Buyers ... Stay Informed on the Local Market

If you’ve been following the series you may already know that I have recently had many clients ask about what contingencies are in a real estate purchase agreements and how best to use them so they are protected and get a good deal. So I have put together a series of blogs to explain what they are and the best way to use them.

It is very uncommon to have a purchase agreement in Fremont without contingencies. In fact, contingencies are an essential part of many offers for homes in Fremont. In general, contingencies are added to protect you (the buyer) but may also serve to protect the seller.

All of the contingencies of a purchase agreement must be met before a Fremont home sale can be competed. In this first series I discussed some examples of contingencies and the most common ones in a Fremont purchase agreement. In part two, I discussed who writes contingencies, and who they protect. In the third I discussed how contingencies can be used as deal points. In this final blog I will be letting you know how to use a contingency to get yourself a better deal, and also how to avoid unnecessary contingencies.

You Can Use A Contingency to Get Yourself a Better Deal

The skillful negotiator will use contingencies to improve the deal. And there is really no limit to the type of contingency you can craft. Deal points can be over anything ranging from the date escrow closes to the specific closing costs the buyer and sellers must pay.

A great way to start negotiating is to find the sellers weak point and apply the pressure there. For example, the sellers may absolutely need to close the deal within 25 days so that they can purchase a new Fremont home. You agree as long as they add new carpet, lower the price, repair the sprinklers, and leave the ceiling fans. In this way, they have met their criteria by giving you the superior deal.

Remember, that although contingencies are great points for negotiations, they are there to protect you. They offer you an easy way to back out if something goes wrong.

Avoid Unnecessary Contingencies

Sometimes when Fremont home buyers discover the great protective value of contingencies, they insist that extra ones be placed in the purchase offer. For example, you insist that the purchase become contingent on you not losing your job before the deal closes. (You pretty much get this protection in any event, since if you lose your job, the lender probably won’t give you a mortgage, and you can back out using the financing contingency.)

Or you insist that the deal be contingent on your not getting ill during the escrow period, or your spouse not falling out of love with the home, or you getting approval of the purchase from your parents. Remember, you can make the deal contingent on anything!

The problem is that each time you add a contingency, you weaken the deal. The sellers ask themselves, “Why does the buyer insist on this?” If the quickest answer is that the buyer is wishy-washy and may not go through with the deal, the sellers may simply refuse to sign. You may squash a perfectly marketable deal simply by insisting on unnecessary contingencies.

As many Fremont real estate agents have witnessed, lawyers can ruin an otherwise marketable deal by adding contingencies favoring their clients to the point where the other party simply won’t go along. While legal advice is great, sometimes common sense and human nature play a stronger role.

Thank you for taking the time to read the information I have made available to you. This information is brought to you by your Fremont real estate expert Clyde Brown.  If you are considering buying or selling property, planning to relocate, looking for Fremont homes for sale, or looking for any other information about real estate in the Fremont real estate market, or the surrounding areas, please visit the most complete website dedicated to everything real estate related www.ClydeBrownHomes.com.

If you or someone you know are in need of a competent and experienced Bay Area Realtor, or have real estate or mortgage related questions, please feel free to contact me I will be more than glad to answer your questions. Call me at 800-839-0665 or email me at Clyde@ClydeBrownHomes.com. For all your East Bay cities needs including Fremont, Newark, Union City, Hayward, Oakland, Santa Clara, Milpitas, Dublin, Livermore, Pleasanton, and San Ramon. Clyde Brown Legacy Real Estate & Associates.

Selling your Fremont home fast doesn’t have to be an impossible endeavor.  In fact, even in today’s market you can still command a very reasonable price on your home within 90 days or less.  And if you follow some proven steps that I’ll outline below, your turn around time could be much faster than expected.

There may be various reasons that you want to get your home off the market as quickly as possible, but these principles I offer here can work in nearly every situation.  So let’s dive in on some basic strategies that you can implement today to gain the most favorable results:

Stage Your Fremont Home Properly

This is one area where it may make sense to hire professional help.  Regardless, do your homework and take the time to find out exactly what can be done to make your property more marketable.  For example, be sure to strip away any of that stuff on the walls or being used as decorations that is personal.  Also, place something of interest in each room that draws buyers in.

Additionally, people want to be able to picture themselves living in your space and visualizing where their own possessions will go.  So you need to clear out space and remove clutter, especially from public areas and closet spaces.  In fact, it is said that at least a 1/3 of your own items should be placed somewhere else other then the home you are trying to sell. 

Finally, maximize the use of lighting and make sure the house is spotless.  Most importantly, this goes for the kitchen and bathroom spaces which tend to endure a lot of wear and tear.  Patch any areas that need touch ups with some spackle, paint and caulk.  

Cut That Price

If you’re in a situation where you are moving for example, and want to be rid of your property ASAP, then consider starting your listing price at about 10% below its estimated value.  It’s better to start a little lower up front if you want to attract the attention of buyers and get quick offers.

This can also work much more effectively then dropping the price incrementally overtime.  In fact, the latter can even be harmful, because it may create the perception that nobody wants your property.  So make your listing competitive and be ready to entertain some early offers.

Do Your Research

People like things in writing.  Therefore, spend a little extra money to get an appraisal and inspection ahead of time, which you can offer at each showing.  This will build confidence with your Fremont buyers, since you will be providing the hard facts up front and you will show there is nothing to hide.

If you want to go the extra mile, you can even include receipts and/or documentation of repairs done on the home, as well as any new appliances that may have been purchased.  Your agent may also want to include information and statistics on the neighborhood as well.

Pick The Right Agent

 The vast majority of all homes are sold by real estate agents, but all agents are not the same - not even close. The agent's experience, knowledge, and marketing plan can have a huge impact on your success. Signing up with the right agent can make all the difference in the world.

Also, it is vital that your agent has expertise in marketing your Fremont home both with traditional methods and using online strategies for maximum exposure.  Because information travels so quickly on the internet, it is crucial that you have property tours, videos, listing information, etc. submitted to all the top traffic producing sites.  This will attract a high amount of responses and will help the word to travel quickly. 

Thus, allow me to prove my ability to help you sell within the next 90 days or less by calling me today.  During our private consultation, I will show you a comprehensive marketing process that has helped other homeowners just like you get the results they desired.  I look forward to earning your business!  

Thank you for taking the time to read the information I have made available to you. This information is brought to you by your Fremont real estate expert Clyde Brown.  If you are considering buying or selling property, planning to relocate, looking for Fremont homes for sale, or looking for any other information about real estate in the Fremont real estate market, or the surrounding areas, please visit the most complete website dedicated to everything real estate related www.ClydeBrownHomes.com.

If you or someone you know are in need of a competent and experienced Bay Area Realtor, or have real estate or mortgage related questions, please feel free to contact me I will be more than glad to answer your questions. Call me at 800-839-0665 or email me at Clyde@ClydeBrownHomes.com. For all your East Bay cities needs including Fremont, Newark, Union City, Hayward, Oakland, Santa Clara, Milpitas, Dublin, Livermore, Pleasanton, and San Ramon. Clyde Brown Legacy Real Estate & Associates.