want to enjoy college football live and in person? Purchase a luxury house in California, and you're sure to find plenty of college pigskin action close to home.
Many luxury houses are available near top California college football teams, such as:
1. UCLA Bruins
The University of California, Los Angeles (UCLA) Bruins frequently rank among the top college football teams in the country.
Since 1919, the Bruins have been a model of consistency. The team has played in more than 30 bowl games in its history and even won a national title in 1954. Meanwhile, the Bruins have produced more than two-dozen NFL draft picks and have helped many college football players achieve their full potential.
For Bruins fans, nothing beats a trip to the team's stadium, the Rose Bowl. Here, Bruins fans can root for their favorite college football team with more than 92,000 of their closest friends.
2. Stanford Cardinal
A team that represents Stanford University, the Stanford Cardinal boasts a highly successful football tradition that dates back to 1891.
Over the years, the Cardinal have earned many unforgettable wins over top-notch opponents. Plus, the Cardinal have captured two national titles and 15 conference titles and have secured more than 600 all-time victories.
College football fans can make a trip to Stanford Stadium to watch the Cardinal during the pigskin season. Stanford Stadium features a seating capacity of 50,000 and offers a fun, exciting game day experience that college football fans of all ages are sure to enjoy.
3. USC Trojans
Established in 1888, the University of Southern California (USC) Trojans represent one of the most successful teams in college football history.
To date, the Trojans have had more players drafted in the inaugural round of the NFL draft than any other university. The team also has posted more than 800 all-time victories and earned 11 national championships.
Los Angeles Memorial Coliseum serves as the home of the Trojans. This stadium hosts more than 93,000 college football fans during Trojans contests who help deliver a game day experience unlike any other.
When it comes to college football, there's a lot to like about the Golden State. If you buy one of the luxury houses available in California, you should have no trouble watching any of the aforementioned college football teams live and in person.
Lastly, if you need help finding the right luxury home in California, you should hire a real estate agent. This housing market professional will do whatever it takes to help you accomplish your homebuying goals.
A real estate agent will provide details about new luxury houses that hit the market, help you prepare offers on luxury homes and much more. Perhaps best of all, a real estate agent is happy to offer honest, unbiased homebuying recommendations to help you make an informed purchase.
Don't hesitate to purchase a luxury house near a top California college football team. Consult with a real estate agent today, and you can move one step closer to making your luxury homeownership dreams come true.
Buying is home is a lengthy and, at times, stressful process. So, it can be discouraging when your offer is rejected.
If you’ve recently had a purchase offer rejected by the homeowner, don’t worry--you have options.
In this post, we’re going to cover some of those options so you can start focusing on your next move and potentially even make a second offer that gets accepted.
1. Reassess your offer, not the seller
You could spend days guessing the reasons the seller might not have accepted your offer if they didn’t give you a straightforward answer.
However, your time is better spent addressing your own offer. Double check the following things:
Is your offer significantly lower than the asking price?
If so, is it lower than comparable sale prices for homes in the neighborhood?
Does your offer contain more than the usual contingencies?
Once you’ve reassessed, you can determine if a second offer is appropriate for your situation, or if you’re ready to move onto other prospects with the knowledge you’ve gained from this experience in hand.
2. Formulate your second offer
So, you’ve decided to make another attempt at the house. Now is the time to discuss details with your spouse and real estate agent.
Out of respect for the seller’s time and their timeline for selling the home, you should treat your second offer as your last.
So, make sure you’re putting your best offer forward. This can mean removing those contingencies mentioned earlier or increasing the amount. However, be realistic about your budget and don’t waive contingencies that are necessary (commonly appraisals, inspection, and financing contingencies).
3. Consider including a personal offer letter
In today’s competitive market, many sellers are fielding multiple offers on their home. To set yourself apart from the competitors and to help the seller get to know your goals and reasoning better, a personal letter is often a great tool.
Don’t be afraid to give details in your offer letter. Explain what excites you about the house, why it is ideal for your family, and what your plans are for living there.
What shouldn’t you include in your offer letter? Avoid statements that try to evoke pity or guilt from the seller. This seldom works and will put-off most buyers to your offer.
4. Moving on is good time management
If you aren’t comfortable increasing your offer or if you receive a second rejection, it’s typically a good idea to move onto other prospects. It may seem like wasted time--however, just like a job interview that didn’t go as planned, it’s an excellent learning experience.
You’ll walk away knowing more about the negotiation process, dealing with sellers and agents, and you might even find a home that’s better than the first one in the process!
After you accept a homebuyer's offer on your residence, he or she likely will complete a home inspection. Then, the homebuyer may choose to move forward with the home purchase, rescind or modify his or her offer or ask the home seller to complete home improvements.
Ultimately, a home seller is likely to have many questions following a home inspection, including:
1. What did the homebuyer discover during the home inspection?
As a home seller, it is important to do everything possible to enhance your residence before you add it to the real estate market. By doing so, you can boost your chances of generating substantial interest in your house. Plus, when a homebuyer performs a home inspection, he or she is unlikely to find any problems that may slow down the home selling process.
An informed home seller may conduct a home appraisal prior to listing his or her house on the real estate market. This appraisal enables a home seller to identify potential trouble areas within a residence and explore ways to address such problems.
If you failed to perform a home appraisal, there is no need to worry. For home sellers, it is important to see a home inspection as a learning opportunity. And if a homebuyer identifies problems with your residence during a home inspection, you should try to work with him or her to resolve these issues.
2. Should I stand my ground after a home inspection?
Be realistic after a home inspection, and you'll be able to make the best decision about how to proceed.
For example, a home seller who goes above and beyond the call of duty may address major home problems prior to listing his or her house on the real estate market. This home seller will dedicate the necessary time and resources to correct home problems and ensure a homebuyer is able to purchase a top-notch residence.
But what happens if a homebuyer identifies problems during a home inspection, despite the fact that a home seller already tried to correct various home issues?
A home seller should consider the homebuyer's inspection report findings closely. If minor home repairs are needed, he or she may be able to fix these problems to move forward with a home sale. Or, if a homebuyer is making exorbitant demands, a home seller may feel comfortable allowing the homebuyer to walk away from a home sale.
3. How should I proceed after a home inspection?
A home inspection can be stressful for both a home seller and a homebuyer. After the home inspection is completed, both parties will be better equipped than ever before to make informed decisions.
If a homebuyer encounters many problems with a residence, he or she will let the home seller know about these issues. Then, a home seller can complete assorted home repairs, offer a discounted price on a home or refuse to perform the requested home maintenance.
Working with a real estate agent is ideal for a home seller, particularly when it comes to home inspections. A real estate agent will negotiate with a homebuyer on your behalf and ensure you streamline the home selling process.
The weeks and days leading up to a home closing can be stressful, particularly for a homebuyer who is already trying to do everything possible to secure his or her dream residence. Fortunately, we're here to help you simplify the process of getting to your closing date.
Now, let's take a look at three tips to ensure you can enjoy a fast, easy home closing.
1. Get Your Paperwork Ready
It often helps to get all of your homebuying paperwork ready before you pursue a residence. That way, you can minimize the last-minute stress associated with searching far and wide for pay stubs, tax returns and other documents that you'll ultimately need to get financing for a residence.
Furthermore, you should meet with local banks and credit unions as soon as you can. If you can get approved for a mortgage prior to starting a home search, you may be able to speed up the process of acquiring your ideal residence.
2. Be Prepared to Cover Your Closing Costs
Although you might have financing to cover your monthly mortgage payments, it is important to remember that you may need to pay closing costs to finalize your home purchase. As such, if you begin saving for your closing costs today, you can guarantee that you'll have the necessary funds available to purchase your dream residence on your scheduled closing date.
Also, you should be prepared to present a cashier's check or wire funds when you close on a house. If you plan ahead, you should have no paying off your closing costs when your complete your home purchase.
3. Schedule Your Final Walk-Through Before Your Closing Date
When it comes to a final walk-through on your dream house, why should you leave anything to chance? Instead, set up the final walk-through at least a few days before you're scheduled to close on a house.
If you find problems with a house during a final walk-through, you'll want to give the seller plenty of time to address these issues. Thus, if you schedule a final walk-through several days before your closing date, you can ensure that any home problems can be corrected without putting your closing date in danger.
For homebuyers who are worried about a home closing, there is no need to stress. In fact, if you work with an expert real estate agent, you can receive plenty of support throughout the homebuying journey.
Typically, a real estate agent can explain what you should expect in the time leading up to your closing date. If you have any concerns or questions before a home closing, a real estate agent is happy to address them. Plus, when your closing date arrives, a real estate agent will help you remain calm, cool and collected as you purchase a home.
Ready to streamline the process of closing on a house? Use the aforementioned tips, and you can reap the benefits of a quick, seamless home closing.