STEP 06: negotiations & due DILIGENCE
“Your Advocate in Action”
Offer Strategy & Negotiation Tactics
Personalized Offer Crafting:
We tailor each offer to the property’s unique aspects and market activity. We evaluate your financial situation and market conditions to craft effective offers, from assertive bidding in competitive scenarios to nuanced negotiations for properties with lesser demand. Our strategy is informed by insights from our portal, helping us make the most realistic offers before even visiting the home.
Terms & Balanced Risk Management:
We assess each offer for risks and understand the property deeply. We tailor terms and contingencies to protect your interests, adapting our approach based on the property’s competitiveness. For competitive listings, we may need to make concessions, while less competitive ones allow for stricter terms and potential credits. We keep you informed and safeguard your investment throughout the process.
In-Depth Market Insights:
We leverage public, internal, and exclusive insights from our network to gather extensive data before making an offer. With a deep understanding of market trends and property evaluations, we prepare for any competition. This comprehensive approach forms the backbone of our strategy, ensuring our offers are realistic and positioned for success.
Inspection Period & Due DILIGENCE
The Accepted Offer:
This critical stage marks a significant point in your journey, where intensive work begins to confirm the viability of your investment. With your offer accepted, you are partially shielded from market frenzy, although the seller may continue showing the house. We'll handle the due diligence period's unique factors and start detailed inspections to ensure peace of mind before proceeding to contract review.
The Due Diligence Phase:
Based on the accepted offer, we conduct comprehensive inspections, including structural, septic (if applicable), pest, and environmental assessments like radon, water, and mold. The detailed report acts as a complete guide to your potential home, identifying all issues. This allows us to address any significant concerns while ensuring the property's overall condition is thoroughly understood.
Post-Inspection Negotiations:
Using insights from property inspections, we'll address significant issues found. If major problems arise, we'll propose a price credit or request seller repairs. Negotiations may be limited in competitive situations. For FHA and VA loans, specific fixes are mandatory. If the seller won't make necessary concessions, we'll reconsider the purchase. Once resolved, we'll proceed to contract review with the attorneys.
Initial Municipal Review:
After finalizing a deal and concluding post-inspection negotiations, we'll conduct a preemptive title search for you. This involves visiting the local Municipal Office, Building Department, Assessor’s office, and the Receiver of Taxes to check town records, ensuring there are no legal encumbrances or abnormalities. These records will be copied and sent to you and your attorney before the final contract review.
Contract Review & Risk Mitigation
Tailored Contractual Agreements:
At this stage, we'll coordinate with your chosen attorney or one of our preferred vendors. The attorneys, starting with the listing side, will draft the contract language to finalize the sale agreement. We'll review and adjust the purchase agreement based on our initial offer and any changes made during the due diligence period to ensure all terms are agreeable.
Attorney Review:
Your attorney will schedule a 45-60 minute consultation to review the contract terms, including any redlined items or additions made during negotiations. This ensures you understand every detail and that all terms align with your interests, as we move toward closing. The aim is to mitigate risks and protect your interests throughout the underwriting process and closing preparations.
Contract Execution:
After completing due diligence and adjusting the contract, you'll sign in your attorney's office or electronically via DocuSign. You'll first leave an escrow check payable to the seller's attorney, securing the contract on the MLS to protect against backup offers. Once signed, we'll initiate the underwriting process with your mortgage broker, advancing the final stages of your home purchase.
Brokered By: eXp Realty in New York
Office: 777 Westchester Avenue, Suite 101
Phone: (914) 588-3433
Email: gchomesandharmonies@gmail.com
2024, OneKey MLS. All rights reserved.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™MLS. Listing information provided courtesy of EXP Realty. Real Estate listings held by brokerage firms other than EXP Realty are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. Information last updated on 2024-01-19 05:30:16.
Brokered By: eXp Realty in New York
Office: 777 Westchester Avenue, Suite 101
Phone: (914) 588-3433
Email: gchomesandharmonies@gmail.com
2024, OneKey MLS. All rights reserved.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™MLS. Listing information provided courtesy of EXP Realty. Real Estate listings held by brokerage firms other than EXP Realty are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. Information last updated on 2024-01-19 05:30:16.