shearie.com

Question by iwantanewgig: Can I legally tell a new prospect about a bonafide offer already on the table?
It is now Friday, JUl 18, 2008. I just received a bonafide real estate purchase offer on my home, and there is someone else scheduled to tour my home on Sunday. Can I legally tell that person there is a bonafide offer on the table so they may counter? If it makes any difference, I live in Pennsylvania.

Best answer:

Answer by Steve D
Yes, if you are the owner, you can divulge any information you want to.

Know better? Leave your own answer in the comments!

Question by Kerri Bennett: What can I do if I got a formal offer (signed by us both) to purchase on my trailer & now they’re backing out?
I got an offer on my mobile home a few days ago after the lady did a walk through and she filled out an offer to purchase real estate and had me sign it (I accepted the offer) and then today, they were supposed to be coming back to look at it again. She called to verify a time and then a while later called again to say that the guy wasn’t willing to pay the amount already offered on a 1991 trailer so what was my bottom line I’d sell for. I told her that the offer that was made was the lowest I’d accept and now she’s called me three times saying that she has other buyers willing to pay the amount already offered! What should I do? I would think that the offer to purchase would be legally binding or what would be the point of it?!

Best answer:

Answer by James O
It is binding. You are entitled to the earnest money they put down on the property. Depending on what stipulations were in the contract. Take the money and sell to someone else.

Know better? Leave your own answer in the comments!

Article by Rick Martin

Europe is a very sought after continent in this day and age where properties are concerned. The continent offers a very high level of diversity and incredible real estate investment opportunities. Whether you’re looking to purchase a home or to make an investment in real estate in Europe, your options are practically unlimited. However, finding a reliable source of property listings that meet your expectations is somewhat more difficult. At properties-eu.com we are pleased to provide you with a wide variety of real estate offers in Europe and even a selection of fabulous homes in Florida.

The real estate market is probably one of the most dynamic markets that currently exist. Hundreds of property purchases are made every day all around the world. The reasons for this massive phenomenon are numerous, including the development of the global economy and communication systems or the simple need to find the home of one’s dreams. Europe is definitely a central piece in the global real estate market puzzle. With so many beautiful locations, incredible tourist attractions and some of the most fascinating metropolises in the world, there’s no wonder why so many people want to purchase real estate in Europe. The options are practically endless in Europe where purchasing real estate is concerned. You can choose between urban or rural settings, quiet locations or busy tourist resorts and many different types of climate. Furthermore, the culture and the history Europe has to offer are unparalleled. Europe also provides a thriving business environment as many of the top companies of the world have their center of operations in the old continent.

There are two main reasons why people choose to purchase real estate in Europe. The first motive is the desire to live in a European country. The other reason is the enormous real estate investment potential one can find in Europe. Purchasing a piece of property in a European country can really be a profitable investment if you are familiar with the current real estate trends. First of all, you should know that purchasing property in any location that represents a tourist attraction is very likely to be a good investment. Furthermore, what many people are not aware of is that the eastern European countries provide incredible real estate investment potential nowadays. Countries such as Bulgaria, Romania or Turkey are just beginning to make their statement in the European property market.

Although the eastern European countries are currently very popular investment areas, other European countries with more stable market economies can provide very interesting investment opportunities as well. For instance, France is well known for its stunning scenery, relaxed lifestyle and continently priced properties. Other European countries that provide some of the best real estate opportunities in Europe are Portugal, Germany, Spain and Cyprus. At properties-eu.com you will be able to browse through thousands of property offers in Europe and even outside Europe. When discussing popular real estate locations outside Europe, Florida is at the top of the list. Purchasing homes in Florida has become incredibly fashionable over the past few years. Homes in Florida are well-known for their beautiful design and high functionality. In Florida you will be able to find a home that fits perfectly with what you’ve pictured for the perfect place to live.

Finding the home of your dreams is usually a very difficult task and you can use all the help you can get. Properties-eu.com is dedicated to helping you find the right home as soon as possible. We provide thousands of real estate offers in Europe and even a selection of homes in Florida. All you have to do is decide on what you’re looking for and we’ll make searching for a new property an easy task.

Europe is well-known for its many real estate investment opportunities. Purchasing real estate in Europe is a much easier task if you have a reliable information source. Visit our website for complete information about purchasing property in Europe and even homes in Florida.

Question by winnie n: does seller has rights to turn down my offer?
I offered a price with my new house.
Seller verbally accepted my offer, but seller had not returned the signed “Offer to Purchase Real Estate”.
does seller has rights to turn down my offer?

Best answer:

Answer by Marine5
They sure do since there is nothing in writing…

Know better? Leave your own answer in the comments!

Question by rango7766: Are there any restrictions for foreigners to purchase real estate in Houston, TX?
What about mortgage? Will I get offered the same mortgage products as Americans? Planning to move from Canada to Houston, TX the end of this year.

thanks in advance

Best answer:

Answer by bostonianinmo
No, there are no restrictions anywhere in the US. Substantial portions of US real estate are owned by foreign nationals and corporations.

Know better? Leave your own answer in the comments!

Question by Wildfire: Real estate:accepting offer contingent upon closing on a purchase?
I found a home and made an offer contingent upon the sale of my home. I got a contract on my home but my attorney suggested a clause to give me an out if the deal on the house I am buying falls through. I accepted her suggestion but I am wondering how common it is for buyers to accept such a clause?
Elsie: the clause is on the acceptance of the sale of my home-so that I am not left homeless if the contract on the one I am buying falls through for one reason or another.
ED ATUN: Get over yourself. Not everyone can take an added debt to make their deals without contingencies and it’s also untrue no one will accept them. I have a contract on a house which is contingent upon my selling and they DID accept it .
JPLUNK: LOL I think a more comparable example is something we see everyday. They are called prenuptial agreements.

Best answer:

Answer by Debra G
I don’t know how common it is, but it sounds like you have a good attorney. I will be anxious to see what answer Realtors post.

Add your own answer in the comments!

Question by clint_miller: How binding are errors in real estate purchase agreements?
For example, if a buyer’s realtor filled in the offer form at $ 300,000 instead of $ 500,000, the buyer signed it and the seller didn’t notice and signed the form agreeing to the price. Would they then have to sell the property at $ 300,000?
Bearing in mind the buyer’s realtor made the error by mistake.

Best answer:

Answer by frak1a12345
No, they would not have to sell at that price. Errors are not binding in contract law especially when it is an obvious one like this.

Know better? Leave your own answer in the comments!

Question by dasielady: When ordering a home inspection on a house in crappy condition, what do I need to stipulate in the offer?
I have found a house that was foreclosed on that I think I can buy for a deal and renovate and resell. I am planning on living in the house for 2 years and take time to make the renovations. I will only be putting about $ 2K into it right away to make repairs necessary (like cleaning it, ensuring water and electricity are working and safe, etc…) to make it livable for myself. It is presently bank owned and I know better than to skip a home owner’s inspection–just so I don’t have any surprises.

However… I am familiar with most offers to purchase real estate that are contingent on a home inspection being where the home inspection must be issued as near perfect. How can I word the portion of an offer regarding the inspection so that I can make it contingent on there not being any MAJOR issues, but that cosmetic or cleaning issues (like moldy carpet, broken outlets, etc…) that I could easily fix would be okay. I don’t want the seller to decline, not wanting an inspection.

Best answer:

Answer by CHARITY G
Basically right directly on contract what you have written in the last paragraph. Assign a dollar amount for inspections. I usually give about ten-thousand dollars – that is I can not walk away from the contract unless repairs are over ten-thousand. You can also make specific exclusion – for instance – the ten-thousand dollars can not include roof, foundation, or structural repairs. That is, if any of these items are in need of repair, you can just walk away. Good luck.

Know better? Leave your own answer in the comments!

Article by Liz Voss

It’s not easy exploring the world of real estate, especially if it’s something you don’t do on a regular basis. Therefore, if and when looking at San Antonio homes for sale, you should take some simple steps in order to understand the entire home buying process. A crucial part of this process is the stage where you start to make a reasonable offer. If you fail to do this, you might lose your dream home to someone else, or miss out on well priced property. Below, I’ve listed a few of the steps you can follow that can be helpful in order to obtain your next piece of real estate. Being familiar with market prices The best way to know the current real estate market is with the help of a real estate agent. They have the ability to pull comparables on all transactions that have recently taken place, and can offer valuable input when it comes to making a reasonable offer. Ask your REALTOR? about their opinion regarding the home you plan to buy. Have them analyze it’s value by analyzing other properties located in its neighborhood based on the comparables they’ve run. After doing the necessary research, sit down with them and discuss what the options are, and the best offer that should submitted. It is true that one can get a bargain on a home, but consistently making “low ball” offers will tire your agent, and the agents they do business with. This can also prove to be a great risk if you do not know the properties history, and/or present condition. Ask your real estate agent how long it’s been on the market and whether it is competitively priced, or recently reduced. Learn more about the seller by researching their current condition. They may have financial stress due to a divorce, loss of a job, and yes, sadly even a death in the family. Though these are sad life events, they present opportunities for a buyer. Negotiating for agreement terms The most important thing to remember when making an offer is that in order to have a contract, both parties must feel like they have received consideration that satisfies them. This means that both buyer and seller are happy. Your real estate agent is the best person to help you negotiate the best price of the home, but you must be honest with your agent as to what your limits are. Be honest with yourself and what you can afford. The last thing you want is to be “house poor” because you have stretched yourself too far. If you manage to negotiate furniture, appliances, playscapes, and anything not included in your contract, make sure your agent writes this up as well… if it’s not in writing and signed by all parties, you have nothing to fall back on in the event the agreed to items are taken from the property.

Liz Voss writes articles for San Antonio Real Estate. Other articles written by the author related to San Antonio Texas real estate and San Antonio Homes can be found on her website.

Article by Anna Platz

The “For Sale” sign is in the front yard, the home’s been staged, and you’ve been vacating the premises anytime anyone wants to take a look at the property. Now – here is the moment you’ve been waiting for – your real estate agent has an offer! Whether it’s exactly what you were hoping for or leaves a bit to be desired an offer to purchase is always a good thing. At the least it’s a sign that there is interest in the home, at best it’s a great deal as is (where do you sign?!), and most often it’s a good starting point for negotiations.Your real estate agent should be able to help walk you through the offer. He or she can point out its strength or any red flags, and explain the included contingencies. When it comes time to decide whether to accept, counter, or turn down the offer ask yourself the following questions.1) Would you buy the home today for this price?When you turn down an offer you are essentially saying that you would purchase the home for this price because you are going to hold out for more. The offer price might not be as high as you were hoping, but if it’s more than you would pay for the home were you buying it in the current market it’s certainly worth considering.2) How qualified is the potential buyer?Did the offer to purchase include a pre-approval letter from a mortgage company? A pre-approval letter is a good sign that financing won’t stand in the way of closing the deal. A decent sized earnest money deposit also means that the borrower is serious and fully intends to follow through on the offer.3) What will it cost you to accept the offer?Is the offer enough to cover repaying your current mortgage and any other obligations on the property? If not do you have other resources to tap into to fulfill those obligations? If current market conditions make it unlikely that you’ll receive an offer that will allow you to pay off your mortgage in full, you may need to hold onto the home until the local market improves or discuss the possibility of a short sale with your mortgage lender or real estate agent.4) What will it cost you not to take the offer?Consider what the home costs you each month you do not sell. If you have already moved or this is a second home that may be the mortgage payment, taxes, insurance, and utilities. Think about how many months on the market it would take to make up the difference between the current offer and what you were hoping to receive for the property. When you’re still living in the home the expenses might not be that great as once you sell you’ll have to incur similar costs when you rent or buy another home, unless you are down sizing.5) How does this offer compare to recently sold homes?One of the best indications of what you can expect to receive for your property is what others like it recently sold for. If the offer is much lower than other buyers have been paying you may want to counter with a number that is closer to current market value.