Donahue Real Estate Company



Posted by Donahue Real Estate Company on 8/14/2019

Contingencies on a contract to buy a home are there to protect both the buyer and the seller. The contingencies give the buyer the right to back out of the contract if any of these contingencies arenít met. There are many reasons that buyers back out of deals including financial issues and problems with the home. Below, youíll find a break down of some of the most common contingencies and what they mean for you as a buyer or a seller.   


Financing Contingency


Most home contracts come with whatís called a financing contingency. This gives you the ability to walk away from a deal if the financing falls through when trying to buy a home. Usually this is due to a credit reason or some other financial reason. You canít rely on financial cracks to help you to back out of a deal on a home. Lenders will only deny a loan for real financial reasons. Thereís no way to ask a lender to lie for you so you can get out of buying a home! This is why you need to make your decision about a home purchase wisely.   



Inspection Contingency


This gives the buyer the right to have an inspection on the home within a certain time frame which is usually 5-7 days. If something is really off with the inspection that you as a buyer donít feel comfortable with, you have the right to back out of a deal without repercussions. While seller disclosures are important, the seller canít disclose what they donít know about. Thatís why the home inspection is so important. The sellerís disclosure cannot protect you from hidden damages that may cost half of a homeís worth to repair.   


Appraisal Contingency


If homes are selling fast and you want some secure way to back out of a deal you should consider an appraisal contingency. If the home you want to purchase doesnít appraise at a price high enough to meet your mortgage requirements, you have a legal way to back out of the deal. For example, if you put down 20 percent of the purchase price of a home and the home doesn't appraise for the value of that purchase price, youíd need to come up with the remainder of the money in cash. An appraisal contingency protects you from having to face this. Youíll still need to have a home inspection done on the home to search for any problems, but an appraisal contingency protects you from any problems with financing and your own disposable amount of cash that could arise due to a home appraising low. 


While contingencies arenít necessary as a homebuyer, theyíre highly recommended. Without contingencies, you could be left with a number of expenses such as damages that are extremely costly to fix.




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Posted by Donahue Real Estate Company on 8/7/2019

Looking to buy a house without having to break your budget? Put together a homebuying roadmap, and you can increase your chances of finding a top-notch house that falls within your price range.

Ultimately, there are many things to consider as you put together a homebuying roadmap, such as:

1. Your Dream Home Definition

Differentiate your dream home must-haves from your wants Ė you'll be glad you did. If you can determine exactly what you want to find in your dream house, you can narrow your home search accordingly.

For example, if you need a home with multiple bedrooms to accommodate your entire family, you should include this information near the top of your homebuying roadmap. You then can kick off a search of multi-bedroom homes and move closer to finding your ideal residence.

2. Where You Want to Live

Do you enjoy life in the big city? Or, would you prefer to settle down in a small town? Think about where you would like to call home so that you can effectively plan your homebuying journey.

Ideally, you should try to refine your home search to a small collection of cities and towns. This will enable you to speed up your home search and ensure you can find a house that suits you perfectly.

Keep in mind your day-to-day activities as you consider where you want to live too. For instance, if you work in the city, you may want to pursue houses in or near the city itself. On the other hand, you may be able to purchase a small town home for less than what you would have to pay for a city residence and commute into the city for work.

3. Your Homebuying Timeline

Determine how quickly you'd like to finalize a home purchase. That way, you can map out exactly how you want to approach the housing market.

If you are committed to buying a house as soon as possible, you'll need to be proactive. The top houses sell quickly, and if you don't act fast, you risk missing out on your dream residence to a rival homebuyer.

Conversely, if you can afford to be patient, you can avoid pressure throughout the homebuying process. In this scenario, you can pursue houses at your convenience. And once you find the right home, you can submit an offer and finalize your home purchase.

When it comes to creating a homebuying roadmap, it generally helps to get support from a real estate agent. In fact, this housing market professional can provide plenty of assistance throughout the homebuying journey.

A real estate agent will learn about your homebuying goals and help you develop a successful homebuying roadmap. Furthermore, he or she can keep you up to date about new homes as they become available and make it easy to discover a wonderful residence at a budget-friendly price.

Ready to get started on the process of purchasing a house? Consider the aforementioned items as you create a homebuying roadmap, and you can plan a successful homebuying journey.




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Posted by Donahue Real Estate Company on 7/31/2019

As a first-time home seller, you may feel the need to make a counter-offer based on a homebuyer's initial proposal. However, if the homebuyer rejects your counter-offer, you may be forced to return to square one in your efforts to sell your house and obtain the best price for it.

A homebuyer's rejection of a counter-proposal is not the end of a home selling journey. And for home sellers who know how to proceed after a counter-proposal is rejected, they may be able to streamline the process of getting the optimal price for any residence, at any time.

Now, let's take a look at three tips that a first-time home seller can use to handle a rejected counter-proposal on his or her house.

1. Consider the Homebuyer's Perspective

Why did a homebuyer reject your counter-proposal? A first-time home seller should consider why a homebuyer decided to move on from a house after a counter-proposal was submitted and learn from the experience.

For example, if a home seller held firm on his or her home price, a homebuyer may have been unwilling to pay this amount. Thus, a home seller may want to consider lowering the price of his or her residence in to help stir up interest from large groups of potential homebuyers.

2. Review All of Your Options

A first-time home seller who submits a counter-proposal and receives a rejection from a homebuyer still has plenty of options, regardless of the current state of the housing market.

For instance, a home seller can keep the price of his or her house intact. Then, this home seller can await potential offers that match or exceed his or her expectations.

On the other hand, a home seller may choose to conduct assorted home improvements to upgrade his or her house's interior and exterior. These upgrades can make a world of difference in the eyes of homebuyers, and as a result, may make a home more attractive than other residences that are currently available.

3. Collaborate with a Real Estate Agent

A real estate agent is a difference-maker for a first-time home seller, and for good reason. This housing market professional can offer expert guidance that a home seller may struggle to obtain elsewhere and ensure that a property seller can make informed decisions at each stage of the home selling journey.

With a real estate agent at your side, you can map out your next steps in the home selling journey accordingly.

Typically, a real estate agent will be able to tell you why a homebuyer rejected a counter-proposal on your residence. As such, you can learn from the experience and gain the insights you need to prevent the same problem from happening once again.

Selling a home can be difficult, particularly for those who have listed a residence for the first time. A real estate agent will help you take the guesswork out of selling your residence and do everything possible to ensure you can get the best possible price for your house.

Ready to overcome a rejected counter-proposal on your home? Use these tips, and you can proceed with confidence along the home selling journey.




Categories: Uncategorized  


Posted by Donahue Real Estate Company on 7/24/2019

For those who want to enjoy a fast, profitable and seamless home selling experience, there is no need to worry. In fact, there are many things that you can do to minimize the risk of a home selling fiasco, and these include:

1. Conduct a Home Inspection

A house inspection usually is completed after a seller accepts a buyer's offer to purchase a residence. At this time, a buyer typically requests an inspection to identify any underlying house issues. If a buyer is satisfied with the inspection results, he or she likely will proceed with a home purchase. Or, if a buyer encounters myriad home problems, this buyer may reconsider his or her offer to purchase a residence.

By conducting a home inspection before you list your house, you can immediately identify any underlying home problems. You then can work to correct various house problems and avoid the risk that such issues could potentially slow down or stop a home sale in the near future.

2. Perform Home Upgrades

When it comes to selling a house, it generally is a good idea to be proactive. And if you allocate time and resources to upgrade your house now, you may be better equipped than ever before to stir up lots of interest in your residence as soon as it becomes available.

To enhance your house's exterior, you should mow the front lawn, fix any cracked or damaged home siding and perform assorted home exterior repairs. By doing so, you can improve your house's curb appeal.

Furthermore, don't forget to devote attention to your house's interior. If you can clean every room of your home and eliminate clutter, you could boost the likelihood of a successful home selling experience.

3. Collaborate with a Real Estate Agent

Getting the best results Ė and avoiding potentially time-intensive and costly problems Ė is paramount for any home seller. If you collaborate with a real estate agent, you can get the help you need to quickly sell your house and maximize your earnings.

A real estate agent is happy to help you kick off a successful home selling journey. First, a real estate agent will meet with you and learn about your house and home selling goals. He or she next will help you craft a home selling strategy based on your residence and the current real estate market's conditions. Then, a real estate agent will promote your residence to buyers and host open house events and home showings. And once you receive an offer to purchase your residence, a real estate agent will help you review this proposal and make an informed decision.

Let's not forget about a real estate agent's industry expertise, either. If you ever have questions during the home selling journey, a real estate agent will instantly address these queries.

Reduce the risk of encountering problems when you sell your house Ė consult with a real estate agent today, and you'll be able to receive comprehensive assistance at each stage of the home selling journey.




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Posted by Donahue Real Estate Company on 7/17/2019

Living green is sustainable living. Itís a lifestyle in which individuals endeavor to reduce the number of natural resources used and the amount of waste created to benefit the earth. It aims to promote a lifestyle that is eco-friendly through various means such as energy consumption, transportation alternatives, and waste management. To go-green, individuals usually must change their whole outlook as it pertains to the earth and how their choices affect it. As trendy as it has become, it takes more than a couple of changes to really be considered living green. Sustainable-living is a big commitment.Green living makes one live healthfully. It saves money and also the environment. It is essential to live green in order to save the earth from human excess. But homeowners donít always know which ideas to follow for green living. Here are some ideas you can incorporate into your home.

Green living ideas

The main idea of living green is to reduce the waste discarded from your home. Now, many companies are taking steps to reduce their packaging. This is a good idea to follow for living green. Another idea to follow is to reuse durable containers and products. Bring reusable bags to the grocery store. Buy products in glass containers that can be recycled or repurposed in your home.

The other major ideas for living green are:

  • Love the planet. Using organic products and cosmetics is a way to lead a green life. Use hormone-free dairy products and try to buy these products in glass bottles, because glass is reusable.
  • Grow plants or trees that give off oxygen.
  • Avoid plastic containers unless they are reusable.
  • Recycle. If your city or waste removal support recycling, do your best to follow their guidelines. If there are no recycling centers available in your area, reduce your waste, and upcycle items you no longer use to someone else.

Why choose green living?

Health: There are many health benefits. Green transportation such as biking or walking gives a person exercise and reduces pollutionóliving-green includes buying local, which gives individuals fresher options. Organically-grown produce reduces the number of chemicals and pesticides in food.

Finances: Using natural, renewable resources like natural light instead of electricity or filtered water in reusable containers instead of bottled water costs less. Buying local supports neighborhood vendors and helps the community while cutting out the expense of transportation. Lower utility bills too, with solar and wind technology.

Future: Prepare for the future by saving it. By using renewable resources, cutting waste, and reducing pollution, the future of the earth can be secured for later generations.

It is a responsibility to live green and to make the globe green. If youíre looking for a certified green-living property, consult your local realtor for options.