Buying Homes - New Orleans, LA, St. Tammany, Covington, & Mandeville, LA

NEGOTIATING TIPS You're in a strong bargaining position (meaning, you look particularly welcome to a seller) if:   You're an all-cash buyer; or    You're already pre-approved for a mortgage; and   You don't have a present house that has to be sold before you can afford to buy. In those circumstances, you may be able to negotiate some discount from the listed price. On the other hand, in a "hot" seller's market, if the perfect house comes on the market, you may want to offer the list price (or more) to beat out other early offers. It's very helpful to find out why the house is being sold and whether the seller is under pressure. Keep these considerations in mind:   Every month a vacant house remains unsold represents considerable extra expense for the seller;    If the sellers are divorcing, they may just want out quickly; and    Estate sales often yield a bargain in return for a prompt deal. Earnest Money: This is a deposit that you give when making an offer on a house. A seller is understandably suspicious of a written offer that is not accompanied by a cash deposit to show "good faith." A REALTOR? usually holds the deposit, after a deal is made will turn it into the listing Company, the amount of which varies from community to community. However the more deposit, more stonger the buyer's offer will seem to seller. Usually one to three percent of the purchase price is customary. This will become part of your down payment. The Seller's Response to Your Offer You will have a binding contract if the seller, upon receiving your written offer, signs an acceptance, just as it stands, unconditionally. The offer becomes a firm contract as soon as you are notified of acceptance. If the offer is rejected, that's that, and the sellers could not later change their minds and hold you to it. If the seller likes everything except the sale price, or the proposed closing date, or the basement pool table you want left with the property, you may receive a written counter-offer, with the changes the seller prefers. You are then free to accept or reject it or to even make your own counter-offer. For example, "We accept the counter-offer with the higher price, except that we still insist on having the pool table." Each time either party makes any change in the terms, the other side is free to accept or reject it, or counter again. The document becomes a binding contract only when one party finally signs an unconditional acceptance of the other side's proposal. If you do want to revoke your offer, be sure to do so only after consulting a lawyer who is experienced in real estate matters. You don't want to lose your earnest money deposit, or find yourself being sued for damages the seller may have suffered by relying on your actions. FREE REPORTS! In the following free reports, you'll find the information you need to make a wise buying decision.  We'll take you through the planning process step-by-step , to help you determine which home is right for you.  You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving. Please contact me if you have any questions about buying a home in the Metro New Orleans area or elsewhere in Louisiana.  Dave Karl Email Dave

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