Dean Graziosi

If you are selling a home, one of the best offers you can receive is that of cash. Any time someone makes a cash offer, you know as long as they actually have the cash, the selling process will commence immediately. Often times, sellers accept cash offers quickly and many buyers who are not offer cash lose out when their own offers are beaten.

If you are a prospective home buyer who wants to offer cash, it is a good idea to provide documentation with your offer that will prove the funds are available. A bank statement will usually work quite well in these situations.

If you don’t yet have the cash, but will very soon, other documentation will be needed. An example of this would be if you plan to liquidate stock or another type of asset. Here, you will need to provide a time table on when the asset will be converted to cash. Again, you will include this documentation with your offer.

While it is rare to pay for a new house using cash, it is possible. If you can do so, it is highly recommended. Some people are able to do this from the sale of other property. If you are able to get out the home you are selling exactly what you put into it, a cash payment may very well be possible. This is especially true if you have saved a significant amount of money to put toward the down payment of your new home.

Some home buyers expand slowly, paying cash for all their homes along the way. Many factors are involved in making this happen. Not only would you need to have the cash saved up and available, but the economy would also need to work in your favor.

If you have rental property, you may even choose to put the money you receive each month as a landlord into savings for purchasing new property on down the road.

Many sellers prefer cash offers because they re getting the money up front. Buyers prefer them because the home can be paid for very quickly, thus eliminating the need for a 30 year mortgage.

If you are the one making the offer, the key is to start by purchasing smaller homes and later working your way up to larger ones. Starter homes are a good way to begin. As you make money on each house you sell, you will be able to put it into your next purchase. Over a period of time, you will accumulate enough money to actually pay for a house in cash. This often brings peace of mind and financial security you would not have with a 30 year mortgage. Your home is paid for before you ever move in, and the seller rests easy knowing all the money has been received up front. 

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When you purchase a home, chances are, things will go smoothly. While there are bound to be a few problems along the way, you want to minimize the chances of something going wrong as much as possible. The more you know about the contract you are entering into, the fewer problems you may have throughout the entire process. This is why it is a good idea to anticipate potential problems that could occur. This makes it much easier for you to cancel the contract without penalty should something go wrong. These are what are known as contingencies. You will want to include them whenever you make an offer on a home.

An example of a contingency would be as follows. Some buyers choose to purchase a home before selling the one they currently own. Sometimes, even if the home is sold, it is probably still pending and has not yet closed. This situation would call for a contingency where the sale of the home is required to be final before the actual purchase of the new one. This condition would then be written into the offer. Failing to do this could result in two mortgage payments for the buyer instead of one. This is an important part of the offer since no prospect buyer wants to pay for two mortgages at the same time.

There are other common contingencies that should be included when you make an offer. Since you will most likely need a mortgage in order to buy the new home, one condition of your offer could be that suitable financing is successfully obtained before anything is finalized. You also want to be sure the property appraises for the amount you are offering, so this is another condition you would definitely want to include. Also, during the escrow period, certain inspections will most likely be required by you. You could write in another contingency that all inspections must be passed before the sale will take place.

Contingencies are there for your protection. Should you find yourself unable to keep your promise to purchase a home. There are also circumstances that could occur that would make buying property impossible. These situations usually involve money, and since this is commonly the case, you want to be sure you can get out of your agreement without being out a lot of cash. This is an important part of any sale and you should definitely discuss it with your real estate agent.

Your realtor can discuss all types of contingencies with you and advise you on which ones should go into your contract. Your specific situation will be taken into account so as to find the best solution for you should it be needed. Chances are you won’t, but you always want to be prepared just in case.

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Some sellers may feel that the prospect of remodeling the kitchen in a home that they are about to list is unnecessary; but in many cases the kitchen is one room that many buyers base their decision on. By remodeling your existing kitchen you may be increasing the chances of your home selling quickly rather than sitting on the market for months. Remodeling your kitchen can also help your home stand out among all of the other choices available on the market today. Buyers will likely choose a home with a freshly designed kitchen over homes that feature kitchens that are in need of work.

If your home has been listed for months and there has been little interest in it, you may want to consider remodeling your kitchen. Buyers tend to be put off if a kitchen seems too dated or features appliances and cabinets that aren’t modern. Remodeling your kitchen doesn’t have to cost a lot, simply making a few changes such as paint or floors can be accomplished relative inexpensively. The larger remodeling costs come in when you decide to replace existing floors, cabinets and countertops. Depending on the styles you choose these upgrades can become costly.

If you do decide to make some changes to your existing kitchen it is best to make changes that will increase its appeal and not make it look like it was done quick and cheap. It is also best to when remodeling to increase your home desirability among buyers that you choose colors that are more neutral and not too loud. Simply making a few upgrades may be enough to change the entire look and feel of your kitchen. Paint color can be changed relatively easy and it isn’t one of the more expensive upgrades that can be done. Appliances, if you are including them in sale should also be upgraded. Buyers are more likely to purchase a home that features newer more modern appliances than a home that has dated and unappealing appliances. Buyers will see replacing all of the appliances as another out of pocket expense, this is likely to push them towards a home that features all new, modern appliances.

The real estate market is highly competitive today, and anything you can do to help your home stand apart from others listed is a great way to get your home sold quickly. The longer your home sits, the less likely it is going to sell for the asking price. Providing buyers with a remodeled kitchen is one way to ensure that your home sells for the price you’re asking. Remodeling may seem like an unnecessary expense, but it is well worth it when trying to sell your home.

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