Real Estate Information | Let us create a 3d Digital eBook for you! DigyCat.com |
|
Timing Clauses Stop Sellers From Inciting Bidding War
It is no secret that the current real estate market is hot, hot, hot. Sellers can receive multiple bids for their property on the same day. In the rush of the moment, your emotions can carry you into a bidding war. Using timing clauses can help avoid such a situation and protect you from buyer's remorse. Timing Clauses - Drop Dead! A timing clause is inserted in an offer to avoid open-ended bidding wars. You do not want your offer to be "on the table" indefinitely. Such a situation inevitably leads to a bidding war where sellers "auction" up the price of home to a sellers benefit. To avoid this, you should choose to put a "drop dead date" on your offer. You would include language that says something like, "This offer is open until withdrawn or until 9:00 P.M. on Tuesday, June ____, 20__, whichever comes first." Let's look at an example of how a hypothetical situation might work out. Say the asking price of the home is $995,000. Your offer is $995,000 with a drop dead date of September 1, 2005. On August 29, 2005, the seller informs you of a competing bid for $1,000,000. While your immediate reaction is to panic and up your offer, you should instead calmly ask to see the competing offer. If the seller drags their feet or won't produce it, the bluff is called. Now the seller has to make up their mind before the 1st. They may decide not to accept your offer, but at least you will have avoided bidding against yourself. Alternatively, if the seller produces a competitive bid, you will know where you stand and make an informed decision on whether to raise your bid. Timing clauses are fairly standard practice in most parts of the country. Make sure you use one to force the seller to make a decision. You don't want to be left twisting in the wind. Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
MORE RESOURCES: |
RELATED ARTICLES
You Wanna Get High With Me? Being a home inspector is great. It's fun, it's interesting, and I get to meet wonderful people. An Often Overlooked Secret of Marketing and Negotiating for Real Estate Investors Looking for Deals When you call sellers, what do you say? When you sit down to write a marketing postcard to find deals, what do you write? When you go to negotiate price and terms, how do you present it?These are scary situations and it is not unusual to be at a loss for words at such times. In fact, you may avoid these situations all together just so you don't have to face the overwhelming fear. 5 Factors of Selling a Home There are five major factors to consider when selling a home. These factors will greatly influence not only the final price you will get for the property, but also how quickly it will sell and how much grief you will suffer through the sale. What is a Home Inspection? Any Sally and Sam Homebuyer can look at a home and decide whether it is attractive. They might notice it is freshly painted in pleasing colors, has the requisite number of rooms, a cook's kitchen and is located in a location with top schools. Back To The Future - Big Changes Are Coming, Get Ready Now The comments below are quoted from a recent speech by Ben Bernanke, a member of the Federal Reserve Board of Governors.. Buying Land For Development Requires Careful Planning and Execution From the desk of Colm Dillon .. Guide To Finding Maui Waterfront Property Have you ever dreamed of living in a spectacular tropicalparadise where you spend your days sitting on a beachwatching the waves roll in? Where the air is clean, theclimate always warm and your neighbors are always welcomingyou with warm smiles and sincere hellos? The place you'vealways dreamed of is probably Maui. Whether you're lookingfor a waterfront vacation property, a new place to live andwork or are considering options for retirement, purchasinga Maui waterfront property could be the answer to yourtropical paradise dreams. Investing in Real Estate Like a Stock A REAL ESTATE STOCK PLANGetting out of the bleachers and into the game!This report is going to explain or attempt to give the stock market investors a basic one-on-one interview with a real estate portfolio manager who has consistently made a profit on 100% of the investment products that were actively chosen and managed. Never a loss, always tax advantaged and sheltered. Home Staging Strategies Who are you preparing your home to sell to?You, as a home seller, have two initial choices.1. Ten Myths Of Real Estate Investing Is real estate investing only for the wealthy? Can you buy with no money down? Do you have to know the "right" people? Let's answer by looking at some of the myths of real estate.1. Should Sellers Order a Pre-sale Home Inspection? One of the main reasons home sale transactions fall apart is inspections. This happens when something unanticipated is discovered during the buyers' inspections of the property, and the buyers and sellers can't agree on a remedy. Real Estate Investing In Belize Any trip to Belize starts fantasies of owning a beach villa, or a jungle resort. There are a lot of North Americans in this English speaking, former English colony. 11 Different Ways to Participate in The New Millennium Real State Boom Many parts of the country are going through a real estate boom. In recent reports real estate is showing double digit growth in many parts of the country. Property Types A, B, C And D One of the biggest problems individuals just starting out have is the type of property they look for, and working outside their immediate area. One of the constants around the country and for every state, is that there are the most desirable areas to live and the least desirable; and then those that fall in between. A Crash Course On The Payout Options Available To You When Selling A Mortgage Note Okay, let's take a look at the typical payout options:Full Purchase - The investor buys the entire note. This alleviates the seller of the responsibility to collect payments in the future. Successful Property Letting And Management Successful Property Letting And Management is not something that just happens, it is something that has to be worked at, and planned professionally. When a landlord or an agent has a problem let, it is almost certainly to do with the suitability of the selected tenant. Is a Vacation Home Right for You? Many of us dream about owning the vacation home in the Mountains, or on the Lake or Ocean. A place where one can retreat periodically from the hustle-bustle of everyday life. Young Couple Buys Ranch with Government Money Kirk and Tina Sczepanik had a dream. They wanted a ranch of their own. Dealing With Dual Real Estate Agents Historically, real estate agents have represented the seller of a property. The seller, after all, is usually the one who pays their commission, and agents therefore have a fiduciary relationship with the seller. Real Estate Bubble: Sophisticated Musical Chairs? The real estate bubble is a hot topic today; annual appreciation and housing prices have never been higher in most U.S. |
List4Sale Domain Is For Sale - $10,000 For Enquiries eMail Us © www.List4Sale.biz 2012 |