Buyer feedback: a power full tool for sellers.

Buyer and agent feedback can be a powerful tool for a seller if they look at it as a way to correct objections of that have found items they can improve or correct to make their home sell faster. Remember the feedback isn't to critize you; it to help you correct what you can correct to get your home sold faster. Please remember that people have didfferent opinions and points of view. If you get feedback with specific items that are of small dollar value don't complain about them, ask yourself can I correct this and turn the feedback around to help me get my home sold. If someone trips on something and it can be moved to a location out of the way or off the property then move it. Don't say the buyer should be able to see that and leave it there for someone else to fall over. Just be glad no one got hurt that fell or almost feel and the "critism" is to help you not to hurt you or to keep others from being hurt if the item is a safety issue. So look around and see that there are no tripping hazards, no loose hand rails or items in the walkway that someone could fall over or get caught on or in.

Will your loan consider the commission as part of the sales price?

If you financing a loan you need to know that the gross sales price listed is what the basis of your loan will be based on. Auctions and other deals that require the buyer to pay this as a listed item tha do not include this in the sales price (1) require the buyer to pay this entire amount, (2) rarely if ever allow this as part of the gross sales price in the maximum mortgage calucation, (3) may result is a loan for the reduced lower sales price that would not otherwise appriase if the commission were included, (4) require more cash out of pocket for buyers in an already cash strapped market, (5) create a red flag for buyers, lenders, and agents that the sellers financial position maybe limited or in poor standing, (6) may result in a slightly lower excise tax on the sales price less the commision, and (7)may result in other unexpected fees or conditions to the sale the buyer may assume that they do not anticipate like outstanding taxes, liens, and hidden "as is- as found" conditions. In all cases, ask prior to showings or offer if the commision is in the price or not and insist that the appraisal value include all buyer common expenses normally on the sellers side of the HUD-1 statement or assumed seller expenses. Often when the commision and extras items are added in the deal isn't quite as good or may make a big difference to the buy in waste time, opportunities, and expenses.

Less or More

Less is often more: this is what you need to tell yourself before placing a home on the market. Less in a room creates more space. You don't need to step over or around items or look past them. It's easier for buyers to visualize the space. Less stuff equals more room. Less items in a room or yard allow for more flow of traffic or viewers. Removing tables and extra items that don't add to the roomy feeling only limit the use for the space. So pack up those extra tables and clutter holders and bookcases that your taking with you and move them to off property storage. Give away or donate the rest. Set deadlines for others to pickup the items they are using your place for storage because that space is needed to show your property off to its best advantage. Clutter looks like trash that takes away from space. The more space you have the cleaner your property will look and feel. It will also be easier to clean so you only need a few minutes to pick up each room as you exit it so its always in showing ready condition.

Does your listing have the wow factor?

I don't have to tell you that every buyer or seller can tell you this is the deal maker. You either have it or you don't. Its the view, the surprise feature or look that once you see it you want it and you have to have it. It differs from buyer to buyer. But once you see it you know what that it is. You know you have it when your buyers start placing furniture, assigning rooms for themself and family members, and stop listening. You will often actually here them even say wow! So if you dont have the wow factor ask your self what the one thing your home needs to get a wow form your buyer that works with your budget. It can be as simple as freshing up one room, landscaping, decluttering if you already have a wow factor that is being obstructed by clutter. In a bath it can be a new vanity, a whirlpool tub (one person tubs get used - oversized tubs create water bills). In a kitchen it can be countertops, new cabinets, adding or removing an island, rearranging the cabinets and appliance for a good working triangle, repainting or refacing the cabinets and new hardware. New hardware on doors. Hardwoods that cleam are almost always a hit

As always: Show me the money is key to any Real Estate or large purchase

Many people ask what is the most important item for buyers prior to making an offer.

Without a doubt its financing. The answer is simple you need to know you can buy and the seller needs to know the sale will close and that you are a real buyer. Sellers and sales agents need to know you are a real buyer for safety reasons also.

Buyers list for financing consideration:
(1) You need to know how you plan to fiannce the purchase and proof of cash portion for the purchase.
(2) You need to know what your maximum purchase price.
(3) You need to know how this costs works with your budget or you need to modify your maximum purchase price to a budget friendly purchase and all related costs.
(4) You need to know the amount you need for a deposit, escrows, closing costs, & reserves.
(5) You need to know if funds need to be moved and how long after they are moved when they will be avialble.
(6) You need to know if you current rental or owned property situation so you don't end up paying for multiple unanticpated expenses or if changes need to be made to insure a transition from one to another location or purchase if this is a primary residence or investment involved in a timely exchange or multiple tranactions. You also need to know if you will penalized if you curently property rental stops or closes before a specific holding period.

Sellers list for buyer qualifications items:
(1) You need to know the buyer can buy your home or large purchase item and that the property for sale is a financable item under for the buyers lender.
(2) You need to know they are a real buyer.
(3) You need to be able to plan on a repurchase or funds reinvestment options if you or the buyer is effected by selling or refinancing other real estate, ccontingencies, or are disontinuing a current lease or tenant at will agreement.
(4) Without a preapproval or proof of funds sellers don't want you wasting anyones time looking, inspectiong, or negotiating offers. You most likely will here Thanks but not thansk to an offer if you cant show you can close at the time of an offer ( if you make it that far).
(5) You can say no if the buyer cannot finance the purchase under the terms acceptable to you. (Buyers never like to here this but its true. If you cant buy you cant buy: case closed.)
(6) If you have unapproved buyers for you sales item make sure you or or agent has a lender resource for the purchaser to visit immediately prior to any negotiations so you don't loose buyers that can [rpve they can buy.

After this, you can then decide on why younare purchasing, where you are purchasing, what (the location & area amenities, property amenities and type of property you want to purchase and amenities), timing of purchase, and options if you cant find a purchase or correct time a purchase and resale.

So start out on the right foot. Get your financning inplaace so you know you can buy before you consider looking.

Sellers or Buyers market depends on the area

Knowing if your in a buyers or sellers market depends on the city or town you are located in at the time you are making a purchase. The amount or lack of inventory has a lot may make the price more or less negotable. If there are a shortage of houses buyers may find themself in a multiple offer situation where financing and terms of the offer matter more to the seller. Larger deposits or shorter closing times with fewer contingencies are more common. On the other hand with a large inventory and fewer offers buyers are more likely to be few to the seller with a better chance of a buyer terms more agreeable to the seller. In a sellers market prices may start edging higher unless sellers receive cash offers. Areas with large amounts of cash buyers may see larger jumps in prices. Areas with financed offers will only edge up slightly becasue appriasal guidelines demand comparable sales for the lenders to finance a loan. You'll know if your in a sellers market when you see few homes for sale in the town(s) or area(s) your looking to become an owner. If there are wtill a lot of foreclosures or short sales in your city or town you may still be in a market in a buyers market in sections or with some neighborhoods in flux even if towns surrounding you are in a sellers market. If you are a ready, willing and able seller or buyer looking to list your property or buy in central MA contact me at maureenhbrennan@aol.com

Reason to look for home or investments without a/c a hot day.

(1) You may be only on looking.
(2) If your the only one looking your the only one bidding or making an offer.
(3) If your the only offer the seller sees to day your the only offer the seller is considering unless its the offrs will not be looked at for several days or notice is needed to get in to the property.

PS: bring plenty of cold liquids in a cooler. Unless the property is cool expect to be dripping wet after entering closed up properties. You can always go to an air condtioned location or car to writ eup an offer afterword. Remember your approval or proof of funds and checkbook on every offer.

Looking out doors. Bring plenty of bug repellent. Where look pants and sleeves to avoid ticks and poison ivy, oak or summac and bug bites.