The Sales Process
Reviewing and Negotiating a Contract
When a buyer decides to purchase your property, they will write a Purchase and Sale contract and the buyer’s agent will present the offer to us. We will present the offer to you and explain all the details, after which, offer our advice and suggestions on how to proceed based on your goals and needs we reviewed in our first meetings.
When reviewing an offer, we look at the following details:
- Price
- Buyer Qualification, Down Payment Amount
- Earnest Money Deposit Amount
- Closing Date
- Inspection
- Items Included in the Sale
- Contingencies
Home Valuation
Real Estate valuation is not as easy as one may think. In fact, if one were to conduct ten different appraisals with ten different appraisers they would receive ten different home valuations! Basically, every practicioner has their own opinion of what a particular property is worth on the market. The market will determine what the home is ultimately worth when a ready, willing and able buyer presents themselves with a purchase offer.
Home Field Realtors has solid experience in Chicago Western Suburb Real Estate, Naperville Luxury Real Estate, Oak Brook Luxury Real Estate and Hinsdale Il Luxury Real Estate. Our home valuation analysis software allows us to determine valuation from a buyers perspective as they consider all sorts of financial scenarios.
Overpricing A Property Will…
Current Buyers Agents are working with active buyers and agents won’t show the property if they feel it is priced too high. They typically keep a close eye on the market for new listings that are in their price range. Overpricing will only attract the wrong prospects and they will be comparing it with other homes that are higher priced (better condition, more amenities, choice location). An appropriately priced property will attract those active buyers who can afford the home. Conversely, Buyers Agents will advise their clients of those homes that come on the market that are overpriced and as a result, that particular home seller may not get as many showings as they would like.
The most activity for a new listing will take place in the first 30 days. Home sellers have the greatest chance of receiving the highest offers during this time period. If your home is overpriced, buyers in the price range your home should be in won’t be able to make an offer because they probably have not seen your property. They will looking at the homes that are priced correctly and within their price range.
Just like a loaf of bread, your home can become stale on the market. Shoppers can pass by your house if it has been on the market for some time, thinking or assuming, that something must be wrong with it. Buyer perception is paramount.
Home Field Realtors has competitive real estate commission rates, top service and cutting edge marketing strategies to get your home sold for top dollar. Contact us at info@homefieldrealtors.com to get started!
