What’s Negotiable? The Basics Of Real Estate Negotiation For Buyers And Sellers

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When it comes to buying or selling a home, there’s more to negotiate than just the selling price. Buyers and sellers need to be aware of their options. An experienced realtor can provide guidance, but the decisions are up to you.

What you can negotiate

Here are four areas other than price that allow for negotiation:

·        Closing costs

Because this process is expensive for everyone, the buyer may ask the seller to pay some of the closing costs depending on what their lender allows. This may increase the selling price so the seller doesn’t actually pay anything out of pocket.

·        Needed repairs

Unless the seller specifies that the home is being sold as-is, this is another are that leaves room for negotiation.

·        Home warranties

Even a home that looks good after an inspection can have some issues with the A/C or plumbing later on. Many buyers want a home warranty as an extra layer of protection after they buy. Some sellers offer home warranties, but it’s not unusual for a buyer to ask for one.

·        Appliances and Furniture

While dishwashers and stoves are normally part of the package, things like refrigerators, washers, and dryers are not. In fact, the buyer may even want to keep some furniture items.  This could increase the sale price, but it could also be a way for the seller to make concessions without having to lower their price.

The process of negotiating

Who has the advantage in the negotiations often depends on the market. In a seller’s market, the seller doesn’t have to do a lot of negotiating to get their house sold. They can go with whatever buyer gives them the best offer. In a buyer’s market, if a seller doesn’t give a little to the buyer’s demands, the buyer could just move on to another home.

The buyer and seller can both benefit by being represented by realtors. Their realtors will understand the contracts and negotiations.  Also, your realtor can let you know how friendly the market is to negotiating from your side. In Brazos Valley, you need a realtor that can tell you what the market is like by area. A house in Bryan and a house in College Station may look the same on a website, but a realtor can give you the full picture based on local markets.

A U.S. News & World Report article that gives negotiating tips for homebuyers is an enlightening read for both sides. One thing that stands out is the recommendation to have a real estate agent help you through the process. The article points out that just because it’s easy to find home listings online, that doesn’t mean you should go it alone. A realtor is an asset.

There is always a little room for negotiation on both sides. A local realtor can help you make an offer or decide if an offer is acceptable based on the market. Whether you’re buying or selling you can get through this process with expert help from a local realtor.

Is Remodeling Worth the Cost?

Photo by Carlos Porto

If you want to increase your home value before you sell, make sure the projects you choose are worth the money you spend on them. You’re looking for the highest return on investment. It may be better not to do any remodeling at all, depending on your situation.

You probably won’t get all of your money back

Investopedia says that you’re unlikely to get back the amount you spend on a remodel dollar for dollar. However, in a slow market, a remodel could bring in buyers that would have otherwise passed on your home.

You need a realtor

This is where an experienced realtor can help you. She can give you an idea of what the market is like and what remodels pay off in your area. When it comes to real estate, it’s all about the local housing market. In Brazos Valley, call realtor Sarah Miller for help selling your home.

Think about where you are

If your house is already one of the more expensive ones in the neighborhood, further improvements may scare away buyers. One of the things buyers consider is neighborhood.  Part of the reason they may be drawn to your neighborhood is the price. Make sure you don’t improve your home well beyond what can be found in the same neighborhood or you could be looking at more of a loss. People looking for more expensive houses are likely looking in another neighborhood.

However, if you have one of the lower end houses in the neighborhood, fixing it up might bring in more money.  It can be worth it to do a little bit of work to bring your house up to the average of the neighborhood.

Also, think of geography. Do swimming pools increase home values in Bryan-College Station, Texas?  Since this is a warmer climate it could be worth it, but your realtor will let you know about the current market.

Location is everything in real estate.  Before you invest in a remodel, ask your realtor if it’s worth it for your location.

Look at Data Online

A site that may help you make your decision is Remodeling.net. They give the average increase in value to your home based on your region and type of remodel. The amount you get back from your investment varies. Most of the time, you get less than you spent.

Smaller upgrades to your home will likely have a better return on investment than a large remodel. A fresh coat of paint and a good cleaning will help improve the value of your home with less expense. The real reason to do a remodel is for you to enjoy the home. If you’re selling the home, it may not be worth it.

Ask your realtor if there are upgrades that you can make to make your home more appealing to buyers in your area. Your realtor will have the latest numbers about the market and will have experience with what local homebuyers are looking for. Call a local realtor in Brazos Valley, Texas to help you sell your home.

6 Tips to Increase Your Home Value Before You Sell

Photo by Stuart Miles

When you decide to sell your house, you may not know where to put your effort into fixing up your house. How can you spruce up your home to make it more attractive to buyers and bring in more money?  Here are cost effective ways to get your home ready to sell.

1)     Reduce Clutter

You can have a garage sale, or put your things in storage. Either way, emptying out your home of clutter makes the space feel bigger. It also gives the buyers a chance to imagine putting their own things in the home. Make sure to target your closets. Your closet should only be ¼ full so the buyer can see how much space there is.

Get personal photos out of sight and when it comes to décor, one handy tip is to remove any decorative items that are smaller than a basketball. Make a statement, but leave plenty of open space.

2)     Make minor repairs

Is the front gate squeaky or does it fail to close? Do all of your plumbing fixtures work?  Repairing what you can will get you through the inspection process a little better. Flaws found during the inspection are often viewed by buyers as an opportunity to renegotiate the price. Fix all of the little things the buyer or their inspector might notice.

3)     Maintain the landscaping

The first thing buyers see is the outside of your house and the front yard. If there’s a large untrimmed tree in the front It detracts from the beauty of your home and may even block the view. Trim your trees and hedges. Mulch is cheap. A couple of bags of neatly edged fresh mulch in the front garden or around the hedges can make your house look well cared for.

Trim back any vines or plants that look overgrown. Just like you don’t want a cluttered house, you don’t want a cluttered lawn.

4)     Make the front door and entryway welcoming

Impress buyers as soon as they step up to your doorstep. Make sure the porch is meticulously clean and modestly decorated. A large well-cared for potted plant can add beauty without detracting from the space.

Your front door should be as close to flawless as you can get it. You can add updated door handles along with a fresh coat of paint or varnish.

Then look at your foyer or entry. When the homebuyer walks in, they’ll make some decisions fast. You want them to fall in love, instantly. A clean, open entryway can make the house feel larger.

5)     Brighten the place up

Make sure the house is well lit. Change out light bulbs that are too dim and open the blinds. Lights should brightly shine in the rooms with the least natural light. It will make your home feel more inviting and cleaner.

6)     Check out the floor

Flooring can bring a good return on investment, and it doesn’t have to be expensive. Steam clean carpets, and repair your wood floor. Scratches in laminate flooring can be covered up with the right color marker. Make the floor look brand new. If you can’t make it look new, then consider getting new flooring.

Make sure you have a realtor working for you before you sell your house in Bryan-College Station. Your realtor will help you get the most out of your house in Brazos Valley.

Brand New Texans

If you’re moving to Central Texas from another state, then let me say welcome new Texan! Our state has a lot to offer.  Whether you’re moving to the Bryan-College Station metro area anywhere in Brazos Valley, we’re happy to have you as our neighbor. Let me take you through some things that will make it a little easier to settle into your new home in the Brazos Valley and the State of Texas.

How do I find the right home?

Call a realtor in Brazos Valley. It’s hard to know what the right area is or what the commute times will be if you aren’t familiar with the community. Realtors have that information. If you have a realtor working on your side, you’ll find what you need.

How do I file for homestead exemption?

Texas has no state property tax. However, there are local property taxes. The state comptroller’s office explains this in detail and provides links to how to file for any property tax exemptions that may be applicable to your situation.

Where do I go about my license plates and driver license?

First, you need the license plates.  TxDMV explains how to do that.  The requirements for new Texans to get new plates are found here. TxDPS has the information you need about your driver license. It has a section specifically for people moving to Texas and includes information for teens with learner licenses.

Where do I register to vote?

There are a few ways to do it, but to find out the easiest way go to VoteTexas.gov.  You’ll find a form you can download and mail in or locations where you can show up to fill out the form in person. It’s the go-to site for questions about voting including how to find your nearest polling place.

What is there to do around here?

It depends on what you want to do today.  If you want to go shopping, Downtown Bryan might be the place to go.  On the other hand, if taking in some culture sounds better, there are museums. What about sports? You’re in luck, we’ve got the Aggies.  There are even wineries to visit.  The Visitors Bureau can get you up to speed on everything happening around town and the best places to go.

Moving to Texas was a big decision. There are a lot of state and local agencies with websites that can help you make your transition to being a Texan. Your realtor will be a big help in the process. Brazos Valley is a beautiful place to live and a great choice for anyone to invest in their future.

Buying real estate in Brazos County is a lot easier with a realtor by your side. If you need any help finding the right property, call a realtor that knows the Brazos Valley.  You can find a lot of help online, but nothing beats having a local there to help you find the right place at the right price. Call Sarah the Realtor when you’re ready to buy or sell property in Brazos Valley.