Allison Jaffe's Blog
What happens after a home seller rejects your offer to buy his or her home? Ultimately, there are many questions to consider in this scenario, including:
1. Why did the home seller reject my offer?
A home seller may reject an offer for a number of reasons. And if you work with a real estate agent, you may be able to gain insights into a home seller's decision.
Typically, your real estate agent will submit an offer to a home seller on your behalf. This real estate professional also may work directly with a home seller's real estate agent. As a result, your real estate agent may be able to find out why a home seller rejected your proposal.
2. Is there anything else I could've done?
Were you an informed homebuyer? If so, you've probably done everything you could to submit a proposal that would meet or exceed a home seller's expectations.
In most instances, an informed homebuyer will go above and beyond the call of duty to submit a competitive offer from the get-go. He or she will understand the ins and outs of the housing market and prepare an offer accordingly.
Furthermore, an informed homebuyer will learn about the condition of a home and the prices of comparable residences in the same city or town. By doing so, he or she will be able to differentiate a seller's market from a buyer's one.
An informed homebuyer also will do everything possible to avoid a "lowball" proposal.
If a homebuyer submits a lowball offer, a home seller is likely to dismiss his or her offer immediately. In addition, this homebuyer risks missing out on the opportunity to purchase a great home.
3. What should I do next?
After a home seller rejects your proposal, you can submit a new offer to the home seller. Or, you can always continue to browse the housing market. Regardless of which option you select, it is important to stay optimistic.
Remember, there are plenty of fish in the sea. Much in the same vein, you're sure to find a terrific house that satisfies your lifestyle and budget needs if you continue your home search.
When it comes to discovering the right home at the right price, hiring an experienced real estate agent is paramount.
An experienced real estate agent will work with you throughout the homebuying process. He or she will learn about your homebuying needs and budget and ensure you can check out a broad array of high-quality residences.
Moreover, an experienced real estate agent will take the guesswork out of buying a home. This real estate professional will keep you up to date about new houses as soon as they become available, set up home showings and much more. That way, you can accelerate the process of going from homebuyer to homeowner.
Employ an experienced real estate agent to help you with your home search – you'll be thrilled you did. An experienced real estate agent will make it simple for you to find a stellar residence that you can enjoy for years to come.
The trim is one of the trickiest parts of a home to be properly painted or stained. There’s many steps that must be taken for the trim to be painted well including:
- Nailheads must be set below the surface of the wood
- Holes need to be filled and sanded
- Damaged wood must be repaired and replaced
- Old paint and varnish must be removed
The work that needs to be completed on both the walls and the trim should be done before you begin painting and staining. There’s no rule as to when you should paint the trim -before or after the walls are painted- the only thing that matters is that the prep work should be done before the painting step begins.
When you’re stripping the surface, wear protective glasses along with a dust mask. The chemicals that you’re using can contain toxic fumes. The room needs to be ventilated properly as well. Wear gloves to keep the chemicals off of your hands. You’ll also protect your hands from splinters.
As an additional precaution, when you’re painting, you’ll want to test for lead. Many homes may have lead paint in them, especially those that were built prior to 1978. You can remove lead paint yourself if you take the right precautionary steps, but in some cases, you may need a professional to do the job.
Get The Trim Ready For Painting
Once the trim has been scraped down, you’ll want to wash the surface of the trim with a mild household cleaner. Then, rinse it with water or a water and vinegar mixture and let the trim dry. Scrape any remaining loose paint from the trim.
Sand The Trim
Use a small flat sander to sand the walls or woodwork. For more contoured surfaces, try to use a flexible sanding block. These flexible sanders work great for more curved surfaces.
Have A Strategy
If you’re a less experienced painter, it will be easier if you paint the trim first. This will make it much smoother to prepare the details and paint all of the details. Once you paint the trim, mask it off with painters tape. This will prevent any splattering from occurring while you’re painting of the walls.
Tips For Painting The Trim
Once you complete all of the prep work for painting the trim, use a primer. Next, topcoat the trim using some kind of a latex or enamel. Remember that glossy surfaces accentuate the woodwork in a home, making it stand out from the walls. Moldings, doors and windows require a higher sheen than a wall since there’s more contact on these surfaces.
Painting trim can be challenging, but when you do it safely and in the right order, your painting job will go much more smoothly.
Whether you spend most days working on residential real estate sales as I do or occasionally embark on buying or selling a home, you’ll have stories to tell. In most instances, you won’t know whether to laugh or cry; eventually you’ll probably do both.
There are beauracratic time bombs in municipal records that can explode when real estate is sold – stalling or killing a sale. The high-stakes efforts to disarm these explosive typos or buried issues from decades past can equal the suspense of a cinematic timer ticking down – but without the certainty of a Hollywood ending.
Having waded deep into the municipal records of an attached row house in the Baychester section of the Bronx, I discovered that the NYC Department of Buildings (DOB) and Department of Finance (DOF) records did not match in their lot-number identification of my client’s property. The DOB attached that street address to Lot #59 while the DOF attached the same street address to Lot #60.
It turned out the Department of Buildings had incorrectly assigned the lot number of the house next door to my client’s property. That case of mistaken identity alone could delay our sale indefinitely. But to heighten the tension, the house next door carried unpaid fines of roundly $206,000; money the DOB could seek to collect from the sale of the house they had misidentified. This bomb was ticking as we made plans to sell the house.
The Seller hired an attorney to prove this error to the DOB while we hired trades people to ready the house for sale. Tick, tick, tick. Over several months, the DOB traced the problem to their record keeping that erroneously shifted the lot numbers of six attached rowhouses when an alley behind those houses was closed decades earlier. Tick, tick, tick. We found a buyer for the house and they applied for their mortgage. Tick, tick, tick. The DOB sent an inspector to see the row of houses in question. Tick, tick, tick. For some reason, the DOB required a letter from the Bronx Borough President’s office stating that the street address was in fact sitting on Lot 60. Tick, tick, tick. The Buyer’s loan was approved and the closing date was scheduled. 10 . . . 9 . . . 8 . . . 7 . . . Would the DOB correct the records before the closing date and the Buyer’s loan commitment expired? 6 . . .5 . . . 4 . . .
The DOB issued a correction letter noting that it would take several months to change the actual public records. 3 . . .2 . . .1 . . .0! That was enough to satisfy the lender and the title insurance company -- and to make sure NYC did not try to collect $206,000 from the proceeds of this sale.
You can’t make this stuff up.
Watch for future tales from the world of real estate!
Allison Jaffe, Copyright 2018
After you accept a buyer's offer to purchase your house, it may be only a few weeks until you finalize your home sale. However, problems may arise that slow down the home selling process. And if these problems linger, they may stop your home sale altogether.
As a home seller, it is important to do everything possible to ensure the home selling journey is quick and seamless. If you know what to expect after you accept a buyer's offer to purchase your residence, you can prepare accordingly.
Now, let's take a look at three tips to help you wrap up a home sale.
1. Negotiate with a Homebuyer As Necessary
Typically, a homebuyer will request a house inspection after his or her offer to purchase your residence is accepted. This appraisal will enable a buyer to identify any underlying problems with your home. It also may lead a buyer to request a price reduction or property repairs in order to finalize a home sale.
Although you may have allocated significant time and resources to upgrade your residence before you listed it, a home inspector still might identify assorted house issues. In this scenario, you should be ready to negotiate with a homebuyer to find a solution that satisfies the needs of all parties involved in a home transaction.
2. Remain Patient
Ultimately, the period between when you accept an offer to purchase your house and closing day may seem endless. At this time, try to remain patient and focus on the big picture, and you may be better equipped than ever before to limit problems that could slow down your house sale.
It generally is a good idea to be open to communication with a homebuyer as well. If you keep the lines of communication open with a buyer, both parties can work together to ensure a home sale goes according to plan.
3. Collaborate with a Real Estate Agent
For those who are stressed out about the home selling journey, there is no need to worry. In fact, if you work with a real estate agent, you can receive expert guidance at each stage of the home selling journey.
A real estate agent is committed to helping you achieve the best-possible results. He or she will collaborate with you throughout the home selling journey and help you identify and address any potential home selling hurdles.
Let's not forget about the assistance that a real estate agent provides after you accept a buyer's offer to purchase your home, either. At this point, a real estate agent will keep you up to date about a home inspection request and the final results of an inspection. Plus, as closing day approaches, a real estate agent will help you get ready for the big day.
Take the guesswork out of selling your house – use the aforementioned tips, and you should have no trouble wrapping up a home sale.
The lifetime warranty. We’ve all heard about the wonders of owning an item with a lifetime warranty, but few of us actually own such products. Well, few of us are aware of it anyway.
The home is where we pour most of our money into. It seems like things are constantly breaking and needing to be replaced or repaired. But few of us check to see if the item has a manufacturer’s warranty. Nor do we remember if we bought an extended warranty.
In this article, we’re going to give you some tips on how to take advantage of warranties you may not know that you have, and how to shop wisely for warrantied products in the future.
But first, we’ll impart some general warranty knowledge.
Understanding the warranty
A warranty is a written guarantee provided to the purchaser of an item that they will repair or replace the item if it isn’t functioning as intended.
In most cases, there are time limits and exceptions to a warranty. Manufacturers know that their products won’t really last forever, so they plan for the eventual breakdown of the product from wear and tear.
Similarly, manufacturers don’t want you to misuse the product and then ask for a replacement, so they list exceptions to their warranties. To find out if one of your household items is under warranty, you can often check the manufacturer’s website.
To ensure you’re eligible for a warranty or replacement, it’s often necessary to have a copy of your purchase receipt which shows where and when you bought the item.
We know--keeping track of receipts is an annoyance few of us want to participate in. So, an easier solution is to keep an app like Google Drive or Dropbox on your phone with a folder called “receipts” or “warranties.” Then, the next time you make a purchase, simply snap a photo of the receipt and keep in in your drive.
Extended warranty warning
Many retailers will pitch you an extended warranty when you buy a product. Some of them are worth it, but most of the time you’re better off foregoing these add-ons.
Oftentimes, products are already covered by a manufacturer warranty. And, in some cases, the cost of the item is so low that owning a protection plan isn’t worthwhile.
Warrantied items you may not know about
Now that you know how to keep track of your warranties, let’s talk about some important items that you may not know has a warranty.
Roofing. Roofs are expensive and don’t last forever. However, many manufacturers promise 20 years of good service from your shingles.
Vinyl siding. Another expensive exterior item, siding is often warrantied by common manufacturers, including several “limited lifetime warranties.”
Tupperware. If there’s one product on this list you’ve probably heard of, it’s Tupperware. They’ve been famous for their lifetime warranties for decades.
Pampered Chef. This company makes an array of kitchen related products. Many of their items come with lifetime warranties.
Craftsman. Their power tools are affordable and include a lifetime warranty.