When we made an offer on our house, Ira really kicked into high gear. Ira recommended inspectors and even met with them when we were not available. Our inspection team identified that major engineering work was required on the foundation and retaining walls in the yard. Thanks to Ira’s skillful negotiations and experience, we were able to convince the seller to reduce the purchase price by $180,000 from our initial offer!
Thanks again Ira and Carol for helping us purchase this fantastic house at a great price.
Congratulations! The Seller Accepted Your Offer!
It’s time for us to open escrow with a local title company, arrange inspections, and schedule the appraisal.
Escrow is held by a neutral party who takes funds from the buyers, the deed from the seller, and other sales documents from both. Escrow handles the insurance, taxes, and loan payoffs; then records the sellers deed to you once the loan’s full funded and all other conditions are met.
We’ll connect you with the title company so they can tell you where to wire your deposit funds.
Caution: Be sure to receive and/or confirm wiring information with a phone call to the title company. Spammers have been known to monitor un-secure emails and send
Inspections
Your inspection contingency gives you the opportunity to know everything you can about your home, how much the repairs would cost, and have all your questions answered!
Your inspections might include a 2nd home report, structural engineer or contractor review, and electrical upgrade, heater or roof replacement estimates.
We’ll also carry out a competent visual inspection of the property on your behalf and prepare our Transfer Disclosure Statement listing any home defects we observe.
Most of the time your reports confirm what you already know. When new repairs are revealed, we can often negotiate seller credits and/or price drops for you.
Negotiations
We love negotiating for our clients. One reason we’re effective is that we personally represent only a buyer or seller on a transaction, so we can be a strong advocate for you.
Our record price drop is $180,000 … and we’re always looking to beat that record!
Work and repair which have been disclosed before buyers make their offer are generally off the table for subsequent renegotiation. That’s one reason sellers create a disclosure package with inspection reports .
We have the highest probability of getting you seller concessions when they’ve not provided inspection reports prior to your offer, since anything which shows up is new information.
As your advocate, we always put your interest first.
Being dealt Aces!
I recall one transaction where our buyer was getting concerned about all the new (and correctable) problems the inspectors found. I felt like I was being handed bargaining chips (or being dealt aces, depending on your game), and told her not to worry. We prepared a list of the repairs, asked for a $25,000 as a credit / price drop, and got it all for our buyer.
#RealEstate #Buyer #BuyerBroker #Serkes
