Buying Your Home - Making an Offer
The difference between list and sale price:
The list price is how much a seller would love to receive when selling their home. There are expenses for the seller to list a property on the open market along with repair costs if any and a possible buyers closing assistance fee.
Generally, when listing a property with a real estate brokerage, the price of the home coincides with current market data within the neighborhood and is related to recently closed sales transactions and appraised values that went along with those sales.
You, as a buyer, need accurate information and a competent Realtor who will represent you exclusively and who has current knowledge of home prices in your target market.
Your RE/MAX Realtor will have comparative market analysis date to assist you is making the best possible offer and then negotiate on your behalf to secure a contract for purchase.
Are low-ball offers advisable?
A low-ball offer is a term used to describe an offer on a house that is substantially less than the asking price. While any offer must be presented to a seller, a low-ball offer on a property that is priced competitively can sour a prospective seller and discourage the seller from negotiating with you at all.
Even if the home listed is extremely overpriced, your offer
will most likely be rejected. A great Realtor will help you throughout your negotiations.
What is the difference between list price, sales price and appraised value?
The list price is a seller's advertised price. The sales price is the amount of money you as a buyer would offer and pay for a property. The appraised value is a licensed and certified appraiser's value estimate for the property. It is based solely on comparable sales data and the condition of the property.
What are contingencies in relation to a home purchase?
Most purchase offers include contingencies: A financing contingency, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender and proceed to settlement of the property. A home inspection contingency, which allows buyers the right to have the property inspected for defects that may include structural and mechanical items, mold, radon and chimney. An appraisal contingency,which protects the purchaser from paying more than the homes appraised value.
Your RE/MAX agent is trained in document preparation in order to protect your rights as a home buyer!
What is Chattel? Lighting, kitchens, bathroom fixtures etc. anything permanently attached to a house.
Do I need an attorney when I buy a house?
Not in Maryland ! What you need is a great REALTOR.
Call us today, we are here for you !