" On-the-Ground" Expertise and Experience on the Lower Cape!
William Raveis Orleans Office:
2013, 2014, 2015- #1 Producer-Units Sold~ 2014 #1 Producer-Sales Volume
sellers who have chosen the right REALTOR®, prepared their home for sale, and priced
it right are strongly positioned for a smooth real estate transaction, but
perhaps the most complex moment in the sales process comes when you get an
offer for your home.
you have one offer or several to consider, you should take a moment to
congratulate yourself that you’ve got a buyer interested in purchasing your
How to Evaluate Purchase Offers
Ideally, the potential buyer or buyers have
offered you full price or more, along with the perfect terms for the sale.
However, the reality is that not every offer will be immediately acceptable.
You’ll need to carefully evaluate each offer and begin a negotiation with the
buyers and their agent.
Your REALTOR® should be your partner and
educate you on the terms of the offer and help you understand the offer in the
context of the housing market in your area. You will need to know whether you’re
in a balanced market with equal numbers of buyers and sellers or one in which
buyers or sellers have the upper hand. You’ll also need to estimate whether
home prices are rising or falling in your community.
Before you begin to analyze any purchase offer, the most important step is
to determine whether the buyer can fulfill the terms of the contract with
financing (if not paying cash). Your REALTOR® can check on the
pre-approval letter that should be included with any offer by consulting with
the buyer’s agent and the buyer’s lender.
What Factors Should You Consider in a Purchase
Once you know the buyer can legitimately qualify for
a loan, you should begin to evaluate the offer by looking at these factors:
- How close is the offer to
your asking price?
- Will your home appraise
for the contract price?
- How large is the earnest
money deposit that accompanied the offer?
the buyer asked for assistance with closing costs?
the buyer asked you to make repairs or to give a credit for home
the requested settlement date appropriate for your needs?
you’re not immediately satisfied with the offer or are uncertain about whether
to accept it, consider your options:
- Are there other offers?
- Can you wait for more offers
to come in?
- How will you handle it if no
other offers come in after a particular deadline?
As a seller, you have the options of accepting the
offer as is, declining the offer, or making a counteroffer. Your
REALTOR® can give you specific advice about your negotiating stance based
on your home and your market, but generally you will need to be prepared to
compromise on some aspect of your home sale.
Your negotiations can go more smoothly if you have
a clear sense of your own priorities, such as a particular settlement date, the
ability to rent-back your home from your buyers, or a minimum price that you
need to achieve to meet your financial goals. Your REALTOR® should have
prepared a document showing you net proceeds at different sales prices that can
make it easier to understand the value of different offers.
Negotiations proceed best when both you and your
buyer respect each other’s needs and interests and come to an appropriate
compromise with the help of your REALTOR.
Reprinted from Realtor.com
WET OR MUSTY BASEMENTS…A COMMON CAPE
Water in a
basement may be obvious…water trickling across the floor or standing several
inches deep at the base of the stairs. But there also are less obvious signs.A
wet basement may just feel humid and have a damp, stuffy smell. If so, wood in
contact with concrete may be wet or decaying. Efflorescence, a chalky white
substance left by the evaporation of water, may be seen on the walls. Basement
floor tiles may be loose or popped. A carpeted floor may smell musty.
Find the Water
Fixing a wet basement begins with finding the cause. Infiltration of surface
water, infiltration of groundwater, presence of outside humidity, and presence
of indoor humidity are common causes of wet basements.Surface water intrusion
is when water runs toward the foundation and finds an entry. Groundwater enters
through the walls and floor by wicking action or by hydrostatic pressure when
the surrounding soil is saturated or the water table is high.
Warm, moist summer air can enter
a house and condense on the basement’s cooler floor or walls. Indoor
activities, like an improperly vented dryer, can create humidity that settles
in the basement.
To avoid ongoing problems
with mold or mildew, get rid of any water-damaged furnishings and possessions
unless they can be properly cleaned. Then identify and treat the source of the
If surface water is the
culprit, watch how the roof drainage system works and where rain water flows
during a rainstorm.A gutter or downspout plugged with debris may be sending
rainwater over the gutter, down along the foundation, and into the house. Regular
cleaning or installing a product that prevents debris from getting into the
trough will end that problem.If there is no debris but rainwater is still
overflowing, the downspouts may be clogged incorrectly sized for the roof area,
or insufficient for the size of the house. Consider getting larger gutters,
adding another downspout, or increasing the downspout size and its
corresponding gutter opening.Downspout extensions that direct rainwater away
from the house may be improperly placed or not long enough to protect the home
from surface water. Experts suggest extensions of at least 10 feet to get the
discharge away from the house without sending water into a neighbor’s
yard.Check the grade to see if it has been improperly set or has settled in
spots, sending water toward the foundation. Check paved areas, driveways, and
walkways that may be directing water toward the house. Proper slope has to be
regained and may mean replacing pavement.Basement window wells and stairwells
can collect water, causing leaks into the basement. For a window well, put a
drain system underneath, cover it with a clear plastic cover and be sure the
well has a raised-lip edge to repel water. For a stairwell, consider a
raised-lip edge and a roof to cover the area.
Groundwater is difficult to
control. The ground surrounding a basement may become saturated with rainwater
or an underground spring, especially if the soil is a heavy clay. Water
pressure from saturated soil will push water through tiny cracks in the foundation.
If groundwater levels rise above the basement floor, water will leak in.If the
problem is small, a homeowner may try patching cracks from the inside. Interior
crack repair does not prevent water from getting into the exterior section of
the wall. Water trapped inside the basement wall can weaken the foundation.
After pinpointing the source, a homeowner might dig down along the foundation
to see if outer wall repairs are small or large before making a repair
decision.Large cracks may require a structural engineer or basement specialist
to fix any cracks, seal the outside, and install a drain around the perimeter
of the house.
Warm moist air, from inside activities or the outside, can condense on cooler
basement walls and floors. Install energy-efficient windows, use a dehumidifier
or air conditioner, and circulate household air to prevent moisture
buildup.Indoor humidity can have several sources. A working sump pump can
produce unwanted humidity, but can be easily controlled. Put a tight-sealing cover
on the sump pump and install a floor drain with a trap so that water can get to
the sump.A dirt floor or crawl space may also emit moisture. One possibility is
to pour a concrete floor over a sealed polyethylene moisture barrier on the
floor. For crawl spaces, a ground cover will reduce the moisture coming up
through the earth. Insulate perimeter walls if water pipes or heating ducts are
in that area. Insulate cold-water pipes and walls. Install proper dryer
exhausts and vent basement showers directly outside. Don’t hang wet laundry in
Fixing a wet basement may mean
replacing decaying wood. If wood supports or framing appear water damaged,
check with a professional to see if there are structural problems.
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I have owned homes in Brewster, Orleans, and in Eastham; where I currently reside with my wife Sandy and a comical mini-Dachshund. In addition to Orleans,Brewster,and Eastham; I have sold properties from Mashpee to Provincetown... as modest as 2 parking spaces... to a $3.8 million waterfront estate. More testimonials and a more complete profile are available here on my website. Having lived year-round on the Cape since 1957, I have intimate insights into just about every "nook and cranny" on the Lower Cape, and strive to know our real estate inventory whenever possible, from the "inside".
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