Lawton Real Estate, Inc



Posted by Lawton Real Estate, Inc on 8/6/2020

Buying is home is a lengthy and, at times, stressful process. So, it can be discouraging when your offer is rejected.

If youíve recently had a purchase offer rejected by the homeowner, donít worry--you have options.

In this post, weíre going to cover some of those options so you can start focusing on your next move and potentially even make a second offer that gets accepted.

1.  Reassess your offer, not the seller

You could spend days guessing the reasons the seller might not have accepted your offer if they didnít give you a straightforward answer.


However, your time is better spent addressing your own offer. Double check the following things:

  • Is your offer significantly lower than the asking price?

  • If so, is it lower than comparable sale prices for homes in the neighborhood?

  • Does your offer contain more than the usual contingencies?

Once youíve reassessed, you can determine if a second offer is appropriate for your situation, or if youíre ready to move onto other prospects with the knowledge youíve gained from this experience in hand.

2. Formulate your second offer

So, youíve decided to make another attempt at the house. Now is the time to discuss details with your spouse and real estate agent.

Out of respect for the sellerís time and their timeline for selling the home, you should treat your second offer as your last.

So, make sure youíre putting your best offer forward. This can mean removing those contingencies mentioned earlier or increasing the amount. However, be realistic about your budget and donít waive contingencies that are necessary (commonly appraisals, inspection, and financing contingencies).

3. Consider including a personal offer letter

In todayís competitive market, many sellers are fielding multiple offers on their home. To set yourself apart from the competitors and to help the seller get to know your goals and reasoning better, a personal letter is often a great tool.

Donít be afraid to give details in your offer letter. Explain what excites you about the house, why it is ideal for your family, and what your plans are for living there.

What shouldnít you include in your offer letter? Avoid statements that try to evoke pity or guilt from the seller. This seldom works and will put-off most buyers to your offer.

4. Moving on is good time management

If you arenít comfortable increasing your offer or if you receive a second rejection, itís typically a good idea to move onto other prospects. It may seem like wasted time--however, just like a job interview that didnít go as planned, itís an excellent learning experience.

Youíll walk away knowing more about the negotiation process, dealing with sellers and agents, and you might even find a home thatís better than the first one in the process!




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Posted by Lawton Real Estate, Inc on 4/30/2020

For many individuals, the homebuying journey often begins with getting pre-approved for a mortgage. Because if a buyer has a mortgage, he or she can enter the real estate market with a budget in hand.

Ultimately, there are many signs that now may be the perfect time to apply for a mortgage, and these include:

1. You're ready to upgrade from an apartment to a home.

If you're tired of paying monthly rent for an apartment, purchasing a house offers a viable alternative. And if you get pre-approved for a mortgage, you can move one step closer to moving from an apartment to a house.

In most instances, a home offers a significant upgrade over an apartment. Many residences are available in cities and towns nationwide that offer more space than apartments. Plus, as a homeowner, you won't have to worry about dealing with a landlord.

2. You feel good about your credit score.

If you have a strong credit score, you likely are a great candidate for a mortgage. In fact, you may be better equipped than others to get a favorable interest rate on the mortgage of your choice.

Understanding your credit score is a key part of the homebuying journey. You can request a free copy of your credit report annually from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Then, once you find out your credit score, you can determine whether you are in good shape to pursue a mortgage.

3. A buyer's market is in place.

In a buyer's market, there usually is an abundance of top-notch houses and a shortage of buyers. This means a homebuyer may be able to get a wonderful deal on a house, especially if he or she performs a comprehensive house search.

To find out whether a buyer's market is in place, you should check out the prices of recently sold houses in your area. Also, you may want to find out how long recently sold houses were listed before they sold. By reviewing this housing market data, you can differentiate a buyer's market from a seller's market and decide whether now is the right time to apply for a mortgage.

If you're interested in getting a mortgage and starting a house search, you may want to hire a real estate agent too. Because if you have a real estate agent at your side, you can receive extensive support at each stage of the property buying journey.

A real estate agent will teach you everything you need to know about pursuing a house. He or she will offer insights into the local housing market and ensure that you can conduct a successful house search. And if you ever have concerns or questions along the way, a real estate agent is ready to respond to them.

Want to launch a home search? Get pre-approved for a mortgage, and you can take the first step to acquire your ideal residence.




Tags: Mortgage   Buying a home  
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Posted by Lawton Real Estate, Inc on 4/16/2020

If you want to purchase a home, it may be beneficial to check out the residences available in a major city. In fact, there are many reasons to pursue a city house, and these include:

1. You can live near a variety of attractions and landmarks.

Most cities provide quick, easy access to attractions and landmarks. And if you purchase a city residence, you can explore a wide range of attractions and landmarks any time you choose.

Of course, it generally helps to plan ahead if you intend to buy a city residence. If you enter the real estate market with a homebuying strategy in hand, you can narrow your city house search to residences near your preferred attractions and landmarks.

2. You can upgrade or downgrade from your current residence.

If you find your current residence no longer matches your needs, don't stress. Houses are available in cities around the country so you can upgrade or downgrade from your current home.

Oftentimes, it helps to get pre-approved for a mortgage before you start to explore city residences. If you are pre-approved for a mortgage, you'll know exactly how much you can spend on a city home. Then, you can hone your city house search and speed up the homebuying journey.

3. You can find a residence close to family members and friends in the city.

If your family members and friends frequently rave about life in the city, now may be the perfect time to join them. And if you kick off a city house search, you can find a great home that allows you to live close to loved ones.

The city real estate market often fluctuates, and a housing sector that favors buyers today may shift into sellers' favor tomorrow. Thus, if you want to buy a city home near loved ones, you should allocate time and resources to learn about the local housing sector. Because if you have housing market insights at your disposal, you can differentiate a buyer's market from a seller's market and prepare accordingly.

As you get ready to launch a search for a home in the city of your choice, you may want to hire a real estate agent too. By employing a real estate agent, you can get the help you need to streamline your city house search.

Typically, a real estate agent will meet with you, find out where you want to reside in your city of choice and help you budget for the homebuying journey. He or she also will keep you up to date about city residences that meet your homebuying criteria. And if you find a city residence that you want to buy, a real estate agent will help you submit a competitive offer to purchase this home.

Simplify the process of locating and purchasing your ideal city home. Hire a real estate agent today, and you can receive extensive assistance at each stage of the property buying journey.




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Posted by Lawton Real Estate, Inc on 2/27/2020

Setting up and completing a home inspection may seem like a long, arduous process. However, an inspection is a must-have for any homebuyer, at any time.

With a comprehensive home inspection, you can identify any potential problems with a house. And if you don't like what you find in an inspection report, you can always ask a home seller to complete improvements or reduce his or her asking price. Or, if you prefer, you can walk away from a home sale altogether.

Ultimately, there are several steps that you'll want to follow to conduct a home inspection, and these are:

1. Find an Expert Home Inspector

When it comes to a home purchase, there is no need to leave anything to chance. Fortunately, if you hire an expert home inspector, you can avoid the risk of missing possible issues during a home inspection.

Not all home inspectors are created equal, so you'll want to evaluate all of the options at your disposal.

To kick off your search for a home inspector, browse the web. This will enable you to find dozens of home inspectors in your area and assess online client reviews.

Also, don't hesitate to ask a home inspector for client referrals. If you obtain client referrals, you can better understand whether a home inspector can match or exceed your expectations.

2. Attend Your Home Inspection

Although homebuyers are not required to attend a home inspection, it generally is a good idea to walk with a home inspector as he or she examines your residence. By doing so, you may be able to gain home insights that might not be included in a home inspection report.

A home inspector may notice home problems that range from minor to severe. The inspector's job is to identify a problem and include it in a home inspection report.

If you attend a home inspection, an inspector may be able to provide you information about potential home problems, along with an estimate about how much assorted home repairs may cost. That way, you are better equipped than ever before to determine whether potential home problems could deter you from buying a house.

3. Evaluate the Home Inspection Report

A home inspection report can play a key role in the homebuying process. If you evaluate this report closely, you can learn about a home's strengths and weaknesses and decide whether to proceed with a home purchase.

If you have questions regarding a home inspection report, you can always follow-up with the inspector that provided the assessment. This will allow you to obtain the insights that you need to make an informed homebuying decision.

Lastly, it certainly helps to collaborate with a real estate agent before, during and after a home inspection. A real estate agent will guide you along the homebuying process and ensure that you can get the best possible results.

Follow the aforementioned steps, and you should have no trouble conducting a home inspection.





Posted by Lawton Real Estate, Inc on 2/20/2020

Becoming a home owner for the first time is an exciting milestone for Millennials! Going from renting an apartment to owning your own property represents a big transition from dependency to independence.

For many people, it even symbolizes making the leap from childhood to adulthood. Once you're a homeowner and a property taxpayer, there's often a newfound feeling of being more established and successful.

While home ownership may bestow upon you a boost in status, the added responsibility of paying for your own repairs, maintenance, and upkeep can take an unexpected toll on your budget. With a little extra planning, however, you can avoid many of the pitfalls of home ownership.

Looking at the Big Picture

Here's a misconception that sometimes creates a financial strain for first-time homeowners: "If we can afford to pay $1800 in rent, every month, then we should be able to afford monthly mortgage payments in that same amount!" While that premise may sound logical, there are a few crucial "missing pieces" from that equation -- pieces which could throw your household budget out of kilter!

In addition to the costs associated with purchasing real estate, such as a down payment and closing costs, there's also the matter of home repairs and property maintenance. Depending on where you decide to live, there could be other fees to absorb, too, including garbage collection, yard waste removal, and water usage. Other expenses that first-time homeowners may overlook include the cost of buying a lawnmower, a snow blower, yard maintenance supplies, tools, and furniture. That's why creating a detailed estimated budget, based on your income, debts, and anticipated expenses can help you determine whether you're truly ready to take the plunge into homeownership.

Enlisting Professional Help

A mortgage broker or bank loan officer can provide you with assistance in calculating your financial readiness for purchasing a home. A good real estate agent can also offer insights and guidance into the process of finding, buying, and owning a house you can comfortably afford. They should be able to provide you with vital information about school taxes, property taxes, average utility bills, homeowner association fees (if any), and any issues revealed in the seller's disclosure form.

One way to avoid -- or at least be prepared for -- costs that often accompany home ownership is to have a qualified property inspector take a close look at the condition of everything in the house from the basement and attic to major appliances and structural features. They can generally tell you whether there are any concerns about mechanical systems, water in the basement, foundation damage, issues with property drainage, the electrical system, potential plumbing problems, and dozens of other vital checkpoints

Whether you're a first-time house hunter or a seasoned homeowner, it pays to understand, anticipate, and budget for the many costs of being a property owner. While owning your own home can be a rewarding and satisfying experience, a guiding principle to keep in mind as you consider available homes on the market is "caveat emptor" (Let the buyer beware)!




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