What does a 10K house mean?

A home becomes a 10K property once the seller of the property agrees to contribute a $250 marketing fee, which funds both the marketing costs of the program and the drawing. Once a 10K property is closed and funded, the selling agent becomes eligible to be entered into a drawing for $10,000.

Is it offering 10K above asking price?

Some real estate professionals suggest offering 1\% – 3\% more than the asking price to make the offer competitive, while others suggest simply offering a few thousand dollars more than the current highest bid.

What is a reasonable offer on a house?

A good rule of thumb though is to offer 5\% to 10\% lower than the asking price. Don’t forget that sellers often take this into account and deliberately put their house on the market for more than they expect or would accept.

Can a buyer back out of an accepted offer on a house?

Can you back out of an accepted offer? The short answer: yes. When you sign a purchase agreement for real estate, you’re legally bound to the contract terms, and you’ll give the seller an upfront deposit called earnest money.

How long before a House offer is accepted?

It takes between 4 and 8 weeks from acceptance of an offer, to get a formal mortgage offer. Ideally, you will already have chosen a mortgage lender. Better still, you will have asked the lender for a Decision in Principle (DIP).

Can I offer 10 below asking price?

Many people put their first offer in at 5\% to 10\% below the asking price as a lot of sellers will price their houses above the actual valuation, to make room for negotiations. Don’t go in too low or too high for your opening bid. If you make an offer that’s way below the asking price, you won’t be taken seriously.

Can buyer back out day before closing?

Can You Back Out Of Buying A House Before Closing? In short: Yes, buyers can typically back out of buying a house before closing. However, once both parties have signed the purchase agreement, backing out becomes more complex, particularly if your goal is to avoid losing your earnest money deposit.

When does the sold sign go up when buying a house?

My answer… The sold sign goes up when you have a fully executed purchase, earnest money is received, and inspection, association and any other contingencies except financing have been removed. It is the same time that the listing is pended in the MLS.

Are there too many terms in the real estate business?

And the real estate business is no different. In fact, there are probably more terms in the housing biz than just about anything short of neurosurgery. That’s why when you read a real estate listing, you may end up scratching your head over a whole bunch of puzzling terms.

What do I do if my realtor sign is missing?

If you don’t know when the Realtor sign will be removed, text your buyer’s agent and ask. Your agent can notify the Elk Grove listing agent — and I mention Elk Grove because missing Realtor signs seem to happen there more so than West Sacramento, for example — to find out when the sign company will come by.

Why do some agents never put up a sold sign?

This is part of the reason some agents never put up a sold sign… often the bigger reason is they like to keep getting calls from the sign. I recently pulled townhomes listed as ACTIVE in the MLS for a client and got 41 active listings… but all but 15 weren’t truly available because they had some sort of contingency!