The Process of Going From Putting an Offer to Closing Escrow


Buying a home is a big deal, and is typically an involved process, especially during the time between offer acceptance and the actual closing. “Escrow” is basically when a neutral third party holds on your earnest deposit until all contingencies are met in a real estate transaction. It might sound like a fancy, intimidating term, but if you dot all your “i’s” and cross all your “t’s” leading up to closing, it should be a straightforward process.

Escrow is important because it essentially protects the public and lowers the risk involved in a real estate transaction. By having an experienced third party holding all the legal documents and funds, all parties involved can safely deal with each another and have the peace of mind knowing that no funds will be released and no legal documents will be recorded until all the conditions of the agreement are met.

Opening Escrow

After you choose an escrow company, opening escrow is pretty simple. All you need to do is send the purchase agreement to the escrow officer, which should include the following:

  • Address of the property
  • Purchase price
  • Closing date
  • Name and contact information of the seller
  • Name and contact information of the buyer
  • Name and contact information of the real estate agents (if involved)
  • Commission to be paid to any agents

These pieces of information will help the escrow officer to get the process moving.

Disclosure Preparations

Ideally, sellers should fill out and sign a Seller’s Disclosure package when listing a home. This will outline in detail any pertinent information about the property that a buyer will want to know before submitting an offer. If this step is tackled before the transaction enters escrow, it’s one less thing that will need to be done during the escrow process.

Complete the Escrow Package

You will be sent a package usually within a few days of opening escrow. Within the package are a number of documents that you need to carefully review, fill out, sign, then send back to the escrow officer. Make sure that the instructions in these documents match up precisely with the terms of the purchase agreement.

Obtain Financing

You may have been pre-approved for a mortgage for a certain amount before you even started looking for a home, but once you put in an offer that’s accepted by the seller, this is when the real work for your lender begins.

Your lender will verify your income, credit, debt-to-income ratio, loan-to-value ratio, and will verify if any changes to your credit and debts have changed since you initiated the mortgage application.

If everything is satisfactory to your lender, you’ll be approved for a mortgage for a certain amount. You will be given three business days to carefully read through your Closing Disclosure and compare it against your Loan Estimate to make sure the deal you were offered in the estimate is the one you’re actually getting.

Home Inspection

Buyers typically include a contingency within a purchase agreement to have a home inspection conducted on the property in question, which they are usually given about a week or two to complete from the time of offer acceptance. The exact amount of time they have to do this can be negotiated in the offer.

It’s recommended that sellers have property inspections down before an offer is on the table, which can help avoid any unpleasant surprises that may be uncovered during a buyer-appointed inspection.

If anything is discovered that requires attention, you can request to have certain repairs made within the inspection period. However, it should noted that sellers are under no obligation to make these repairs. It’s simply something that can be negotiated within the escrow period. Ideally, an agreement will be reached between both parties that will allow the deal to go through, whether the seller agrees to make these repairs or not.

Remove Contingencies

If everything checks out, the contingencies can be removed from the contract. However, if something creeps up during escrow that is backed up by a contingency, you have a legal right to bail out of the deal without any financial consequences. A list of recommended contingencies to include in a purchase agreement include:

  • Financing
  • Home inspection
  • Title search
  • HOA document review
  • Appraisal

The moment that each contingency is either fulfilled or expires, they should be actively removed from the agreement and signed by both parties.

Final Walk-Through

Within five days of the close of escrow, you can do a final walk-through of the home to make sure it is still in the same condition as when you agreed to put an offer on it and confirm that all agreed-upon repairs are made.

Close Escrow

At this point, you will receive confirmation that the deed is recorded and title is transferred. The seller gets your deposit money, and you will be funded by your lender with the money needed to cover the purchase. The seller will then get a final settlement statement from escrow that details all associated selling costs which are deducted from the purchase price.

The Bottom Line

The escrow process might seem like a long one, and it can be. Typically, the more contingencies in an offer, the more involved escrow will be. Escrow is often the intimidating part of buying and selling, but your real estate agent can help you navigate this otherwise complex process to successfully get you from offer acceptance to closing escrow.

6 Things to Consider When Designing an Outdoor Kitchen


Californians have the distinct advantage of being able to enjoy the outdoors year-round thanks to the mild climate in the state. Considering this fact, adding an outdoor kitchen can help homeowners maximize the enjoyment of their outdoor space.

In fact, outdoor kitchens are a hot commodity in this part of the country, and expand the living space by allowing homeowners to cook, eat, and entertain while enjoying what Mother Nature has to offer.

Here are 6 tips for creating an amazing outdoor kitchen for your home.

1. Decide on the Location

The first item on the agenda is determining exactly where you want the outdoor kitchen to go. The answer you come up with will depend on a few things. For starters, you’ll want to make sure that you don’t have to travel very far from your indoor kitchen to the outside to carry food items and dinnerware back and forth. As such, you might want to consider placing the outdoor kitchen somewhat close to the entrance to your indoor kitchen.

Consider how much traffic takes place in your yard, and if there are any children at play. A steaming hot barbecue shouldn’t be placed too close to where the kids normally run around.

Lastly, you might want to choose a location that will minimize the odds of smoke from the grill wafting into the house. Think about the overall wind pattern in your backyard to help you position your grill accordingly.

2. Establish a Layout


How well your outdoor kitchen works will largely depend on its layout, so be sure to clearly lay the foundation of the kitchen before you take your plans any further. Think about how you want your grill to be configured relative to the dinner table, and consider how the refrigerator works where you plan on putting it relative to the grill and serving station.

The same sort of ‘triangle’ layout that’s used for indoor kitchen design – whereby the sink, fridge, and oven/stove are laid out in a triangular fashion and are no less than 4 feet apart and no more than 9 feet apart – applies to outdoor kitchens too. The more elaborate the design and the more items you choose to include, the more carefully you’ll need to consider the layout.

3. Select the Size of Your Appliances

Your overall design plan will be affected by the number and size of appliances you plan to include. You might want to use many appliances and have specific entertaining needs in mind. Think about how all of these appliances will fit in with your design plan, how much space to allow for each appliance and its respective size, and how they will work together.

Don’t cram your appliances too close together, and make sure to leave ample space on either side of the barbecue so you have enough room for utensils, platters, and other items you’ll need handy. 

4. Include Utilities in the Planning Stage


You’ll obviously need to hook up your grill (if it’s gas), fridge, and sink to bring a power and water source to them, so make sure to include where these pipes and wires will be laid out before you start building. It’s a lot easier to install your gas, plumbing, and electrical lines before your kitchen is built, so plan accordingly

5. Incorporate Lighting and Entertainment

Consider adding some task and ambient lighting, as well as some entertainment to allow you and your guests to further enjoy your outdoor kitchen.

Task lighting is obviously needed for food preparation in the evening hours, but ambient lighting – such as under-counter LED lights or recessed lighting in the flooring – can help create the mood you’re looking for. In the same way, adding a speaker system can let you play your favorite tunes as you enjoy your outdoor kitchen space.

6. Add Some Shelter


The bright California sun can be sizzling hot, especially if you sit under it for more than a few mates. Adding some shelter can help you enjoy your meal without being blinded by the sun’s rays and dripping in sweat from its heat.

In addition, shelter can also provide some protection from any sudden rainfalls, no matter how scarce they may be. One of the more common and esthetically pleasing shelters that you may want to consider is a wood pergola, which can take the edge off the sun while still allowing ample natural light come through.   

The Bottom Line

If you’re contemplating creating a private outdoor oasis where you can enjoy a good meal prepared right in your own backyard, a fully-equipped kitchen can be a welcomed addition. But before you start piecing this space together, make sure you take the above tips into consideration to avoid winding up with a finished product that will need major modifications after the fact.

7 Tips For Selling Your First Home


Regardless of how long you’ve lived in your first home, selling for the very first time can be a daunting task if it’s not done right. While there are certain factors that you can’t do much about – such as the current market conditions and your location – there are plenty of other components to the selling process that you have total control over, which can significantly impact the end result.

If this is your first time selling a home, take the following suggestions into consideration to help make the process a smooth and successful one.

1. Stage Your Home

First impressions go a long way, so the better your home looks in the eyes of buyers, the better. Make sure to take some time to declutter your home and clean it up, and consider investing in professional home staging. These professionals will neutralize your decor and arrange your furniture appropriately so that buyers will be more attracted to the style and be better able to see themselves living there.

2. Price Your Home Right

A lot of sellers believe their homes are worth more than they really are. At the end of the day, your home is only worth what buyers are willing to pay for it, which is dictated by the current market in your local area. If you price too high, you’ll end up with a stale listing that’s doing nothing but scaring buyers off.

Instead, if you price appropriately, you’ll make your home more competitive in the market and attract more attention without having to make price reductions after the fact.

3. Disclose Pertinent Information

As the seller, you’re obligated to disclose all issues with the home that you are aware of, and you need to communicate these facts though disclosure statements. If you fail to reveal a problem with the home that you knew about and the issue comes up after the new buyers move in, you could be stuck ironing out these issues in court.

4. Be Flexible With Showings

The easier you make it for buyers to come and see your home, the more showings you’ll get. Try to be as flexible as you can when it comes to showings. Don’t severely limit the days and times that buyers can make appointments to visit. Their work schedules and family responsibilities can make it tough to work around your strict viewing times; instead, make showings flexible enough for buyers’ schedules.

5. Emotionally Detach Yourself

The home selling process is an emotionally charged one. After all, it’s your home we’re talking about, and is perhaps where you’ve dwelled for years, raised a family, and made memories. Letting go of it can be hard, and receiving offers for significantly less than what you believe the home is worth can be disappointing and even insulting.

Try not to take anything personally. While it may be a home to you, it’s essentially just a building to buyers until they move in and start making their own memories there. Don’t let your emotional attachment to your home cloud your judgment and your ability to make the right decisions, especially when it comes to staging and pricing your home, as well as how you handle offers and negotiations.

6. Be Open Minded Through the Negotiations

Speaking of negotiations, it’s crucial to keep an open mind during these discussions. You might not like what you see with an offer, but that doesn’t mean there can’t be a meeting of the minds and an eventual deal that both parties can be satisfied with. Consider what’s most important to you: the asking price, the closing date, the deposit amount, and so forth. These are all things you’ll need to consider as you evaluate offers that come in.

Don’t forget that you can always counter an offer, rather than just toss it out the window if you see something you don’t like. Entertain the offer to see how far you can go with it.

7. Hire an Experienced Real Estate Agent

Forget about going solo on your home sale, especially if this is your first time. A real estate transaction is typically a complex one that involves a lot of little details that you may not be familiar with. A professional real estate agent will have the education and the experience to handle the process diligently so that there are no holes in the deal. 

The Bottom Line

You’re ultimately in the driver’s seat when it comes to choosing a listing price, accepting/countering offers, and plenty of other factors. Selling your first home can be challenging and even emotionally draining, but if you heed these suggestions, you can make the process much more streamlined.

How to Curb Condensation in Your Home’s Crawl Space


Even the slightest bit of condensation built up in your home’s crawlspace can wreak havoc on your enter home. Water that’s allowed to sit for extended periods of time can cause a whole slew of problems in your home, including musty smells, efflorescence (crystalline deposits), rotting material, mold, and a cracked foundation.

While condensation can be the result of a variety of factors, the more common causes include leaks in water lines, leaks in plumbing pipes, inadequate vent space, inadequate cross ventilation, air leakage in the ductwork, lack of plastic ground cover within the crawlspace, and water that is allowed to pool around the perimeter of the home as a result of poor drainage and ground sloping.

How Can You Prevent the Build Up of Moisture in Your Crawlspace?

Once moisture has been able to sit in a crawlspace for long enough, it can quickly cause damage that is difficult and expensive to rectify. As such, it’s important to take measures to prevent the build up of condensation in your home’s crawlspace to minimize any issues that may arise as a result.

Here are some steps you can take to curb the condensation develop in your home’s crawlspace.

Drain Water Away From Your Home

You need to have an adequate sloping outside of your home in order to ensure that water can adequately drain away from the foundation. If water is allowed to pool around the perimeter of the structure, it could easily seep into the home and make its way to the crawlspace. Ideally, the soil outside of the foundation should slope one-tenth of an inch per foot.

Install Rain Gutters

If your home has no rain gutters, rainwater will pool at the foundation walls and wind up in the crawlspace. Once you install gutters, they should be kept free and clear of any leaves or other debris in order to avoid any blockages or gushing of rainwater.

Install a Vapor Barrier

If your crawlspace is damp, this excess moisture can condense and ultimately cause the framing of the floor to become damp. After a while, the framing will develop mold and efflorescence, and start to rot. Installing a vapor barrier with a layer of sheet plastic on top of the soil in the crawlspace can help prevent this damage to the floor framing.

Improve Ventilation

Both passive and active ventilation are helpful at ensuring your crawlspace remains void of condensation. Passive ventilation, such as foundation vents and windows, does not require the use of mechanical equipment, while active ventilation involves the use of such mechanical equipment, including exhaust fans.

Inspect the Ductwork For Air Leaks

Condensation can develop on the outside of ducts when the air conditioner is running. Inspect your ductwork on occasion for any air leaks – if you notice any, have them repaired right away.

Add More Vent Space

If there isn’t enough vent space, you are setting up the area to develop condensation. Ideally, there should be a minimum of one square foot of vent area for every 150 square feet.

Add fan vents. A small fan installed on the vents can help remove moisture from your crawl space. Make sure the fan’s humidistat is programmed to turn the fan on at 70% relative humidity in order to work effectively.

The Bottom Line

Moisture build up in your crawlspace is not just a structural issue in your home – it’s also a health concern. In addition to costing you a pretty penny to make repairs from damage caused by condensation, the mold that can develop as a result of this excess moisture can also be harmful to your health if inhaled over a long period of time. Your best bet is to identify issues before they become expensive, hazardous problems.

6 Things You Can’t Hide From Your Landlord


When you’re renting your home, your landlord doesn’t need to know what brand your television is, what you stock your fridge with, or who you invite over for dinner; nor does your landlord particularly care.

However, there are things that your landlord would certainly be interested in knowing about. After all, as an owner, your landlord’s best interests are to ensure the property is well cared for while trying to keep you comfortable and happy. And in order to ensure a positive tenant-landlord relationship is fostered, you’ll need to be upfront with a few things, or it could wind up costing you.

Here are a few things you shouldn’t keep your landlord in the dark about.

You Have a Pet

If the lease you signed stipulated a no-pet policy, then you’ve got to abide by it. You can’t pretend that you have no intentions of bringing a pet on board when you’ve got Fido waiting for you along with all of your belongings. It can be challenging to find a pet-friendly rental unit, but that doesn’t mean you can make the rules up as you go.

Perhaps the unit you are renting does allow pets, but the lease outlines an extra deposit needed in case the animal causes any damage to the place. Many renters might conceal their pets in an effort to avoid having to front this money. Either way, hiding pets from your landlord is a bad idea, and can cost you if you’re ever found out. Not only could you be slapped with extra expenses, you might even find yourself on the verge of eviction.

You’re Subletting

If you have plans to sublet your unit in the near future, you better make sure that you and your landlord negotiate these terms and include them in the lease. Otherwise, if the lease clearly states that subletting is strictly forbidden, then this arrangement is off the table.

If you’re planning on going on a month-long vacation, you might think you can get back that month’s rent by subletting your unit to another individual. After all, how will the landlord find out, right? Aside from being unethical and against the rules of the lease, subletting can really land you in hot water if you happen to hand over the keys to someone who’s less than reliable.

There’s a reason why your landlord conducted a credit check on you and called your previous landlords. If you happen to let someone in your home on a short-term rental without doing the same types of checks, you’re putting yourself – and everyone in the building – at risk. If you break that trust with your landlord, you’re breaching the lease and can really get yourself into a lot of trouble.


You’ve Brought in a Roommate

There is plenty of information that you need to fill out on your lease, including the full names of all people who will be living on the premises. Your landlord fully screened you before allowing you to be a resident in the unit; if you sneak in a roommate, your landlord will not be given the chance to do them same with this new individual.

As the owner of the unit, your landlord has a right to know exactly who is living there. Not only that, there may be restrictions on how many occupants are allowed to live in one unit, depending on the property or the local jurisdiction.

You’ve Got a Plumbing Problem

Whether it’s a clogged toilet or a leaky faucet, your landlord needs to know about it so the problem can be fixed without it causing any major damage. You might be afraid to tell your landlord about a problem like this with the fear that you will be blamed for the issue and will have to cough up the money to fix it.

However, your landlord is ultimately responsible for repairing just about every plumbing issue. If that particular problem turns into a catastrophe because of your neglect to inform your landlord right away, you could be stuck contributing to the cost.

You’re Running a Business Out of the Place

Running a business out of your rental unit without letting your landlord in on this important piece of information is a big no-no. Not only will you be breaching the lease, you just might be going against specific restrictions in the zoning of the property that strictly forbids operating a home-based business – depending on what type of business it is. Going against the lease and the laws in your jurisdiction can result is a temporary shutdown of your business for a little while, while can really hurt the pocketbook.


The Bottom Line

The best way to go is to be completely honest and upfront with your landlord. You might try to keep hide certain things, but secrets have a way of being found out. And when it comes to breaching your lease, you could wind up being responsible for added costs, or even find yourself having to look for a new place to live. Honesty is certainly the best policy when it comes to your rental.

How Will 2017 Pan Out For California’s Housing Market?


The housing market in California is anticipated to experience moderate gains in 2017, according to the California Association of Realtors (CAR).

California has already been experienced a housing affordability issue all throughout 2016, and real estate experts anticipate that the trend will continue well into 2017 as a result of a tight squeeze on housing inventory and soaring prices.

Late last year, CAR predicted that the Golden State would have to deal with inventory shortages and rising prices which would have a direct impact on housing affordability, which we now know was right on point.

Not only is the affordability issue in California expected to continue into 2017, it’s also presumed to get worse. It’s been a cause for concern among buyers and real estate professionals alike. Of course, sellers are reaping incredible financial rewards thanks to the hot market across the state, if they can find buyers who are willing and able to pay such high prices.

Despite such issues, the effects won’t necessarily be felt exactly the same way in every part of California. There will be regional differences. More affordable parts like the Central Valley will likely perform better than much more expensive centers like San Francisco. As such, more affordable regions will likely realize stronger sales while more expensive regions may go through a decline in sales as buyers on a budget look at more affordable alternatives.

The San Francisco Bay Area – the hottest real estate market in the state – is expected to experience bigger price increases of over 6% to $833,600 in 2017, yet sales will slow down as more buyers will look to more affordable areas to avoid the costs. Forecasted sales drops in San Fran for the new year are pegged at 5.6%.

According to CAR, existing home sales will increase at a modest 1.4% rate in 2017 to 413,000 units, which is up a little from 2016’s projected sales of 407,300 units.

Luckily, mortgage interest rates aren’t expected to skyrocket any time soon, but instead are expected to reach a reasonable 4% on a 30-year, fixed-rate mortgage in 2017. In addition, the pace of home price increases in California are expected to slow down a bit: the 2016 price increase projection was 6.2%, compared to a more modest 4.3% increase for 2017. That’s the slowest rate of increase in six years.

The overall US economy has improved in 2016 and is anticipated to continue on that path into 2017. California is faring even better in this department, yet only 29% of homebuyers in the state will be able to afford the expected $525,600 price tag for a median home in 2017, down from 34% during the first quarter of 2016. That number isn’t expected to get any better going into the new year.

Strong job growth and improved economy will play a role in demand and sales growth, but high prices and affordability crunches will continue to keep the pace somewhat slow. As a result, we can expect to see a slow increase in the California housing market in 2017.

5 Ways to Revamp Your Bathroom Without a Whole Remodeling Job


Bathrooms might be tucked away from public view, but they are one of the most important spaces in a home, especially when it comes to property value. And just like any other room in the home, they need to be updated and spruced up every so often. But if you’re not in the mood for a total overhaul, or simply don’t have the budget to accommodate a complete renovation, you can still revamp this underestimated space into something fabulous. Here’s how.

1. Make Smart Use of Paint

Sounds like your obvious starting point, but it’s worth mentioning nonetheless. It’s amazing how much a difference a simple coat of paint can make. The color you choose will also provide a certain aura to the room: choose something soft to create a soothing space that appears lighter and more spacious, or something darker and richer to create a more sophisticated vibe.

You don’t have to limit the paint just to the walls, either. You can extend the paint job to the ceiling, and even go so far as to paint a faux sky if you’ve got a creative hand. You can even paint the shelves and the vanity to change things up without having to replace everything. Just make sure that you use a water-based primer and mildew-resistant paint to help keep the moisture off of the drywall and prevent mold and mildew.

2. Change the Light Fixtures

Good lighting in he bathroom is an absolute must, and if it’s currently dark and dingy in this space, swapping your currant lighting for something updated can both improve your task lighting and create a new look in the space. Consider adding a dramatic statement piece, such as a chandelier, to add a sense of style.

Replace the vanity lighting with something more updated while still providing you with that important task lighting needed when getting ready in the morning. Last but not least, add dimmer switches to give you the flexibility to adjust the amount of lighting as needed, and to help create a more serene setting when you just want to relax in the tub.


3. Change the Hardware

Just the simple act of changing up the hardware in the bathroom can make a world of difference, and it’s probably the simplest and cheapest way to update this space. It really comes down to the details, and the hardware – such as drawer pulls and door knobs – is the perfect detail to adjust when a total overall in the bathroom is off the table.

While you’re at it, spruce up the accents too, such as the soap dish, toothbrush holder, or wall art. Consider going a little bold with these small pieces, which can be easily changed if you start growing tired of their colors.

4. Update the Faucets

To really make a big splash in the bathroom, swapping your old faucets is a must. New sink faucet fixtures can turn your bathroom from drab to fab in no time without any major remodeling, and changing your showerhead and knob can make it seem as though you’ve done a lot more work in the bathroom than you really did to make it look and feel more luxurious. Take things a step further and consider splurging on a functional handheld showerhead to make your bathroom more spa-like.

5. Add a Towel Warmer

To top off the luxurious feel in the bathroom, consider adding a towel warmer. There’s nothing more cozy than stepping out of the shower to be greeted with a warm and toasty towel to drape yourself in. There are all types of towel warmers that will fit just about any space, including tight ones. If you don’t feel like getting into the electricals, there are plug-in versions available for quick and easy installation.

The Bottom Line

There’s no need to splurge on an in-depth remodeling job just to update your bathroom and add a sense of luxury to it. Consider one – or all – of the above tips to transform your bathroom without having to break the budget and spend oodles of time and effort revamping your bathroom.

How to Handle a Low-Ball Offer on Your Home


One of the biggest fears that sellers have is receiving an offer that’s well under the listing price. Homeowners typically have a dollar figure in their minds that they want to sell their properties for, and if an initial offer comes in well under that price, it’s obviously frustrating and even insulting. However, that doesn’t mean you shouldn’t necessarily assume the deal is dead just yet.

Before you rip up a low-ball offer on your home, here are some considerations to make when handling these potentially unpleasant situations. 

Be Prepared

Not every real estate transaction is structured the same way. While many times a very attractive offer will come in, other times the offers are unacceptably low. It’s important for sellers to be prepared for this potential situation rather than be blindsided by a low-ball offer. Understand what would actually be considered a “low-ball” offer before reacting to one.

Every market is different. In some markets, a low-ball offer can be considered a number that’s 10% under the asking price, while in other markets it may be as low as 30% below. Go into the game fully prepared for anything to happen and you’ll be better equipped to handle yourself.

Keep Your Emotions in Check

Your first thought when being presented with a low-ball offer might be to tear the contract to shreds and tell the prospective buyers to take a hike. Selling a home is certainly an emotional process, but it’s important to keep your feelings under control to ensure you don’t lose out at the end of the process. What you should remember is that where the process ends is more important than where it starts. If you can end off somewhere that’s acceptable to you, starting off with a low-ball offer is essentially irrelevant.

Counter it

That brings us to our next point. You won’t end up anywhere that you want to be if you throw the offer out completely without countering. Even if you are presented with a low-ball offer, always counter it. Sure, you might be shut down, but you might as well entertain the potential of getting the price back up there while an offer is on the table. Keep the negotiation lines open. Come back with a counter offer and see how the buyers react and what they counter with. How much you counter with should be discussed with your real estate agent.

Keep an Open Mind About Where the Buyers Are Coming From

Don’t always assume that the buyer is intentionally trying to insult you by putting in a very lower offer. There might be any number of reasons for their low-ball offer. Perhaps that’s all the buyers can afford and thought they would try their hand at putting in an offer on a home that they love, even if the offer is well under the listing price.

Maybe they are coming from a location where comparable properties are selling for less than what you are asking, or perhaps they are first-time buyers who may be confused about how the negotiating process on buying a new home works. Of course, they could also be an investor who’s just trying to get a property for dirt cheap in order to maximize profit margins. Your real estate agent can help you determine what the buyer’s motivations are behind their low-ball offer.

Don’t Settle For Less Than What Your Home is Worth

As long as you are certain that the price you’ve listed your home at is at par with the current market, then there’s no reason to accept much less than what it’s worth. This is why pricing the property accurately from the get-go is so important.

Your real estate agent should pull a list of comparable sales of similar properties in the neighborhood that recently sold to identify what price point you can list at. If other homes that are very similar to yours have recently sold for $400,000, for instance, there’s no reason why you can’t get somewhere close to that.

The Bottom Line

Keep in mind that selling a home is essentially a business endeavor where each party is trying to get the best deal possible. Taking emotions out of the equation will help you to see more clearly and make better decisions. If you let your emotions get the better of you, you’ll only wind up frustrated with no deal. If you do get a low-ball offer, there’s still a chance that you can come out of the transaction with a home sold at an acceptable price if you take the right steps in the process.