Peter J Beauchemin - LAER Realty Partners/Beauchemin & Assoc.



Posted by Peter J Beauchemin on 11/25/2018

If you are on the fence about whether to accept or reject a homebuying proposal, it is important to remember that a third option is available: countering the offer.

By countering a home offer, you can set the stage for a negotiation with an interested buyer. If a buyer accepts your counter-proposal, you and the buyer can move forward with a purchase agreement. Or, if a buyer rejects your counter-offer, you can always continue to seek out proposals from other potential buyers.

Before you counter a home offer, it is important to know what to expect after you make this decision. That way, you can feel confident about your decision to counter a homebuyer's proposal, even in a high-pressure situation.

Now, let's take a look at three tips to help you analyze a home offer and determine whether to counter it.

1. Assess the Housing Market

The housing market ultimately may play a key role in how a home seller approaches an offer. Because if a seller examines the real estate sector closely, he or she may gain actionable insights that can be used to differentiate a "fair" proposal from a "lowball" offer.

Look at the prices of comparable houses in your city or town, as well as the prices of recently sold residences in your area that are similar to your own. Then, you can use this information to take a data-driven approach to analyze an offer. And if you decide to counter an offer, you can rest assured that your decision is backed by relevant real estate insights.

2. Review Your Home's Pros and Cons

Oftentimes, it is beneficial to consider your house's age and condition as you review an offer. This will enable you to account for any potential home repairs and the costs associated with them Ė something a buyer also may do before he or she submits an offer on your home.

Don't forget to consider the strengths of your home as well. If you recently performed a series of home upgrades, you probably accounted for these house improvements when you set the initial asking price for your home. Thus, you should have no regrets about countering a home offer if it fails to match your expectations.

3. Consult with a Real Estate Agent

Hiring a real estate agent is crucial, particularly for a home seller who is uncertain about how to proceed with a home offer. A real estate agent can help you evaluate all aspects of a home offer and make it easy to submit a counter-proposal as needed.

Typically, a real estate agent will offer expert home selling recommendations. He or she also will respond to your home selling concerns and questions and ensure you can make an informed decision about any offer, at any time.

Ready to review an offer on your house? Use the aforementioned tips, and you should have no trouble deciding whether to counter a homebuying proposal.





Posted by Peter J Beauchemin on 9/16/2018

An offer to purchase represents a key milestone in the homebuying journey. Ultimately, it helps to plan ahead to ensure you're ready to submit a homebuying proposal. Because if you know what it takes to put together a competitive offer to purchase a house, you can boost the likelihood that a home seller accepts your proposal.

Now, let's take a look at three tips to help you get ready to submit an offer to purchase.

1. Study the Housing Market

The housing market fluctuates frequently. As such, you may enter a real estate market that favors buyers but slowly shifts into sellers' favor, or vice-versa. But if you examine the real estate sector closely, you can differentiate a buyer's market from a seller's one and submit an offer to purchase that accounts for the current housing market's conditions.

If homes are selling quickly at or above their initial asking prices, you may be working in a seller's market. Comparatively, if houses linger on the real estate market for many weeks or months before they sell, you may be operating in a buyer's market. As you start to craft an offer to purchase a house, you should analyze the real estate market. By doing so, you can submit an offer to purchase that matches a seller's expectations.

2. Get Your Finances in Order

Entering the housing market with a budget in hand usually is beneficial. If you get pre-approved for a mortgage, you can narrow your house search and stick to a budget as you pursue your dream residence.

Banks and credit unions can teach you everything you need to know about fixed- and adjustable-rate mortgages. Perhaps best of all, lenders employ mortgage specialists who can respond to your mortgage concerns and questions. If you collaborate with a lender today, you can get the financing you need to buy a house. Also, you can conduct a search for homes that fall within your price range and reduce the risk of submitting an offer to purchase that surpasses your budget.

3. Avoid a "Lowball" Offer

Submitting a "lowball" offer to purchase a home may seem like a good idea at first. Yet submitting a homebuying proposal that falls short of a seller's expectations is unlikely to help you acquire your dream house.

In most instances, a seller will instantly reject a lowball offer to purchase. And if you receive an immediate "No" from a seller, you risk missing out on the opportunity to purchase your ideal residence.

Allocate time and resources to craft a competitive homebuying proposal Ė you'll be glad you did. Otherwise, you run the risk of putting together a lowball offer that will miss the mark with a seller and force you to look elsewhere to purchase a house.

Lastly, if you need extra assistance as you perform a house search, you may want to hire a real estate agent. By employing a real estate agent, you should have no trouble crafting a competitive offer to purchase any home, regardless of the housing market's conditions.




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Posted by Peter J Beauchemin on 3/25/2018

Let's face it Ė reviewing an offer to purchase can be difficult. And if a home seller feels unsure about a homebuying proposal, this individual may want to consider rejecting the offer to purchase.

Ultimately, there are many reasons why a home seller may decline an offer to purchase, and these include:

1. An offer to purchase fails to meet a home seller's expectations.

If a home seller receives a "lowball" offer to purchase, he or she may submit an instant rejection. In fact, this seller likely will have no regrets about declining the offer to purchase and continuing to wait for a homebuying proposal that matches his or her expectations.

As a home seller, it is vital to establish realistic property selling expectations before you list your residence. If you set a competitive initial asking price for your home, you may reduce the likelihood of getting lowball homebuying proposals. And as a result, you may be better equipped than ever before to speed up the home selling journey.

2. A home seller has multiple offers to purchase at his or her disposal.

If a home seller receives multiple offers to purchase his or her home, this individual likely has a tough decision to make. Fortunately, a seller can review his or her options and make an informed decision.

When a home seller receives several offers to purchase his or her residence, there is no need to rush to reject or accept a proposal. Instead, a seller should evaluate each homebuying proposal closely and use all of the information at his or her disposal to determine the best course of action.

3. A home seller can afford to wait.

If a home seller lists his or her residence in a buyer's market, the demand for houses may be limited. Conversely, if a seller lists a home in a seller's market, this individual may receive many offers to purchase as soon as his or her residence becomes available.

Sometimes, a home seller who can afford to be patient may choose to reject an offer to purchase in a buyer's market, even if the proposal is competitive. Because if the seller waits for the real estate market to improve, this individual may be able to optimize the value of his or her residence at a later time.

For home sellers who are committed to getting the best price for a home, it generally is a good idea to employ a real estate agent. This housing market professional will help a seller establish a competitive initial asking price for his or her residence. Plus, a real estate agent will set up open house events and home showings to promote this house to potential buyers. And if a seller receives an offer to purchase, a real estate agent can recommend whether the seller should reject, accept or counter the proposal.

Want to list your house and streamline the property selling journey? Hire a real estate agent, and you can work with a home selling expert to evaluate any offers to purchase your residence.





Posted by Peter J Beauchemin on 2/4/2018

Sometimes, being in the hunt for a home feels like being in a race you canít win. You should craft an offer that they cant refuse in order to get ahead on the house hunt. The real estate market can be hot or cold. No matter what the market is like, having a solid offer can be very beneficial to you as a buyer. Hereís some tips for you to get the offer you make accepted:


Get Preapproved


When you get preapproved, youíre showing the seller that youíre a serious buyer. Being preapproved gives you a shorter closing time and helps you to clear any financing hurdles before you get to them.


Avoid Lowball Offers


Make sure that you check out the prices of other homes in the neighborhood. Your real estate agent can help you to do this research. Often, youíll need to offer the asking price or above if itís a sellerís market. If all the research leads you to offer somewhere in the neighborhood of the asking price for a home, youíll want to abide with that.


Too Many Contingencies Turn A Seller Off


The financing contingency is the agreement that is put forth to help a buyer get out of the deal if financing falls through. Youíll need to be sure that you actually have the cash on hand to help you if the appraisal falls short, however. While this isnít recommended, it can give you a leg up in the buying process if you know what youíre doing. 

Another thing that you might consider is waiving the inspection. This does however, remove the ability to be sure that a home is in livable condition. This is another way to give yourself an advantage in the home search process, but itís not recommended. A better way to keep the inspection and streamline the process is to shorten the inspection time by having the inspector ready to go immediately.  


Add A Clause To Increase Your Amount


You are able to add an escalation clause into a deal. This will automatically increase your deal by a predetermined amount if the seller gets more than one offer on the home. Thereís a cap on these deals, so it doesnít work like an auction. Itís a good option and it causes sellers to have to disclose the competing offers. Typically, this wouldnít be the case. The only way youíd be out of the deal is if other offers exceed your cap.


Be Smart With Negotiations


You can offer to pay closing costs and home warranties instead of the seller having to pay them. Costs associated with the closing can be extensive, so offering to pay these fees can be very appealing to the seller. 


Get Personal


Itís difficult for sellers to part with the home that they love. If you get a bit personal and write a letter or send a video message to the sellers, you may often appeal to them on another level. In the letter, you may want to address how well the sellers have taken care of the home and express your desire to continue your life in the home in the same fashion. Many times, this is really a great way to connect with your seller and give you a better chance of getting your offer accepted.




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