What to Do When Your Offer is Rejected on Home in Clermont

What to Do When Your Offer is Rejected on Home in Clermont

It’s no secret that the process of buying a Clermont home can  be quite stressful, especially for first time buyers. However, whether you’re a first time buyer OR a seasoned buyer, it’s still disappointing when your first offer is rejected. The good news is that in real estate “no” doesn’t necessarily mean “no”. It usually means “let’s talk”. It’s at these times you can be glad you’ve got an experienced real estate agent on your side who KNOWS how to negotiate!What to Do When Your Offer is Rejected on Home in Clermont

Rejected offers are more common than many people realize. As your agent will tell you, a rejected offer often sets the stage for what can be quite the process. A rejected offer means it’s time for  you all to sit down and work on a compromise.

When multiple offers are involved, your agent may advise that you get straight to the point and submit your bottom line offer. Your agent will also point out to the seller at this time that this is indeed your bottom line offer. It’s true at this time that you do run the risk of losing on this “take it or leave it” situation. Certainly if you’re a first time buyer who may not have the resources for a classic bidding war.

In a lot of cases there are other items that can be the basis of trade-offs such as closing dates, closing costs, inclusions and needed repairs. Even if you badly want those high end appliances included, don’t tie your agents hands by insisting that they are.

Additionally, don’t let emotion get in the way. This is a prime reason for having an agent negotiate for you. Your agent is trained and emotion free. Plus they have negotiating experience so that you can relax and as the popular song in Frozen goes, “Let it Go.”

See also

– Inspections to Have on a Lake Front Home in Clermont

– How to Stage Your Empty Saw Mill Lakes Home In Clermont

– Homes Near Golf Courses in Clermont, Florida

 
 

Inspections to Have on a Lake Front Home in Clermont

Inspections to Have on a Lake Front Home in Clermont

If you think inspections on regular homes are important, they’re even more so on a lake front property. When water is involved, it is even more important to make sure you get a proper inspection before buying the property.

Make sure the inspector is state licensed. This inspector can reveal problems in the home as well as it’s condition that the seller may not reveal to you themselves, or that the seller may not even know about! This inspector will also give you a detailed report in writing. The report will recommend adjustments, repairs or replacements.Inspections to Have on a Lake Front Home in Clermont

Your real estate agent or contractor should be able to recommend at great inspector. However, be warned when taking a recommendation for an inspector from the agent SELLING the property. If an inspector works for the selling agent, they have a financial incentive for the deal to go through.

Be sure to accompany the inspector as he goes through the property. This way, the inspector can point out to you what he/she finds as they find it. They’ll check things like the foundation, electrical power, and antiquated aspects of an older home that could be fire hazards.

Other things you might want the home inspected for include termite infestation and wood damage. If termite damage is caught on the inspection, you can have the seller pay for it before the deal goes through. Wood damage may be caused by moisture traveling up from the lake to the house through the soil resulting in mold. Mold eats structures and is hazardous to your health as well.

When purchasing a lake home with a septic tank, the septic system must be inspected to ensure that it’s being properly serviced and no waste is leaking into the soil or lake. Also, once you own the home, be sure to have the tank pumped out ever couple of years to prevent back ups and run offs into the lake.

You will also want the inspector to check the slope and terrain of the property for proper drainage of rain water away from the home. This is especially important when living where the soil is already damp from being near a lake.

If you have a dock, get that inspected too for sagging or any other problems. You may be able to get the seller to pay for any repairs or replacements.

See also:

– How to Stage Your Empty Saw Mill Lakes Home in Clermont

–How to Stage Your Lake Front Property in Clermont

Homes Near Golf Courses in Clermont, Florida

Homes Near Golf Courses in Clermont, Florida

Living on or near a golf course is a dream for many. Often, through each window of a golf course home, the best vistas are available of lush maintained greens. Another perk of golf course living is that the homes are usually situated so that direct neighbors are not visible, but rather views of the fairway. Additionally, if you’re a golf enthusiast, there’s nothing better than having your dream playground right in your own backyard. Clermont, Florida offers a couple of options for realizing the dream of living near a golf course.Homes Near Golf Courses in Clermont, Florida

The challenging, fun, scenic and tranquil Green Valley Country Club is a wonderful option just two miles west of Clermont. The course is open to the public and surrounded by dozens of gorgeous homes and stunning estates with prices starting at around $120,000 on up to over $300,000. Residents enjoy the lush facility and par-72 championship layout that is a vintage Lloyd Clifton design. Here, there’s a full practice facility and a pro shop.

Legends Golf and Country Club is another great option for the Clermont resident looking to live near the green. Legends Golf and Country Club overlooks the beautiful rolling hills of historic citrus groves in one of the most charming parts of Orlando. This is a dream community where you can relax by the pool, enjoy an afternoon with friends, neighbors or family while playing golf or tennis, spend a much needed day at the spa or just enjoy the views from your lovely home.

In this gated community, you can practice your skills on the 18 hole, par-72 green, enjoy the clubhouse or walk on over and check out the Legend Grille and Tavern. There’s also a pro shop, fitness center and media and event rooms.

Come check out residential opportunities in Clermont near your favorite golf course today!

 

Real Estate Changes Coming in 2014

It’s been a great 2013; home sales are up, prices are increasing, and mortgage rates are staying relatively low. But, 2014 is showing signs of unique changes not only in the real estate market especially in the mortgage world.

Here’s what you need to know about changes in the real estate and mortgage industry.

New changes on qualifying mortgages.

Qualifying mortgages cannot have interest-only periods, cannot have negative amortization, cannot exceed 30 years and cannot have a balloon payment at the end of the term. The only exception is for those living in a rural or under serving areas.

Borrowers may have a more difficult time qualifying for a loan.Real Estate Changes Coming in 2014

Over the last 2 to 3 years, low income and distressed borrowers have had it easy. Finding a mortgage or loan, especially if you’re a first-time homebuyer, has been easy with lots of options when it comes to down payment or closing cost assistance programs, zero to low down payment and even being able to apply for a loan than two years after a short sale or foreclosure. The types of borrowers may find it more difficult to apply for a home loan. On the other end of the spectrum, those that are self-employed or do not have a steady flow of income may find it more difficult to prove their income and have to jump through more hoops in order to apply for a home loan.

The debt to income ratio is decreasing.

The debt to income ratio has been 50% which is relatively high. This debt would include a mortgage payment, any car loans or student loans, credit card debt, and any other secured or unsecured loans. This percentage is dropping to 43% as of January 1, 2014. That may mean several borrowers will either need to bring their debt to income ratio lower or wait to purchase a home.

The new  “ability to repay” rule.

This is a new loan category for qualifying mortgages and will have the biggest effect on self-employed individuals. Those who are self-employed often have uncertain, seasonal, or fluctuating income. Lenders are often hesitant to lend to these individuals.

So what does all this mean for new homebuyers in 2014?

“Unless the applicant can demonstrate stable or increasing income, his or her chances of obtaining a mortgage may be poor. Under the new rules, it’s unclear whether and how much leeway lenders might have two make business decisions about making loans.”

My suggestion is if you plan on buying a home do so before the end of the year. We will have to wait and see how these new mortgage plans play out in January. [Source]

Related Posts:

How Much Are Homes Outside Orlando?

Winter Garden Real Estate Values

 

Winter Garden Real Estate Values

Winter Garden Real Estate Values

Winter Garden is located just a few miles outside of Orlando just South of Lake Apopka and covers quite an extensive amount of land from paradise Heights South to Windermere and Lake Hancock. It covers waterfront and lakefront Winter Garden Real Estate Valuesproperties, lots and land for sale as well as condominiums, townhomes and manufactured properties. Currently there are about 1300 homes for sale within the town of Winter Garden priced from $12,000 for lots and vacant land to a beautiful single-family home with over $3 million. Of course there are plenty of homes for sale between that huge range.

Currently the median listing price is about $243,000 and the average listing price is about $338,000 which is down a couple of percent over last month at this time which is normal for this time of the year. The median sales price however is up 15.6% over last year at this time which is equal to $27,750 topping out at $206,000.

Currently we have more foreclosures, bank owned and short sales on the market than owner/seller properties which certainly means that buyers are apt to get a really great deal on a home in Winter Garden.

The median sales price for Winter Garden hit its peak in 2007 topping out at $366,000. It wasn’t until the middle of 2012 that the market really started to turn around and has been creeping upwards over the $200,000 mark since 2013. The lowest price was in 2011 which was at about $180,000. The number of sales hit its peak in 2005 with about 750 sales per month. The lowest was in 2008 over the last 10 years at about 150 homes sold per month. Currently we are at around 200 homes sold each month in the Winter Garden area.

If you’ve been wondering what your value currently is on your Winter Garden home or surrounding communities call me anytime. We can run over some preliminary numbers or I can do a complete an extensive background check to find out exactly what your home would sell for today should you list it. I look forward to speaking with you soon. Image from Local MLS

If you enjoyed this post you may also like:

Golf Course Homes in Clermont

Foreclosure Homes in Minneola FL

Where is Winter Garden Florida?

© 2025 · 2019 · Website & Marketing by PersonalSEO

  

Log in