In most markets it is no longer a buyers market has the amount of homes for sale has sharply declined and the amount of buyers has increased. You cannot base offers on asking price as homes priced to sell often sell for mor ethan asking. A good buyer broker can easily guide you in your market.... more
This is usually an indication of a changing market. When homes have been on the market for a while buyers will start to look at those listings and offer lower prices. I've been on both sides of this situation. It doesn't serve the parties to lie about having another offer. Also, a higher offer can be that it was $100 more than yours.
A higher offer isn't always the better offer either. It's important that you have these discussions with your agent so that they can give you the best possible help.
Have an amazing day. The perfect home is waiting for you.... more
It should be a buyers market for some time to come so I would not rush into something if your credit is bad. My suggestion is to sit with a local mortgage planner and have them run your credit. Then put a plan in action to raise your scores and work on any debts you may have with a target to purchase in the first or second quarter next year. Let me know if you have any further questions.
Dave Muti... more
It's a big question mark. Three years ago on properties in the city, no one seemed to care. My thought is if you have already moved through your inspection and option period would be to keep them, but it is hard to put a value on them. You might get a royalty check for $13/month for the rest of your life so $1000 might be a good deal for you. You might not get any production from it and maybe oil goes to $1000/barrel next year and they're work lots more? Tough to tell. What is your realtor saying? Many mineral rights were severed from the surface rights in Texas long ago, so in my opinion resale would not be hindered in the future. You might find out from the neighbors if they have signed leases, what bonuses have been paid or are being discussed and if anyone is yet getting production so you can better determine the value.... more
Actually if you had a real estate agent could be another option just as long as the seller excepts a real estate agent /realtor to represent you and the seller pay for the buyer agent representing you.
There are standard practices that all sellers MUST follow per the laws in the state of Texas whether they have a listing agent OR a For Sale by Owner
With a real estate agent your offer would be submitted on the form authored by the State of Texas for any property purchased. Also the fact the realtor can do the entire follow thru confirming you comply with the contract and the seller complies with there end of the obligations per the State of Texas
Having an attorney can be expensive UNLESS a commercial property?
IF you are purchasing a single family home an attorney may not have the other resources for your benefit
Are your pre-approved to purchase the property? I am a Dallas real estate agent, realtor, and a Dallas home mortgage loan officer I can assist you
Contact my office if you have any further questions