Sally English Atlanta Real Estate: Georgia: Atlanta

Atlanta Home Buying March Madness: First Time Home Buyer Tax Credit DEADLINE is April 30th

March Madness may mean frantically searching for a home to buy for thousands of Atlanta Home Buyers as the April 3oth deadline approaches to qualify for the $8,000 Federal Tax Credit for Home Buyers.  Home buyers must have a home UNDER CONTRACT by April 30, 2010 and then close in 90 days. 

All procrastinators are thinking they can wait until the last week or two of April to make this decision but doing so puts most of the negotiating cards in the hands of sellers.  Why so? 

1. FOUL trouble: It will take a couple of weeks to have the house inspected and then negotiate the repair of any defects.
2. NO SUBS: Lenders are going to get backed up as they try to pre-qualify home buyers for home mortgages.
3. MANAGE THE CLOCK: The best inventory will go first! Don't wait until the buzzer to sink the winning shot.

 WHAT ARE THE GUIDELINES for the $8,000 Federal Tax Credit For Home Buyers?

The National Association of Realtors published an analysis of the November 2009 legislation Congress passed to extend and enlarge the Federal Tax Credit for purchasing a home.

"As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010

Who Qualifies for the Extended Credit?

• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
  
• Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase. 

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?: The maximum allowable credit for first-time home buyers is $8,000. The maximum allowable credit for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined? Each home buyer's tax credit is determined by tow additional factors:

1. The price of the home.
2. The buyer's income.

Price: Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income: Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009,  single buyers with incomes up to $125,000 and married couples with incomes up to $225,000-may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.

If the Buyer(s)' Income Exceeds These Limits, Can He/She Still Get a Credit? Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income-over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010? Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid? No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale"

For more information see the National Association of Realtors website or call Sally English at 770-939-3174. 

If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

Call Sally English at 770-939-3174 for advice about buying or selling a home in Atlanta Georgia.

EMAIL Sally English and the English Team at sallyenglish@englishteam.com

Sally English and The English Team At RE/MAX Executives Launch New Atlanta Real Estate Website

Sally English and The English Team are pleased to announce the launch of our new websites today at

http://englishteam.com/

Our web designers and programmers have been busy for the past few months putting together the tools you need to make informed decisions about the purchase or sale of a home in metro Atlanta Georgia.

SEARCH All Atlanta Georgia Homes on the MLS

http://www.searchatlantagahomes.org/

Check out our new Atlanta MLS search engine.  You can search ALL ATLANTA Georgia homes at http://www.searchatlantagahomes.org/

Our search engine is map based and allows you to zoom in to a neighborhood by clicking on a map.  As you drag the cursor over a property a photo fo the home and a few details like price and address pop up in a bubble over the map.  It's a cool tool!

Need to be alerted when new listings pop up in a neighborhood you are watching?  No problem, just sign in and you will receive email notices when a new listing hits the market.

Free Market Valuation of Your Home

Looking for answers about how much your home is worth.  We have a couple of options for you to consider.

1. First option: We email the comparables to you.  You never have to talk to an agent and you get some real time info that will help you with a market valuation of your Atlanta Georgia home.

2. CMA or Comparative Market Analysis.  This is the traditional market valuation for home sellers and folks who are considering putting their home on the market.  We need to actually walk through your home to do this one.  But, you get a value that is a pretty good estimate of what your home would sell for in today's market.

THE ENGLISH TEAM ATLANTA GEORGIA Real Estate

The English Team specializes in homes and neighborhoods convenient to Emory University and the CDC.  We offer advice and assistance with for both Buyers and Sellers and look forward to your visit to our new website.

Sally English and The English Team sell homes in neighborhoods throughout Atlanta Georgia including Northlake, Tucker, Decatur, Emory University, Centers for Disease Control, VA Medical Center, Mercer University, Lakeside High School, Briarcliff, Briarlake, Brockett, Buckhead, Chamblee, Doraville, Druid Hills, Dunwoody, Eastlake, Embry Hills, Evansdale, Hawthorne, Henderson, Idlewood, Intown, Lilburn, Livsey, Midtown, Midvale,  Oak Grove, Pleasantdale, Sagamore Hills, Stone Mountain, and Winding Woods.

Home Prices Reduced to Attract March 2010 Buyers Qualifying for $8,000 Federal Tax Deadline

Sellers with homes on the market for more than 45 days have been encouraged to lower their prices to attract Atlanta home buyers shopping for a home before the April 30, 2010 Federal Tax Credit Deadline.  Buyers must have a home under contract by April 30, 2010 and then close in 90 Days.

Atlanta consumer advocate CLARK HOWARD encourages consumers to know the specifics of the Federal Tax Credit and how to qualify for the $8,000 off on your taxes.

HOMES WITH PRICE CHANGE IN PAST TWO WEEKS

Low Maintenance Brick

3146 Henderson Walk

NEW PRICE: $ 279,900

¨ 3 BRs, 2.5 Baths.

¨ Brick fireplace.

¨ Two car garage. ¨ 4 sides Brick.

¨ Henderson Walk subdivision.

¨ Evansdale ES, Lakeside HS

Lakeside HS Renovation

3071 Randolph Road

NEW PRICE: $ 307,900

¨ 3 BRs 2 Baths. Large rooms!

¨ Kitchen: granite tops/new cabinets.

¨ Refinished hardwood floors.

¨ Full basement.  Fenced back yard.

¨ Owner/agent.  MARTA/CLIFF nearby

¨ Henderson Mill ES, Lakeside HS

Tucker Ranch*Swimming Pool

1643 Harbour Oaks Rd

NEW PRICE: $ 172,900

¨ 4 BRs, 2Baths.   New paint

¨ Swimming pool with newer vinyl liner

¨ Hardwood floors just refinished

¨ Fam. Room*DR*Study*Breakfast RM

¨ Master Bath and kitchen updated.

¨ Idlewood ES,  Tucker MS & HS

Bargain Priced/Estate Owned

2320 Melinda Drive

NEW PRICE: $ 274,900

¨ 2 BRs/2 Baths.  LR, DR, Breakfast rm

¨ Huge family room with fireplace.

¨ Hardwood floors under carpet

¨ Large partially finished BASEMENT

¨ Solid home needs updating inside

¨ Hawthorne ES, Lakeside HS

Renovated Winding Woods

3658 Windy Court

$ 269,900

¨ 3 BRs, 3 Baths. Hardwood floors.

¨ Renovated kitchen: granite countertops

¨ Renovated Baths. New roof. New paint

¨ Sun room addition. New light fixtures.

¨ Fenced back yard. Water feature.

Midvale Elem. Tucker MS & HS (IB Program)

SALLY ENGLISH AND THE ENGLISH TEAM

Sally English and the English Team at RE/MAX Executives specialize in homes and neighborhoods convenient to Emory University and the CDC.  Call us at 770-939-3174 or EMAIL sallyenglish@englishteam.com with your home buying questions.

How Much Is My Atlanta Home Really Worth?

No one person can determine what the market will price a home.  We can make predictions based on good information, analyze the competition, and review recent sales information for comparable properties.  A Comparative Market Analysis(also known as a CMA)will look closely at what "comparable" homes in your immediate neighborhood have sold for and then consider the differences between your home and the homes that have sold.  CMAs are performed by licensed professional Realtors. 

Comparative Market Analysis

CMAs use a data base, generally the local multiple listing service (aka MLS) which contains detailed information about recent sales, pending sales and homes that are presently listed for sale.  CMAs focus primarily on recent home sales.  Realtors look closely at the location of the comparable home, the date of the sale, the sales price, any special circumstances with impact on the sales price (example: foreclosures), condition of the property sold and the property's physical characteristics.

Adjustments In Price Based on Physical Differences

The physical differences between the homes sold in your immediate neighborhood and your home will be considered in the form of price adjustments.  If a comparable home sale has a basement and yours does not, then a deduction in price will be made to your homes "market value".  If your home has a sun room and the comparable home sale does not.  The lack of a sun room in the comparable sale will be acknowledged in the form of a deduction to the sales price of the comparable home.  These adjustments are made until the point where the two homes are on a "level" playing field.  This is how the estimate of the market value of your home is determined. 

The CMA is an estimate of the value of your home if sold in the present market conditions.

Sally English and The English Team

Sally English and The English Team specialize in homes and neighborhoods convenient to Emory University and the Centers for Disease Control.  Call us if you are considering the question "how much is my Atlanta home really worth?"  We have answers. 

Atlanta homesellers: call Sally English and the English Team for a FREE CMA for your home.  We would be pleased to provide a Comparative Market Analysis of your Atlanta Georgia home at no obligation to you.

Call Sally and The English Team at 770-939-3174 or EMAIL sallyenglish@englishteam.com

GET READY NOW TO SELL YOUR ATLANTA HOME THIS SPRING!

More than ever, sellers must have their homes in sparkling condition before they are placed on the market.  Competition is intense, because more homes are on the market now than in any other point in recent history.  When faced with a decision between two similarly-priced properties, buyers will almost always choose the property that is in the best condition.  Only when two properties are in similar condition will the property that costs less hold the upper hand.

Buyers are thinking differently in today's real estate market.  They are much more likely to be turned off by cosmetic issues with your home than in the former boom market we experienced.  Houses have to be move-in ready and have all the potential "objections" removed in order to be considered as an option by most buyers.  Buyers are thinking "value" more than ever, as homes have appreciated very little in the past 12 months.  They are not counting on huge appreciation to offset deferred maintenance by a previous owner.

 Luckily for those looking to sell their home this spring, there are many things that can be done - without spending a lot of money - to give a house a jump on the competition.  We've outlined some actions that will help you get the most bang for your buck and help you get ready now to sell your Atlanta home this spring.  Good luck!

CURB APPEAL

One of the frustrations of being a professional real estate agent is to make an appointment to show a home meeting all a buyer's requirements only to have the buyer decide they don't want to go inside because they don't like the way a home looks from the street.  Here are some things you can do to get a potential buyer inside:

Take inventory.  How does your home look from the street?   Is all you can see shrubs and trees?  If the answer is yes, you have some yard work in your future.  Landscaping is supposed to enhance the appearance of your home, not hide your home from view. 

Create a welcoming entry.  If you paint nothing else, at least give the front door a fresh coat of paint.  Replace broken doorbells, screens, and light fixtures.  Sweep the porch and knock away the spider webs.  Get an attractive welcome mat for people to wipe their feet on as they enter the home.

Get out the trimmers.  Trim back overgrown shrubs so that they are no higher than the bottom of the windows.  Trim trees so that they don't block the view of your home and there is room for you to walk under them. If vines are growing up the side of your home, pull them off.  Pull out vines and undergrowth from shrub beds.

Use flower power.  Weed your flower beds and use a chemical or mechanical edger to make a distinct border between grass lawns and beds.  Plant several flats of blooming annuals.  Petunias (summer), mums (fall), and pansies (winter) are just a few of the options available that will produce color throughout the growing season. 

Love your lawn.  Your lawn must look like someone cares about it.  Consider having a professional cut and edge.  Make sure to rake the leaves and put fresh pine straw in the beds.  The actual shrubs and plants in your lawn are not as important as having it well-maintained.

Accessorize.  Don't overlook other opportunities for adding color to your home.  Hanging baskets, flower pots, and even a small birdfeeder can add tremendous appeal to your home.

ABSOLUTE BASICS FOR INDOORS

You like your house clean for company, so why wouldn't you have it super-clean when you're trying to sell it and get top dollar?  We've listed several basic steps you can take to get your house ready for showing.  Once it's clean, make sure to keep it that way.  You never know when someone will want to see it!

Have a spring cleaning.  Clean and organize the home with a "take no prisoners" approach.  You'll have to tackle it anyway when you move, so go ahead and do it now to reap maximum benefits. 

Get organized.  De-clutter the home, which will make all the spaces, particularly the storage spaces, look bigger.  Don't pay a mover to haul all those things to your new home and do a good deed for someone in need by giving your items to charity.

Clear the air.  You probably don't notice any peculiar odors, though it may be obvious to visitors.  Determine the source of any odors and eliminate their cause.  Be particularly wary of kitty litter boxes, dog beds, and mildew.

Clean the windows.  Wash all the windows in the house - inside and out, cleaning window sills, jambs, and blinds.  Pull down window coverings that are aged and worn.

Floor them.  Have carpets cleaned and bare floors cleaned and waxed.  If you have carpet on top of hardwood floors, consider pulling up the carpet and having the hardwood floors exposed.  There are cleaning solutions for hardwood floors and polish compounds that make old wood floors really shine, eliminating the need to refinish in some cases.

"Unfurnish" it.  Make sure rooms are free of furniture clutter.  Though it will be temporarily inconvenient, keep the best looking pieces out and put excess and shabby furniture in the garage, basement, or in an affordable temporary storage unit. 

Lighten up.  Put bright bulbs in every socket.  Keep things bright and cheery by opening up all the drapes, blinds and shades during the day even if you are not in a regular habit of doing so.  Your home will be more appealing to buyers when flooded with natural light.

Get the kitchen "Health Department clean."  Keep surfaces and appliances spotless.  Clean the oven and range, replacing the drip pans under the burners (line them with fresh aluminum foil in a crunch).  Don't forget to clean around the door seal to the dishwasher.

Expand your counter space.  De-clutter your countertops, removing toasters, can openers, radios, coffee pots, and any other appliances.  Make it look like you have miles of counter space ready to use.

 Clean your closets.  Closets should look as if they have room to hold additional items.  Box up off-season clothes and get rid of anything you've been holding on to for too long.

Don't forget the bathrooms.  Bath tubs, showers, and sinks should be freshly caulked.  Grout should be clean and in good condition.  Repair faucet leaks and running toilets. Make sure to hang fresh towels in the bathrooms and buy a new shower curtain if yours is stained or mildewed.      

YOU'RE NOT DONE YET           

So you've tackled all the items we've listed above and you think you're done?  We've listed a few things below that you might not have thought of. 

Keep outdoor toys in check.  Collect and store toys that are on the front lawn, driveway and sidewalk.  Take this opportunity to talk to children and teenagers about the importance of keeping the house looking good while it's on the market.  Give them a concrete incentive to participate (but don't deliver on the bargain until the home is sold).

Pay attention to storage areas too.  Make sure your storage areas are clean too.  Attics, garages and basements need to be organized, clean, and have good lighting. Check out the pull-down staircase to the attic, tightening it if need be.  Put a light bulb in the attic.

Don't forget the extra touches.  Remove ashes from the fireplace.  Turn the television off while the home is being shown.  Keep pools sparkling clean and free of leaves all year long. 

FOR THOSE WHO HAVE ENERGY TO BURN

Only after completing the basics above should you tackle improvements that may actually require assistance from a contractor.  Many of these can be done relatively inexpensively, but are sure to pay for themselves when you sell your home.

If you do have some money to invest (or the talent and tools necessary to make the improvements yourself) below is a list of things you might consider.

Change outdated wallpaper.   Replace wallpaper with neutral paper or paint, particularly in the foyer, kitchen, and baths.   

Update the kitchen.  Replace worn kitchen countertops. Get a new stainless steel sink and a new faucet to really give the kitchen some sparkle.  New kitchen appliances can actually make the difference in your buyer prospect choosing your home over another. 

Update the bathrooms.  Take a look at the bathroom and decide if replacing the toilet, vanity mirror, or vanity sink faucet would make a significant difference. 

Add a few fans.  Ceiling fans are tremendously appealing to buyers, and you can find a variety of tasteful fans at good prices.

Give it a fresh coat of paint.  New interior and exterior paint can get the heart of a stubborn buyer beating at a rapid speed.

SALLY ENGLISH AND THE ENGLISH TEAM

Sally English and The English Team are ready to assist you in the sale of your Atlanta Georgia home.  Get ready now to sell your Atlanta home this spring and we can help make your dream a reality.  Call Sally at 770-939-3174 or EMAIL sallyenglish@englishteam.com and we will help you with a free market analysis of your home.  We look forward to hearing from you

Steal a Deal on Henderson Walk Renovated Traditional in Lakeside High School District

Steal a Deal on Henderson Walk Renovated Traditional in Lakeside High School District

My clients called and said drop the price to $279,900.  I wa surprised because this home has only been on the market 3 and one half weeks.  They are ready to move and have identified a target home.  Get it sold was their instructions to me.  Here you go:

¨ 3 BRs. 2.5 BATHS.

¨ Henderson Walk

      Subdivision.

¨ Kitchen renovation: new Silestone tops * new stainless steel appliances.

¨ New roof (2009).

¨ New gutters (2009)

¨ New Hardiplank dormer.

¨ Crown molding and faux wood blinds throughout home.

¨ RENOVATED KITCHEN features custom cabinets with natural finish.  New Silestone countertops. Tumbled marble backsplash in geometric pattern.  New double bowl stainless steel sink and brushed nickel faucet.  Natural Travertine marble tile floor. Kitchen desk and built in pantry.   

¨ PREMIUM APPLIANCES include a Whirlpool premium range with solid surface cooktop and stainless steel finish.  Whirlpool Gold series Oversize Microwave Oven/Ventahood combo in stainless steel finish. Whirlpool dishwasher in stainless steel finish. GE Profile Side By Side Refrigerator negotiable.

¨ BREAKFAST ROOM open to kitchen and family room.  Double sided breakfast bar divider with Silestone countertop.  Strip directional lighting.  Triple windows admits generous natural light.  Ceramic tile floor.  Laundry closet with storage cabinets. 

¨ FAMILY ROOM features  a masonry fireplace with gas log lighter and exposed brick from floor to ceiling.  Hardwood floors.  Three windows. Cased opening to LR. Door to patio.

¨ FORMAL LIVING ROOM features newer low pile carpet. Two windows.  Open to foyer.    

¨ FORMAL DINING ROOM features newer low pile carpet, double layer chandelier, chair rail, crown mold, designer paint.  Door to kitchen.

¨ FOYER: hardwood floors, double entry leaded glass entry doors.

¨ POWDER BATH off foyer.

¨ 2nd floor has two bedrooms and two baths. Off white carpet in all bedrooms.  Crown molding.

¨ Spacious MASTER BEDROOM with large walk-in closet.  Two windows.

¨ MASTER BATH: new granite countertop on double vanity cabinet.  Bath tub.  Walk in shower with opaque glass door.

¨ BEDROOM # 2 and BEDROOM # 3 feature double door closets, 2 windows with blinds.  Both have doors to hall bathroom.

¨ HALL BATH features a large vanity cabinet with simulated marble countertop.  Large window. Tub/shower combination.  Ceramic tile.

¨ BONUS ROOM ON 3RD FLOOR.  Stairwell opens to large bonus room.  Used as an exercise room and TV room by present owners.

¨ AMAZING WRAP AROUND DECK is a great place to relax.  Room for dining table and sitting area.  Private.  Arbor. Indirect lighting.

¨ Detached garage with parking for 2 cars.

¨ PRIVATE FENCED BACK YARD. Gate can be closed across driveway.  Privacy wall.

¨ Crawl space foundation

¨ Security system.

¨ Convenient commute to EMORY UNIVERSITY / CDC / VA Medical Center /Midtown.

¨ Evansdale ES

¨ Henderson MS

¨ Lakeside HS

Call Sally English and The English Team

Call Sally English and The English Team to Steal a Deal on Henderson Walk Renovated Traditional in Lakeside High School District. 770-939-3174.  Email sallyenglish@englishteam.com for more info.

Chinese Retaurants in Atlanta

A recent Atlanta Journal contest named the Top 5 Chinese restaurants in the metro Atlanta area as voted on by the readers.  The winners included two in my area of town

First Place: Little Szechuan

5091 Buford Highway N.E., Doraville, GA, 30340 (770) 451-0192

This storefront restaurant on Buford Highway (inside I-285) has fresh regional food that never fails to satify my cravings for Chinese food.  Love the black bean sauce shrimp.  Prices have gone up.  Lunch is still reasonable.

Second Place: Golden Buddha

1905 Clairmont Rd., Atlanta, GA, 30033 (404) 633-5252

Located near Emory University.  "Americanized" Chinese menu will appeal to a wide variety of palates.  Dependable Chinese food for the less adventurous diner.  Rarely disappoints.

SALLY'S List of Chinese Restaurants for More adventurous diners

1.  Man Chun Hong

5953 Buford Hwy NE  Doraville, GA 30340 (770) 454-5640

Outside the perimeter on Buford Highway. Hand puleld noodles. See the Yelp site for help ordering

2. Cafe 101

5412 Buford Hwy NE Atlanta, GA 30340 (770) 458-8883 cafe101atlanta.com

Inside the perimeter on Buford Highway.  Taiwanese food.  Trendy restaurant in a funky building.  Go to spot for many Asians right now.  Potstickers, shaved ice, basil chicken.  Very diverse and non American menu.  Go to Yelp for Help:

Also see Meridith Ford Review in the AJC

Negotiating the Purchase Offer: Price Does Matter

The offer came in.  You are jumping up and down celebrating the sale of your home.  The first thing you look for in all the legal mumbo jumbo is the line that specifies the offer price.  You find the line with the price.  The offer is...............low.  Real low.  Lower than any sales price you ever considered for your home.

How could they offer such a pitiful price!

That is a lowball offer!  They are bottom fishing!

That is an insulting offer.

We paid more than that when we bought the house ten years ago.

The tax appraisal is higher than that offer.

There is no way I would even consider working with these idiots.

These people are wasting my time.  I am not even going to make a counteroffer.

Those mother*^&#%@*$!%

These and many more comments came from my sellers BEFORE we successfully negotiated and CLOSED offers to purchase their homes.

HELPFUL ADVICE:

Chill.  If the offer is low take some time to separate your emotional feelsing from the BUSINESS transaction at hand.  Go do something that will take your mind off the offer.  Go shopping, go play golf, work out, take a walk.  Anything to give yourself a chance to calm down.  Then we can reasonably, I said reasonably, evaluate the offer price.

How much are they offering for the home? 

Is it a reasonable price?  Does the sales price meet my financial needs for paying off mortgage loans and purchasing a new residence? 

CALCULATE the Net Price

Even though the sales price is payment for the home, think if it only as a gross price for your transaction.  You need to prepare a seller's net sheet that lists all your expenses of the sale so you can determine how much money you will walk away with after the transaction is complete.  Most Realtors include this as a part of their service.

OK, now put the price part of the equation aside for a few minutes.

GAR FORM 

The majority of purchase offers are made on forms prepared by The Georgia Association of Realtors (GAR).  These standard contract forms allow realtors and attorneys to quickly determine if anything is out of the ordinary in the purchase offer. 

If you receive a contract on a non-standard form, or if you are not familiar with the mechanics of a purchase offer and are going it on your own, you should consult an attorney who specializes in real estate and have them review the contract offer. 

A few hundred dollars spent in prevention could help you avoid many thousands of dollars in unexpected costs you may obligate yourself to in a contract you do not understand.

EVALUATE THE WHOLE OFFER

Once you have carefully read and understand the entire contract, you are ready to make a decision about the offer.  Reading the entire contract is critical. 

See previous blog post: Negotiating the Purchase Offer: Price is not all that Matters for Sellers

Find a quite place and wade through the legal jargon.  If you run across something you don't understand, make sure to ask questions. 

CHOICE Number one: Accept the Offer "As Is" 

Your three choices are to accept the offer as it is written (very rare these days, but it does still happen), decline the offer or just ignore it, or to make a counteroffer.  A counteroffer is nothing more than a new contract offer that the seller has initiated. 

CHOICE Number two: Make A Counteroffer 

Counteroffers should be made in writing with a specific period of time in which they are open for acceptance.  Most offer a period of 24 to 48 hours after receipt for review and acceptance of a counteroffer.  

You are not required to make a counteroffer, but it may be a good way to educate a buyer as to what items are important to you in the negotiation.  Many buyers anticipate a counteroffer and will not make their best offer on the first go around.

My main piece of advice on negotiating an offer is to be flexible.  This is not the time to be overly controlling.  Try to understand what is important to your buyer and see what you can do to make those things possible. 

Choice Number three: Walk Away

I have counseled my sellers to make this very decision when it was apparent the prospective buyer was not acting in good faith.  Not my favorite tactic but it is sometimes acceptable.

BUSINESS Transaction: Put Emotions On Hold 

Don't let hurt feelings about a minor issue taint the whole process.  While it is a business decision, the negotiation does not have to be a "take no prisoners" battle between buyer and seller.  Cooperative, win/win negotiating will get you a lot closer to where you ultimately want to be than a stubborn, warlike approach. 

Understand your own limitations and do not be afraid to communicate with the other party about the areas where you have no room to give.  Treat the other party with respect, and they are likely to do the same with you. 

COMMUNICATION Trumps Negotiating Games

Playing games in a negotiation is counter productive in most instances.  Let your buyer know why you can;t accept a lower price.  Give them some comparable sales to consider.  Advise them of key difference between your home and the house on the street that sold for a lowball price.  Tell them why you can't give up possession in two weeks.  Most buyers readily work to accommodate valid reasons for not accepting their first offer. 

When you get to a bottom line point in the negotiations, communicate that to the buyer.  Some buyers need a "foundation" to work on.  They have to hear "no" before they feel they have struck their best deal.

SALLY ENGLISH and The English Team

SALLY ENGLISH and The English Team are experienced real estate negotiators.  We specialize in homes convenient to Emory University and the Centers for Disease Control.  Call us at 770-939-3174 or email sallyenglish@englishteam.com to get started buying or selling your Atlanta Georgia home.

SELLERS DISCLOSURE STATEMENTS A Win – Win Document for Buyers and Sellers

“Why do I need to fill out another form?”

It’s a question I am often asked by sellers when they list their home for sell. An easy answer is

“because you have to.”

The real answer is: because you are protecting yourself against all kinds of problems down the road – problems that can pop up years after you have sold and closed your home.

One of the first things we ask sellers to do is fill out a detailed Sellers Disclosure Form, provided by the Georgia Association of Realtors. A Sellers Disclosure Form is a document which details items that need to be repaired, material facts about the property, and other factual information which could negatively impact the financial value of the property. This is a binding legal document when executed properly by the parties to a contract.

Why on earth would any seller want to disclose negative information about their home?

The big reason can be found in the courtroom. Juries have awarded big settlements to buyers suing sellers after they find “hidden defects” in the home, which the seller covered up or intentionally forgot to mention. By disclosing these problems up-front, the seller has put the burden on the buyer to carefully inspect these areas and evaluate their future negative impact on the property.

Buyers benefit from the inclusion of a Sellers Disclosure Statement in the contract agreement in a much more obvious way. By carefully reading this document, a buyer can obtain factual information about a property that would not typically be available from a visual inspection.

Buyers then have an opportunity to make an informed purchasing decision, to budget for work that needs to be done on the property, or seek expert counsel on particular disclosed zoning or legal matters.

A word to buyers:

If the seller does not provide a Sellers Disclosure Statement, write a clause in the sales agreement specifying that a Sellers Disclosure Statement be completed by the seller and specify that this document is a part of the sales agreement. See a real estate attorney or your Realtor for assistance in wording this clause.

And, don’t forget to hand the Sellers Disclosure Statement to your independent home inspector. They need to know what the previous homeowner included so they can thoroughly investigate any areas of concern. On the whole, a Sellers Disclosure Statement protects both sellers and buyers. “Caveat emptor,” or “Buyer Beware,” is not a win – win way of doing business. All parties benefit from a more forthright and agreeable way of negotiating the purchase of a home.

In our next Post: What type of information is included on the Seller Disclosure Form? 

STAGING YOUR ATLANTA HOME: Key to a Quick Sale

One of the keys to selling your Atlanta home quickly is to help buyer prospects to visualize your home as their new home.  Years of experience has helped us compile this list of tasks which are easy to accomplish and can help sell your home during a challenging real estate market.

• Bake something in the oven just before the open house.  A sheet of ready-to-bake chocolate chip cookies is an easy solution.  The delicious aromas will make your guests feel right at home.
• Put out some fresh cut flowers in the dining room, bedroom or kitchen to wake up your guests' color senses. 
• Simmer some cinnamon sticks or cloves in a boiler pot of apple juice on your stovetop to create a nice pleasant aroma throughout the home.
• Place a bowl of fresh fruit on the kitchen counter.

• Place fresh linens in the bathrooms and do a quick check for unpleasant smells.
• Replace all the shower curtains in your home.  Old shower curtains inevitably have a mildew smell and new curtains have a fresh aroma - almost like new paint.
• Remove unpleasant aromas from your garbage disposal.  Grind up a lemon to mask any lingering odors.
• Set the dining room table as if you were expecting company.  Tablecloth, china, crystal, silverware - use the best settings you have and make it look like you plan to entertain guests that very evening.
• Use the fireplace.  Start a small fire in the fireplace and make your open house guests feel cozy and comfortable.
• Replace your worn welcome mat and clean any glass panels on your front door.

By staging your home in these simple ways, you help a buyer to visualize what the experience would be for them if they moved into your home.  Minor distractions can create a negative perspective of the entire home, giving a buyer incentive to strike yours from a list of properties to consider for their new home. 

A small amount of staging you Atlanta home can help put buyers at ease and lets them know that you care about their perception of your home.  Staging your Atlanta home could be the key to a quick sale.

SALLY ENGLISH AND THE ENGLISH TEAM

Sally English and the English Team at REMAX Executives specialize in selling metro Atlanta homes.  We have years of experience and a track record of proven success.  Call us at 770-939-3174 or email sallyenglish@englishteam.com  We look forward to assisting you with your real estate needs.