Questions to Ask Before You Decline an Offer on a Home

What happens if you receive an offer on your home that fails to meet your expectations? Ultimately, you may want to decline the offer. But before you do, there are several questions you’ll want to consider, including:

1. Is the offer “fair”?

Let’s face it – one home seller’s definition of a “fair” offer may differ from another’s. However, an informed home seller will be able to differentiate a “lowball” offer from a strong proposal.

A lowball offer typically fails to account for a home’s condition and the current state of the housing market. As such, this proposal may fall far below a home seller’s initial asking price.

On the other hand, a strong proposal may meet or surpass a home seller’s initial asking price. This offer likely accounts for a home’s strengths and weaknesses, along with the needs of a both the homebuyer and home seller.

2. Are there any other offers on the table?

If you receive an offer on your home, you’ll probably have one to two days to decide how to proceed. And if you have multiple offers in hand, you likely have a lot to think about in a short period of time.

In some cases, the best offer is not necessarily the highest offer, and for good reason.

For instance, a homebuyer may submit an offer on a home that exceeds a home seller’s initial asking price. But if this homebuyer has not been pre-approved for a mortgage, he or she likely will need to obtain financing to proceed with a home purchase.

Conversely, a homebuyer who has been pre-approved for a mortgage knows exactly how much money is at his or her disposal. When this homebuyer submits an offer, he or she may be better equipped than other homebuyers to acquire a residence.

3. Can I afford to be patient?

Consider your timeline as you debate whether to decline an offer.

If you’re in no rush to sell your home, you can afford to be patient with offers on your house. Or, if you want to relocate to a new address as soon as possible, you should price your home aggressively from the get-go.

4. If I decline an offer, what will happen next?

After you decline an offer on your home, the homebuyer has the option to submit a new proposal or move on to other houses.

As a home seller, it is important to take an informed approach to home offers. With a real estate agent at your side, you should have no trouble making the best decisions on any proposals.

A real estate agent understands the ins and outs of the housing market and can help you evaluate all offers on your residence. He or she can provide you with honest, unbiased real estate recommendations and ensure you can get the best results during the home selling journey.

Collaborate with a real estate agent – you’ll be glad you did. A real estate agent will enable you to evaluate home proposals and maximize the value of your house.

Tips for Selling a Home in a Seller’s Market

Want to add your house to the real estate market? If you’re operating in a seller’s market, you may be able to generate plenty of interest in your house as soon as your residence becomes available.

A seller’s market commonly features an abundance of homebuyers and a shortage of home sellers. As such, a home seller who lists a high-quality residence in a seller’s market could earn a significant profit.

Operating in a seller’s market offers many opportunities for home sellers who prepare accordingly. Lucky for you, we’re here to ensure you can get the best price for your residence in a seller’s market.

Now, let’s take a look at three tips to help you optimize the value of your house in a seller’s market.

1. Complete a Home Appraisal

A home appraisal will help you understand your house’s strengths and weaknesses. That way, you can perform any home improvement projects before you list your residence. You may be able to boost your chances of a quick property sale too.

Typically, a home appraisal requires just a few hours to complete. A home appraiser will visit your residence and inspect it both inside and out. Then, this appraiser will provide you with a report that details your home’s condition.

Review the results of a home appraisal report closely. By doing so, you can prioritize various home improvements and work toward transforming your ordinary residence into one that will stand out in a seller’s market.

2. Analyze the Housing Market

How does your residence stack up against comparable houses that are currently available? Examine the housing market to find out.

Evaluate the prices of houses that are similar to your own. This may help you establish a realistic price range for your residence.

Also, look at how long recently sold properties were available before they were purchased. This may help you understand how long it might take for you to get the best price for your residence in a seller’s market.

3. Collaborate with a Real Estate Agent

When it comes to selling a home, there is no reason to embark on the property selling journey on your own. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market experts are happy to assist you in any way they can.

A real estate agent can provide details about what to expect before you add your residence to a seller’s market. He or she will help you plan ahead and ensure your residence features an awe-inspiring exterior and flawless interior that differentiate your property from others.

Moreover, a real estate agent will help you alleviate stress throughout the home selling journey. This housing market professional can respond to your home selling concerns and questions and provide plenty of guidance to help you make informed decisions.

There is no need to leave anything to chance when you list your home in a seller’s market. Instead, take advantage of the aforementioned tips, and you should have no trouble stirring up interest in your house.

How To Make The Most Of Your Small Living Room

Having a small living room gives you a great chance to cozy up and feel snug. It’s not such a disadvantage to have a small living space. If you buy the right furniture and place it accordingly, your small space can have big personality. For example, buying a larger sofa takes up more room than a love seat, yet you may be able to fit a love seat and two chairs in the same space. This gives you the ability to seat more people. Pro tip: Armless chairs are great for small living rooms.

If you’re short on space in your home, you can use the corners of the room for other purposes. Tuck a desk with your computer in a part of the living space to help you make the most of the area that you do have. This helps to give the room multi-functional purposes with style.  

Use Focal Points

Like every room of any home, you need a focal point. Does your small living room have a fireplace? Hang some art above the fireplace, in order to help both pieces stand out. Using that area of the room as a focal point gives the appearance of a larger room. Keep away from over-stuffing a room with furniture and decor, as it will appear smaller. 

Bring Out The Height Of A Room

You can make a small room feel bigger if you bring out the height of the room. Hang paintings a bit further up the wall than normal. You don’t want to make the space look awkward, but think outside the box to use the upward space of a small room. You may even consider placing molding type materials between one foot to a foot and a half from the top of the ceiling. 

Stacking Furniture Helps

No, we don’t mean for you to stack your furniture pieces on top of each other. You could place a cabinet behind the back of a sofa that’s facing in the opposite direction. This can help to save space and create a feeling of divide in between rooms. This could also be a handy way for you to place tables next to chairs- directly against them- in order for guests to have a handy place to put drinks or appetizer plates.              

How To Make An Entrance

Many times, the living room is also the entrance to the home. Your living space can also serve as the home office or a dual dining space. For these purposes, keep everything smooth. If you make a color transition from room to room, be sure that it’s subtle and well thought out. The overall color palette should be similar.