Lowballing 101: How to Avoid Insulting a Home Seller when Making a Low Offer for Their House or Condo

Lowballing 101: How to Avoid Insulting a Home Seller when Making a Low Offer for Their House or CondoBuying a home is a huge step for people who are ready to make an investment in their future. Getting a great deal on a home is just as important and knowing how much to offer could be confusing. It is important to make sure the home seller is not insulted by the lowball offer and is ready to negotiate to make sure everyone wins.

Make a List of Necessary Improvements

One of the best ways to validate a lowball offer on a home is to list improvements that need to be made to the property. If the home needs a new roof or a new heating and air conditioning system, these are reasons to offer less than the asking price. Sometimes a home may also need new flooring, paint, or matching appliances which all cost money. The buyer can make a lowball offer stating additional expenses of making sure the home is move in ready.

Explain Any Issues with the Location

Another option when considering a lowball offer is to point out problems with the location. If the home is on a busy street or close to a manufacturing district, the buyer has legitimate concerns. In the offer, list the potential problems of living too close to fast food restaurants, train tracks, or airports. A less desirable location could equal a great buy on a new home.

Provide Pricing for Comparable Homes in the Area

A knowledgeable real estate agent can help compare homes that have sold in the area. When you are writing up a lowball offer, look at the lower priced homes that have sold in the same neighborhood. A seller will quickly realize that if he wants to sell the home, he will need to accept a reasonable offer or risk letting his house sit on the market for weeks or months.

Consider the Seller’s Reasons for Selling

Finally, the seller’s situation can also be key in getting a good deal on a home. If the seller is desperate to sell because of a job relocation or if he has already bought a new home this can be the perfect reason to make a low offer and take the home off the seller’s hands. Without insulting the seller, the buyer can make an offer for less than the asking price and agree to a quick closing.

Buying a home can be stressful and getting a good deal on the property without insulting the seller can take some negotiating. Working with a knowledgeable real estate agent will make the experience more enjoyable. Call today to make your dreams come true.

posted by Bill Desautels

P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com

The Condo Guy – Vermont condo real estate

The Condo Guy has been providing advice to buyers
and sellers of Vermont condos real estate
for nearly 30 years.

Real Estate sales and marketing in the Greater Burlington Vermont region has been my occupation and passion for more than 30 years. My focus has been on the sales and marketing of condominiums with a generous amount of single family home sales thrown into the mix. Each week I bring information of interest that not only focuses on the local home and condo real estate community but also provides context to the Burlington market in respect to larger market real estate trends. I enjoy feedback and the opportunity to meet my readers and experience their home. The Condo Guy is here for you when it comes time to buy or sell your condo or home.

Stay Organized Under The Kitchen Sink

Stay Organized Under The Kitchen SinkKitchen space is a valuable commodity. If you feel stretched for storage space, you could throw away all the flatware your mother-in-law gave you, or you could keep the flatware and learn to use the space you have – more efficiently.

The number one most likely spot to find extra storage space is right under your kitchen sink. Organize your under sink area and it will free up space all over your kitchen.

Clean It Up

The cabinet below the sink has a nasty reputation. It’s home to rusty pipes, water stains, and dead ladybugs. First thing is first – clean it up. If it still looks a little dingy, give it a fresh coat of white paint. That will lighten things up. You can also get a simple cloth mat to lie down. You can find one for less than five bucks.

Rollin’ Rollin’ Rollin’

You can find a home for just about anything under the kitchen sink. It’s a good spot for pots and pans, cleaning supplies, a trash can, or dog food. (Maybe not all of those things together – yuck.)

No matter what you decide to store in this wonderful space, it will be easier to access with the help of a rolling organization shelf.

With one of these bad boys, you won’t have to stick your head in the cabinet to find the right tool. You can find some that are made specifically for this space. Be careful though. They can get a bit pricy.

Get Hooked

The key to saving space is to build vertically. Buy some plastic hooks, and hang things under the kitchen sink. It’s a great way to store things like dishwashing gloves or dishrags. One clever trick is to secure a narrow dowel rod across the opening of the cabinet. Then you can hang any cleaning sprays across the rod. They come with a built in hook – the spray trigger.

Top Shelf Storage

You can buy amazing under-sink shelving at home store. Many of them snap easily together like Legos, and you can build them around your sink’s pipes. If you fill the cabinet with shelving, then you’re more likely to keep things organized.

If you’re like me, then after a couple of weeks, you’ll let your organized cabinet go to pot. With shelves, hopefully you won’t end up just throwing everything underneath the sink.

If you’re feeling short on kitchen space, try reorganizing. It’s a lot cheaper than getting new cabinets, and you’ll be amazed by how much space you already have. The space under the sink is a whole world of storage possibilities. If you have wasted space under the kitchen sink, then use it!

posted by Bill DesautelsP: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com

The Condo Guy – Vermont condo real estate

The Condo Guy has been providing advice to buyers
and sellers of Vermont condos real estate
for nearly 30 years.

Real Estate sales and marketing in the Greater Burlington Vermont region has been my occupation and passion for more than 30 years. My focus has been on the sales and marketing of condominiums with a generous amount of single family home sales thrown into the mix. Each week I bring information of interest that not only focuses on the local home and condo real estate community but also provides context to the Burlington market in respect to larger market real estate trends. I enjoy feedback and the opportunity to meet my readers and experience their home. The Condo Guy is here for you when it comes time to buy or sell your condo or home.

Scam Alert! Three Mortgage Modification Scams to Watch out for (And How to Avoid Them)

Scam Alert! Three Mortgage Modification Scams to Watch out for (And How to Avoid Them)As if homeowners who are facing foreclosure don’t have enough to worry about, a multitude of loan modification scam artists have invaded the internet, public files and even foreclosure notices in newspapers in hopes of targeting their next victim. By identifying the top three modification scams and learning how to avoid them, at-risk homeowners can protect themselves (and their homes).

Never Pay For Mortgage Modification Assistance

Many desperate homeowners fall victim to scam artists who offer to provide them with assistance in the loan modification process for an exorbitant fee. Many times the scam artist who promises to provide assistance will require that the homeowner pay the fee upfront, after which they will provide very little assistance or simply take the money and run. Consumers should be aware that assistance and counseling services are offered for free through a number of reputable HUD approved counseling agencies.

Avoid Transferring The Deed

One popular scam that at-risk homeowners often face is the property deed scam in which scam artists promise to purchase the home in question, agreeing to let the desperate homeowner rent it out. They suggest that turning over the deed to a borrower with a better credit rating will offer additional financing opportunities, thus preventing the loss of the home. The scammer often promises to sell the home back to the homeowner, but in reality has no intention of doing so.

Many times the scam artist will sell the home to another buyer. In some instances, the crook will collect any processing fees, take the title to the home and any equity, and then leave the home to default. It is a good idea for consumers who are approached with a property deed scam to report it to the FTC.

Ignore Unrealistic Promises

Mortgage modification scammers often make promises to do such things as negotiate a solution to the foreclosure more quickly, process mortgage payments for the consumer while the negotiation is being worked out, or even guarantee a loan modification. Since the actual lender is the only one who can agree to a loan modification, and this solution requires additional processing time, overnight fixes are almost always scams. Additionally, consumers should never make mortgage payments to anyone other than their lender.

posted by Bill Desautels

P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com

The Condo Guy – Vermont condo real estate

The Condo Guy has been providing advice to buyers
and sellers of Vermont condos real estate
for nearly 30 years.

Real Estate sales and marketing in the Greater Burlington Vermont region has been my occupation and passion for more than 30 years. My focus has been on the sales and marketing of condominiums with a generous amount of single family home sales thrown into the mix. Each week I bring information of interest that not only focuses on the local home and condo real estate community but also provides context to the Burlington market in respect to larger market real estate trends. I enjoy feedback and the opportunity to meet my readers and experience their home. The Condo Guy is here for you when it comes time to buy or sell your condo or home.

Five Absolute Truths About the Vermont Home Buying Process That You Will Need to Come to Terms With

Five Absolute Truths About the Home Buying Process That You Will Need to Come to Terms WithBuying a home is one of the most exciting times that an individual will undertake in life. However, a property purchase is not without its challenges, and these can cause frustration. In this article we’ll share five potential setbacks that home buyers will need to understand and come to terms with to make a successful purchase.

Homeowner’s Insurance is Necessary

Most lenders will require insurance before financing is approved. To fulfill these requirements, the policy should be for at least one year and proof that the policy has been paid for must be presented. Purchasing the policy is something that must be done before closing can take place, so if you’re sure that this is the home for you, don’t delay.

Some Sellers Are Firm, No Matter What

In an ideal situation, the buyer and the seller come to a mutual agreement very easily. However, in most cases negotiation of some type is likely to be a part of the process. As with most negotiations, to reach success both sides will need to compromise.

Probate Properties Have Special Terms

When the original homeowner has died, there are certain considerations to keep in mind that do not typically apply to other types of property. One is the fact that there is a special process that must be completed before the property can be sold, even though the heirs may advertise the property as being for sale ahead of time. Another factor to keep in mind is that a recently probated property may have been uninhabited for some time and will be sold ‘as is’.

Loan Offers May Not Be Set in Stone

A common pitfall for many buyers is the assumption that home financing will be approved without issue. Unexpected circumstances may arise that cause a mortgage loan to be denied, which can cause an unprepared buyer numerous issues. Many sellers, in anticipation of such problems, have a contingency requirement.

Expect Caution from Sellers

If a seller treats your offer with caution or trepidation, don’t take it personally. Many homeowners have been burned during previous sales, and you have no idea what the seller has been through with potential buyers this time around. If someone is exercising caution, there’s likely a good reason for it.

In closing, remember that the best way to purchase a home is through a real estate agent. When you’re ready to jump into the property market, contact a trusted local agent and they’ll be ready to assist.

posted by Bill Desautels

P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com

The Condo Guy – Vermont condo real estate

The Condo Guy has been providing advice to buyers
and sellers of Vermont condos real estate
for nearly 30 years.

Real Estate sales and marketing in the Greater Burlington Vermont region has been my occupation and passion for more than 30 years. My focus has been on the sales and marketing of condominiums with a generous amount of single family home sales thrown into the mix. Each week I bring information of interest that not only focuses on the local home and condo real estate community but also provides context to the Burlington market in respect to larger market real estate trends. I enjoy feedback and the opportunity to meet my readers and experience their home. The Condo Guy is here for you when it comes time to buy or sell your condo or home.

3 Reasons Why Changing Your Vermont Kitchen And Dining Room Lighting Fixtures Can Increase Your Sale Price

3 Reasons Why Changing Your Kitchen And Dining Room Lighting Fixtures Can Increase Your Sale PriceIf you are considering selling your home, you may be wondering if there are things that you can do to increase your sale price. The truth is, you could spend thousands of dollars updating your home, but most homeowners will not want to put in such a large investment without knowing how much it will add to the selling price. Fortunately, there are more affordable things that can be done.

One affordable change to your home that can increase your sale price is to change your kitchen and dining room lighting fixtures. There are a number of reasons why this can work. Here are three of them:

Buyers are Looking for Entertainment Areas in New Homes

One reason that changing your kitchen and dining room lighting fixtures can increase your sale price is because buyers are looking for areas where they can entertain. Most people who are looking for a new home will be thinking about the things they can do with the home, and one of these things is entertaining their friends and family.

Buyers are willing to pay more on homes that have these nicely decorated areas, so updating your kitchen and dining room lighting can help to bring in a bit more money.

The Kitchen and Dining Room are the Center of Family Life

Another reason that people will pay more on a home with new lighting fixtures is because the kitchen and dining room are seen as the center of family life. In this scenario, buyers know that they will be spending a lot of time in these rooms and thus, want to be sure that these areas are nicely decorated.

New Kitchen and Dining Room Light Fixtures Will Brighten Up the Home

Finally, you will want to update the lighting fixtures in your kitchen and dining room because new fixtures can brighten up your home. You might have heard real estate agents talk about how important it is to have bright lights and open window shades during open houses since it can make your home look better. New, brighter lights can also help your rooms look bigger. Sometimes it will all come down to an optical illusion.

For more information on adding new lighting fixtures to your kitchen and dining room in order to increase sales, contact a local real estate professional. They will be able to give you some tips on these rooms and offer information on how you can spruce up the rest of your home before putting it on the market.

posted by Bill Desautels

P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com

The Condo Guy – Vermont condo real estate

The Condo Guy has been providing advice to buyers
and sellers of Vermont condos real estate
for nearly 30 years.

Real Estate sales and marketing in the Greater Burlington Vermont region has been my occupation and passion for more than 30 years. My focus has been on the sales and marketing of condominiums with a generous amount of single family home sales thrown into the mix. Each week I bring information of interest that not only focuses on the local home and condo real estate community but also provides context to the Burlington market in respect to larger market real estate trends. I enjoy feedback and the opportunity to meet my readers and experience their home. The Condo Guy is here for you when it comes time to buy or sell your condo or home.

How To Prevent Mercury Poisoning With CFL Light Bulbs

CFL bulbs require care when handling

According to the EPA, if every household in America replaced one “traditional” bulb with an energy-saving compact fluorescent lamp (CFL) light bulb, it would result in $700 million in energy cost savings each year, plus a greenhouse gas savings equivalent to that of 800,000 automobiles.

They’re expensive, but CFL bulbs tend to pay for themselves in less a year, and often last for several. It’s no wonder they’re so popular.  But, CFLs also come with health risks.

 

Namely, CFL bulbs contain mercury — an average of 4 milligrams per bulb.

 

The mere presence of mercury doesn’t make CFLs dangerous. It just means that you should exercise care when handling them, and take certain precautions when disposing of them.

The Environment Protection Agency offers some tips:

  1. Screw/unscrew the bulb from the base and not the bulb to prevent breakage
  2. Never force a CFL bulb into a light socket
  3. When the bulb burns out, bring it to one of 3,106 recycling centers

The EPA website also give guidance for dealing with broken bulbs. Among the recommendations: Don’t wash mercury-covered clothing to prevent contaminating other clothing, too, and don’t vacuum up the poison, either. There are special handling instructions to prevent poisoning yourself and others in your household.

The EPA’s CFL safety PDF is 3 pages long and can be viewed on its Web site.

CFLs provide long-term energy and environment cost savings. And, with some common sense care, their risks to your health can be minimized.

posted by Bill Desautels

P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com

The Condo Guy – Vermont condo real estate

The Condo Guy has been providing advice to buyers
and sellers of Vermont condos real estate
for nearly 30 years.

Real Estate sales and marketing in the Greater Burlington Vermont region has been my occupation and passion for more than 30 years. My focus has been on the sales and marketing of condominiums with a generous amount of single family home sales thrown into the mix. Each week I bring information of interest that not only focuses on the local home and condo real estate community but also provides context to the Burlington market in respect to larger market real estate trends. I enjoy feedback and the opportunity to meet my readers and experience their home. The Condo Guy is here for you when it comes time to buy or sell your condo or home.

Small Vermont Business Owner? Here’s What You Need To Know About Mortgages

Small Business Owner? Here’s What You Need To Know About MortgagesIf you are an entrepreneur or a small business owner, you probably know that there are a lot of advantages to this lifestyle – the freedom, the exciting challenges, the opportunities and the ability to make a living doing what you love.

However, you also know that being a small business owner can make some things more challenging – such as apply for a mortgage for your home.

Many small business owners find it tough to get approved for a mortgage, because their income can be erratic and the banks want to see proof of consistent earnings over a significant period of time.

However, it is possible to qualify for a loan as a small business owner. Here are some important things that you need to know about the process:

Ask Your Mortgage Lender What They Look For

If you ask your mortgage lender, they will probably offer you a checklist for putting together all the information needed in your mortgage package. It should have instructions on what specific documents you need to include if you are self-employed.

Filling Out The Right Forms

When applying for the loan, you will need to fill out IRS Form 4506-T, which is a Request for Transcript of Tax Return. This is basically a form that will allow the lender to look at your tax returns from the IRS, which shows proof of your earnings.

You are not able to show lenders copies of your tax returns – they must get them directly from the IRS themselves.

Submitting A Profit And Loss Statement

It can also help to ask your accountant to prepare a Profit and Loss Statement, which highlights the amount of money that you have brought in – compared to the expenses of setting up your business.

If you present several of these on a quarterly basis, it will prove to the bank that your business is growing and is profitable enough to cover your mortgage.

The important thing to remember is not to give up on the idea of owning a home just because you are a small business owner. Ask your accountant for help and take the time to submit the right proof of earnings, so that you get the mortgage for your dream home.

For more real estate advice, call or email your trusted real estate professional.

posted by Bill Desautels

P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com

The Condo Guy – Vermont condo real estate

The Condo Guy has been providing advice to buyers
and sellers of Vermont condos real estate
for nearly 30 years.

Real Estate sales and marketing in the Greater Burlington Vermont region has been my occupation and passion for more than 30 years. My focus has been on the sales and marketing of condominiums with a generous amount of single family home sales thrown into the mix. Each week I bring information of interest that not only focuses on the local home and condo real estate community but also provides context to the Burlington market in respect to larger market real estate trends. I enjoy feedback and the opportunity to meet my readers and experience their home. The Condo Guy is here for you when it comes time to buy or sell your condo or home.

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