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What Happens When You’re Up Against An All-Cash Buyer in Redlands CA and Area?

houses for rent in redlands ca area

You’ve found the perfect Redlands Home For Sale, and you qualify for a mortgage to pay for it. But as you submit your offer, you find out that you’re up against an all-cash buyer. Before you give up on that home, give it a minute – you might be surprised to find that the seller actually prefers your offer to the cash one.

When it comes to making offers and negotiations, don’t neglect the importance of a reputable real estate agent. They’ll help make sure you understand the properties you’re interested in but will also help you present your case to sellers in the strongest light possible. Cash deals tend to move rapidly, so your agent will help you make sure your financing paperwork is ready to go as quickly as the seller needs.

Work with your agent to help sort out the seller’s motives. If they are just looking for the highest offer, you’ll know based on the feel of the house when you look at it. On the other hand, if they’ve been in the house for decades and it has a personalized look and feel, they may prefer someone who wants to enjoy their home – not worry about someone who wants to change or destroy what they’ve built.

If you’re up against an all-cash buyer, you need to make sure your financing paperwork is in perfect shape. To convince the seller that your financing is set and you are ready to buy, show them any documents that apply to your mortgage, like:

  • Pre-approval letters
  • Proof of employment
  • Positive bank statements
  • Your credit score

Many agents also recommend writing a letter to the sellers to show them that you are a real person looking for a home to cherish. Tell them what you like about the house, how you envision yourself or your family enjoying it, and you’ll make a compelling case against buyers hiding behind cash offers. For your Corona starter home, tell them about your dreams of children playing on your front lawn, and your plans for making a home there. It never hurts to try.

About US

Redlands California Homes for sale is run by Results Group. Jessica, Alan and Justin have been part of this community since birth for some of them. If you are looking to sell a home, buy a home or just have questions about real estate in general  in and around Redlands California such as Highland, San Bernardino, Yucaipa, Calimesa, Cherry Valley, Beaumont, Hinda, Moreno Valley, Bloomington or surrounding area, contact us at (909) 345-0909 or @ info@kwresultsgroup.com. One call is all it will take for you to understand why we have top reviews and provide a zero pressure approach to real estate. Have an expert for all your Redlands California Homes for Sale and area for your real estate needs.

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6 Reasons Why You Should Work With A Seller’s Agent To Sell Your Redlands CA Home

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Are you ready to list your Redlands CA home for sale?

If so, you might be laser-focused on your listing price, and dreaming of all the things you could do with that money. At this point, it’s not uncommon for sellers to consider selling their home themselves to maximize the total amount they take home from the deal.

But selling your home isn’t just a matter of putting a for sale sign out front, there are days and weeks worth of work that go into making sure you close your deal with the terms you want. If you’re getting ready to sell your Redlands house, these are six reasons to work with a listing agent.

  1. Marketing: To reach the biggest selection of buyers, you need to take advantage of online listing sites and physical marketing. A seller’s agent will have all of the tools required to reach the right buyers professionally.
  2. Pricing: An agent that works exclusively or mostly with sellers will be an expert at pricing your Redlands home. If your home is listed too high, it will sit, and if it’s too low, you won’t get all that you need out of it.
  3. Photography: Your cell phone shots of your home probably aren’t going to do it justice in the eyes of buyers. A seller’s agent will know the right photographers and settings to make your house shine.
  4. Honesty: You may think the lanai you installed in the back of your house is a show-stopper and should boost up your home’s price. Your agent, on the other hand, will be able to tell you honestly which improvements demand higher prices, and which hold more emotional meaning for you than buyers.
  5. Staging: Your home should look neutral enough that when potential buyers enter, they can see themselves living there. An agent will advise you on what furniture to toss, things to put away and even paint colors and finishes that will make your home look upgraded.

6. Negotiating: Selling your home can be an emotional process, and working with an agent means that there are no emotions during critical negotiations.

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Who Pays Closing Costs During A Real Estate Sales Transaction in Redlands CA and area?  

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If you are selling your home, you’ll be responsible for a host of costs, including real estate commissions. Whether you’re listing a multi-million dollar home in Riverside County or your starter home nearby, you’ll likely hand over a chunk of change when you receive your sales proceeds.

But what about closing costs? These can include everything from covering the cost of agreed-upon repairs to a homeowner’s association transfer fee, and for buyers, can end up costing between 2-5% of the sale price. Sellers can end up responsible for even more, as much as 5 to 10% of the sales price. However, not all closing costs are paid for by sellers, and in some cases, you may be responsible for none of the applicable fees.

Common Seller-Paid Closing Costs

The most significant cost you’ll have to pay at closing is real estate commissions, including that of the listing agent and selling, or buyer’s, agent, and can include additional agents involved in the process as well.

You’ll also need to pay any outstanding taxes due as of the sales date, and any outstanding homeowner’s association costs.

Common Buyer-Paid Closing Costs

The majority of a buyer’s closing costs will be related to their mortgage. They’ll need to pay application fees, origination fees, appraisal fees, insurance, and other line items. Buyers will get a Loan Estimate when they receive a loan that will outline potential closing costs and will receive a Closing Disclosure three days before closing that confirms these amounts.

When Closing Costs Become Part Of Negotiations

Buyers will sometimes ask sellers to take on closing costs instead of a reduction of the purchase price. When faced with paying $20,000 on the day of closing or paying $20,000 less in your mortgage over the life of your loan, the former may be much harder to come up with, and hence, becomes a point of negotiation. For sellers, the amount evens out the same for your total proceeds.

Source

https://www.consumerfinance.gov/ask-cfpb/what-is-a-closing-disclosure-en-1983/

https://www.consumerfinance.gov/about-us/blog/know-before-you-owe-loan-estimate/

 

About US

Redlands California Homes for sale is run by Results Group. Jessica, Alan and Justin have been part of this community since birth for some of them. If you are looking to sell a home, buy a home or just have questions about real estate in general  in and around Redlands California such as Highland, San Bernardino, Yucaipa, Calimesa, Cherry Valley, Beaumont, Hinda, Moreno Valley, Bloomington or surrounding area, contact us at (909) 345-0909 or @ info@kwresultsgroup.com. One call is all it will take for you to understand why we have top reviews and provide a zero pressure approach to real estate. Have an expert for all your Redlands California Homes for Sale and area for your real estate needs.

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Real Estate Contingencies: How Do They Work For Sellers in Redlands California?

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One of the most challenging parts of selling a home is dealing with multiple offers and negotiations. You might think that the best offer is going to be the one with the highest price, but there are situations in which the highest offer may not actually be in your favor.

Contingencies are terms that come along with an offer and are most often what gets negotiated with potential buyers. Contingencies can deal with everything from financing to home repairs, so it’s important to know which of these are in the best interest of sellers, and which will benefit buyers.

When you work with a real estate agent to sell your home in Redlands, CA, they’ll know how to negotiate some of these contingencies, and can advise you about those to avoid.

Contingencies That Benefit The Seller

A primary contingency for some sellers is proof that the buyer can actually pay for the property they are interested in. You could ask for letters from lenders, financial statements, and other information that verifies they can go through with the sale when you’ve accepted the offer.

It’s not a recommended path, but some sellers will add in a contingency for finding a new home, to guarantee that they don’t sell their house only to discover they don’t have another one ready to move into. If you’re worried about this, a better option is to set a specific time period – say, three weeks – and after that time period you’ll have a choice to continue with the sale or cancel it. Keep in mind, this kind of contingency may end up scaring away buyers who don’t want to deal with the chance that a sale will fall through.

Contingencies That Benefit The Buyer

Most contingencies are going to be in favor of the buyer as they are the ones writing you a big check. However, many of the most common contingencies will actually benefit both of you in the long run, as you’ll be less responsible for any future problems related to these specifics:

  • Home inspections
  • Lead-paint inspections
  • Property restrictions
  • Home appraisals
  • Clear titles

Whether or not you choose to accept these contingencies should be a decision made between you and your real estate agent. However, dealing with these problems now can protect you from liability in the future.

 

About US

Redlands California Homes for sale is run by Results Group. Jessica, Alan and Justin have been part of this community since birth for some of them. If you are looking to sell a home, buy a home or just have questions about real estate in general  in and around Redlands California such as Highland, San Bernardino, Yucaipa, Calimesa, Cherry Valley, Beaumont, Hinda, Moreno Valley, Bloomington or surrounding area, contact us at (909) 345-0909 or @ info@kwresultsgroup.com. One call is all it will take for you to understand why we have top reviews and provide a zero pressure approach to real estate. Have an expert for all your Redlands California Homes for Sale and area for your real estate needs.

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Selling Your Home in Redlands CA and Area? Time To Hide Those Eyesores  

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You’ve decided to list your Redlands, CA home for sale – now what?

While you’ll need to hire a real estate agent, decide on a price, and deal with all of the others ins and outs of selling a home, one of the first steps you can take is to declutter your home. The earlier you start this process, the less you‘ll have to scramble when it comes time to hold real estate showings and open houses. Not to mention, clearing out your home of unnecessary stuff now will make it easier on you when it comes time to leave your home for the last time.

These 18 easy tips can help you hide your eyesores that will detract from your home’s first impression on prospective buyers.

  1. Clean everything.
  2. Add a coat of paint to your garage door.
  3. Paint your interior walls with a low-sheen finish; matte tends to attract a mess and high-gloss will show every imperfection on your wall.
  4. Charge your devices in a drawer.
  5. Cover wires from electronics.
  6. Replace shower curtains
  7. Spruce up ugly tiles with a bit of paint or refinisher.
  8. Refinish your bathtub in a weekend with a DIY kit.
  9. Hide trash bins in the pantry or under your counters.
  10. Hang or store bathroom accessories and tools.
  11. Cover bedsprings with a bed skirt or do-it-yourself with some fabric and a staple gun.
  12. Get weatherproof storage bins to hide outdoor trashcans.
  13. Cover thermostats and circuit breakers with a little artwork.
  14. Use chalkboard paint to cover heavily-used doors or other areas that are susceptible to dings.
  15. Cover laminate counters with adhesive or paint-on faux-granite.
  16. Disguise ugly fences behind hedges.
  17. Replace bulbs and even outdated light fixtures.
  18. Use rugs inside to cover old carpeting, and outside to bring a pop of color.

About US

Redlands California Homes for sale is run by Results Group. Jessica, Alan and Justin have been part of this community since birth for some of them. If you are looking to sell a home, buy a home or just have questions about real estate in general  in and around Redlands California such as Highland, San Bernardino, Yucaipa, Calimesa, Cherry Valley, Beaumont, Hinda, Moreno Valley, Bloomington or surrounding area, contact us at (909) 345-0909 or @ info@kwresultsgroup.com. One call is all it will take for you to understand why we have top reviews and provide a zero pressure approach to real estate. Have an expert for all your Redlands California Homes for Sale and area for your real estate needs.