Raveis Real Estate - Official Brokers to the Red Sox


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12 Things to Ask When You're in a Multiple Offer Situation

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After looking for months you've found the house that you could love and decide to make an offer. You call your agent and he/she says they have multiple offers. Here's what you should ask: 1. Is selling agent a "Realtor"? That is ... a member of a national organization with a code of ethics. 2. Does selling agent have one or more of the offers? This puts you at a disadvantage if they cut their commission to secure both sides of the deal. 3. Does selling agent's office/brokerage have one or more of the offers? Some brokerages increase the agent's splits if they keep the deals "in house". 4. How many offers do you have? Knowing the number of offers is vital to your strategy. The seller is perfectly within their rights to restrict what or anything their agent is allowed to share. Don't fret if you're told they can't share, knowing that is also vital to your strategy. You do have a right to ask for a copy of this instruction in wr
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The real estate industry has its own unique language that can sometimes be confusing. One term that comes up a lot, especially in these times of bank-owned properties, short sales, and foreclosures, is “as is” and its variations “where is”, and “in its present condition”. There are some agents who feel that part of the reason we see "as is" cropping up more and more is because more buyers are being coached to use the home inspection as a reason to reopen negotiations (sometimes justified, sometimes not) and that sellers and their agents, who may have already lowered the price several times, are using it as a tactic to close the door on this practice. Sellers commonly mistake “As is” as a way to offset deferred repairs with a discounted asking price usually reflecting the condition. This is not a term to be used lightly, because there are costs as well as benefits, and if you don’t know what it really means, you shouldn’t use it. “ As is” is actually a leg
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Sudbury Market Update July 2018

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