Tuesday, July 23, 2013

Are You a Serious Buyer?

Inventory is dramatically shrinking and it is commonplace in many markets to have multiple offers on a home. While the sellers would prefer to be able to choose the best offer for them, it can be incredibly frustrating for the buyers who might consider the following tips to get their offer accepted. 
1. Remove the uncertainty that you may not be approved for a mortgage by having a pre-approval letter from your mortgage company.
Serious Buyer2.png2. Show your sincerity by increasing the normal amount of earnest money customary for the area and price of the home. The earnest money will be applied toward your down payment and closing costs. Consider placing even more money in escrow when the contingencies have been met.
3. Specify a closing date in the contract but acknowledge that you can be flexible to accommodate the sellers moving date. If it becomes an issue, it still must be mutually agreed upon.
4. Make the contingency periods shorter if possible to make the seller feel that they’ll know sooner that the offer is solid.
5. If the contingency really isn’t important to you, leave it out of the offer. The more contingencies included in a contract, the more the seller will feel might happen to keep it from actually closing.
6. Write a personal note to the seller explaining why you like and want their home. Consider including a picture of your family and pets.
7. Physically sign the offer with a felt tip pen of contrasting color. You’d be surprised how this adds a personal touch to the offer.
Offer a fair price for the property in your initial purchase agreement. It shows sincerity and good faith that you’re actually trying to purchase the home and not trying to take advantage of the seller. The old adage that you can always go up later may never happen if there are multiple offers on the property in the beginning.

Tuesday, July 2, 2013


Insurance companies agree to insure clients against unexpected occurrences in return for a sum of money called a premium.

Occasionally, insurance companies divest themselves of current clients by either:

      a.  refusing to renew the current insurance policy, or

      b.  cancelling the current insurance coverage for a client. 

Such actions are normally taken against clients an insurance company deems “bad risks.”  A bad risk client is usually a client who has either submitted too many claims in a given time period or who has submitted a very large claim (in comparison to the premium that has been collected by the insurance company).  Of course, fraudulent claims made by a client, if discovered, will lead to an immediate cancellation of an insurance policy followed by legal action against the client. 

If an insurance company refuses to renew its insurance coverage for a client, normally your insurance agent can find another insurance carrier to insure you.   However, when a client is “cancelled” by an insurance carrier, it is more difficult to find a new insurance carrier.

For more detail regarding an insurance policy non renewal or an insurance policy cancellation, contact either Andrea Shearer, Tessa Everman, or Burton Heginger at Triplett Companies at phone number 515/232-5240.