Select a frequently asked question below to learn more about important real estate concepts:

Frequently Asked Questions from real estate sellers and buyers. Whether you're buying or selling single family or multifamily real estate, you can learn something valuable at OfferMarket.

Frequently Asked Questions - Real Estate - OfferMarket

Frequently Asked Questions

Real estate auctions work in a few different ways depending on jurisdiction and auction format. If you're thinking about selling your home or buying a property at auction, it's important to understand the specific details. 

 

Some auctions are conducted by private companies, such as OfferMarket, while auctions can also be conducted by local governments. Some auctions have a reserve price, while other auctions do not have a reserve price. Most auction services charge a buyer's premium, which is a fee charged to the winning buyer on top of their winning bid. 

 

### OfferMarket Real Estate Auctions

 

Learn more about OfferMarket's [real estate auction service](https://www.offermarket.us/real-estate-auctions) and how we help sellers and buyers save money.

Done properly, real estate auctions can be a great way for sellers to make buyers compete while providing a good deal for buyers. Learn more about real estate auctions.

How do real estate auctions work? - Real Estate FAQs - OfferMarket

How do real estate auctions work?

If you're reading this article, asking yourself *should I sell my house?*, we hope you know that whatever the reason for selling may be, you are not alone, and you have options. We are here to help you make the best decision and - if you do decide to sell - get the highest net proceeds for your house.

 

We believe that owning residential real estate is a powerful tool for long term wealth creation and - in an ideal world - you would never need to sell your house. In reality, however, owning and holding on to real estate is not always the right decision.

 

The most important thing is to make the best decision for yourself and your family. If after thinking through the ideas in this article, you decide to sell, your goal should be to sell for the highest net proceeds possible within the timeframe you need to sell.

> If you decide to sell, your goal should be to sell for the highest net proceeds possible within the timeframe you need to sell, with the lowest level of stress.

 

## Things to consider:

 

### Why are you considering selling your house?

 

Understanding why you are thinking about selling your house is the foundation upon which a sound decision can be made.

 

The most common reasons people decide to sell:

 

- Financial issues
- Moving out-of-state
- Upgrading, need money for a down payment
- Health issues
- Don't want to deal with managing a rental property
- Inherited and would prefer the cash
- Retirement
- Downsizing

 

### Where are you at in life?

 

If you're approaching retirement age:

 

- are you looking to upgrade, downgrade or move to a warmer climate?
- would living in a single level home be more comfortable than climbing stairs?
- do you plan on traveling for long periods of time and not want to be stressed about maintaining and carrying a vacant property?

 

If you answered yes to any of these questions, then selling your home for the best possible net proceeds makes good sense.

 

### How much equity do you have in your house?

 

Your equity is the value of your house minus the loan you have on your house. If your house is worth $100,000 and you owe $50,000 to the bank for your mortgage loan, then your equity is $50,000.

 

Getting your equity out of your house does not necessarily mean you need to sell. You can do a cash-out refinance which means your bank implements a new mortgage loan of let's say 75% of the value of your home ($75,000) amortized over 30 years, and returns $25,000 of your equity (minus fees) to you. Depending on current interest rates, your monthly payment amount may change. Moving forward you will continue paying down your mortgage but the clock has now reset and you have less equity in your home.

 

Getting equity out of your house incurs transaction fees. Whether you're selling your house or cash-out refinancing, you will pay transaction fees that eat into your net proceeds. Being aware of these fees and eliminating and minimizing them wherever possible is a best practice. It's also why OfferMarket exists. 

 

### What are your goals?

 

Does owning a house align with your goals in life? If your goal is to travel the world and work remotely in the near future, then being responsible for owning a house might not be ideal. 

 

Accordingly, the equity house might help you achieve your goals. Being able to put that equity towards achieving your goals, so long as the money is allocated diligently, can deliver powerful liberating effects and hopefully provide you with happiness.

 

### What is the property worth?

 

Before we get too far along with the *should I sell my house?* question, let's consider how much your house is currently worth. If you bought your house 5 years ago for $100,000, and it's now worth $200,000 and you think that is over-valued, the timing may be right to sell your house. You will walk away with considerable financial gains thanks to appreciation and mortgage debt pay down.

 

If, however, you bought your house for $100,000 5 years ago and it would be difficult to sell it for more than $100,000, you're looking at two core options:

 

1. does it make sense to incur transaction costs to sell my house at this point?
2. could I achieve higher returns on my investment if I sell this house and invest the proceeds in something else?

 

### What is the outlook for my local housing market?

 

Real estate is hyper local. Different neighborhoods in the same city may be on very different trajectories as far as median home values are concerned.

 

### Am I able to comfortably carry the costs of owning my house?

 

**If we're talking about your primary residence:**

 

If the costs of owning your primary residence are well within your means, and you are happy living where you are, then it doesn't make sense to sell. 

 

**If we're talking about a rental property you own:**

 

If you are consistently earning free cash flow on a monthly and annual basis and therefore not "bleeding" money, then it would be hard to justify selling unless you can confidently invest your capital in an asset that will have higher returns.

 

### What other options do I have?

 

## It never makes sense to sell un an uncompetitive process

 

The keys to optimizing your net proceeds:

 

- **high** buyer competition
- **low** transaction fees

Should I sell my house? Thousands of homeowners are asking this important question. Learn our insights to help you make the right decision for you and your family.

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Should I sell my house? - FAQs - OfferMarket

Should I sell my house?

To sell your house without an agent, you will need the following documents:

 

- Purchase And Sale Agreement
- Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards ([PDF Form](https://www.epa.gov/sites/production/files/documents/selr_eng.pdf))
- Residential Property Disclosure And Disclaimer Statement ([Example Form for Maryland](https://www.dllr.state.md.us/forms/propertydanddform.pdf))

 

### Purchase And Sale Agreement

 

The most important document is the Purchase And Sale Agreement. Commonly referred to as the "PSA" and "Contract Of Sale", this form is the legally binding agreement signed by both the Seller and the Buyer, collectively the Parties that details the terms upon which real property will be conveyed from the Buyer to the Seller.

 

Components of the Purchase And Sale Agreement:

 

- **Purchase Price:** the amount the Buyer will pay to the Seller
- **Earnest Money Deposit:** the amount of money the Buyer will place in an escrow account as a good faith gesture once the Seller accepts the agreement. If the Buyer fails to perform their responsibilities in the agreement, the Seller will receive the Earnest Money ("EMD") as damages. This amount is typically 1% - 2.5% of the purchase price of the home.
- **Acceptable financing:** the types of financing the Buyer can use (i.e. cash, conventional financing, seller financing)
- **Close by date:** the date by or before which settlement will occur
- **Inspection window:** for how long will the Buyer have the right to inspect the property?
- **Contingencies:** what would allow the Buyer or Seller to cancel the agreement? (i.e. inspection results, financing falling through)
- **Closing costs:** how will transfer taxes and recordation fees be allocated to the Buyer and Seller?

 

In traditional real estate transactions, this document is signed by the Buyer and then provided tp the Seller or Seller's Agent by the Buyer or Buyer's Agent as their formal offer. If the Seller accepts the terms in the agreement, they sign. Once the agreement is signed by the seller ("acceptance"), the contract is considered executed and the responsibilities detailed in the agreement for each Party must be met.

What documents do I need to sell my house without an agent? We'll answer this question and provide you with templates.

What documents do I need to sell my house without an agent? - FAQs - OfferMarket

What documents do I need to sell my house without an agent?

### The Simple Answer

 

The best time to buy a house is when demand is low.

 

### Seasonality of housing demand:

 

From a seasonal perspective, housing demand is lowest during the Fall and Winter months.

 

#### School

 

For families looking to buy a house, it is logistically and emotionally difficult to coordinate a move during the school year. This is why demand for single family houses spikes in the Spring and Summer so children can be settled into their new house in time to start fresh at a new school.

 

#### Holidays

 

During the holiday season, spending on gifts takes priority for many would-be homebuyers. Shortened work weeks, and holiday activities also limit the time homebuyers have to go house hunting.

 

#### Weather & Daylight Hours

 

Finally, cold weather and shortened daylight hours tends to keep people indoors makes house hunting less appealing.

 

### Going Against The Trend

 

During the COVID-19 coronavirus pandemic, we saw record low interest rates and a demand for more space concentrate demand on larger suburban houses. Accordingly, house prices rose significantly in many markets:

 

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During such times, the contrarian homebuyer would look for houses to buy in markets that were negatively impacted by this phenomenon. Therefore, instead of buying a detached single family house in the suburbs, you would buy an attached single family townhome in the city. 

 

Or have the discipline to hold off on buying until the market cools down -- per our earlier commentary this would mean waiting until the winter months.

 

As famed investor Warren Buffett said: *"Be fearful when others are greedy, and greedy when others are fearful"*.

When is the best time to buy a house? Learn our insights and save money when you buy your next house or investment property.

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When is the best time to buy a house? - OfferMarket

When is the best time to buy a house?

Our mission is to transform the way real estate is discovered, transacted and managed. In order to accomplish our mission, we must be vigilant about listing authenticity to make sure that buyers and sellers have an excellent experience using our real estate marketplace. 

 

Accordingly, we take trust and safety very seriously and feel it is important to share with you our process for listing verification.

 

### Listing verification process

 

#### ✅ Step 1: Manual Review

 

Our Trust and Safety team manually reviews every listing that is published on OfferMarket. We check state and local tax assessor databases and cross reference listing websites.

 

#### ✅ Step 2: Request For Proof Of Ownership

 

If we are unable to verify home ownership or authorized representation (i.e. property manager), a member of our team will reach out to the phone number associated with the listing to request additional information to confirm the listing.

 

1. Valid government issued identification (i.e. drivers license, passport)
2. Copy of the deed
3. If representing the owner, we will request the owner's contact information and follow up to receive their consent to list

 

### Questions or concerns? Please call or text 443-492-9941.

We take listing verification seriously to ensure trust, safety and authenticity of all listings on our marketplace. Learn more about our listing verification process.

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How does OfferMarket handle listing verification?

### Agents post for sale listings on OfferMarket for free! 🚀

 

Are you looking for websites to post your real estate listings for free? OfferMarket is a powerful, free, marketing platform used by a growing number of real estate agents and Realtors.

 

Whether you have an off-market pocket listing or an on-market MLS listing, you should be posting your listings for free on OfferMarket.

 

### OfferMarket for Real Estate Agents

 

#### What is OfferMarket?

 

OfferMarket is a real estate marketplace where agents post for free. We are a technology and marketing company headquartered in Baltimore, MD with targeted distribution to qualified real estate homebuyers and investors (fix and flip, rental property) throughout the United States

 

#### How does OfferMarket work?

 

1. Create your free listing
2. Complete all relevant information in order to be included in daily and weekly marketing campaigns
3. Buyer leads are sent to you (via SMS text message)

 

#### Why do real estate agents post free listings on OfferMarket?

 

The best real estate agents are the best marketers. Top performing real estate agents are constantly looking for ways to get their listings in front of qualified buyers. They're constantly building up their network of qualified buyer leads.

 

Here are the main reasons why real estate agents create free listings on our real estate marketplace:

 

1. Generate buyer awareness (reach more buyers) 
2. Connect with qualified buyers (build your buyers list, avoid buyer's agents)
3. Market off-market deals (pocket listings) off the MLS

 

#### Is OfferMarket really free to create listings and collect buyer leads?

 

One of the most common phrases we hear from agents is "this sounds too good to be true, what's the catch?". There is no catch. You can create an unlimited number of listings and collect buyer leads entirely for free.

Real estate agents can post free for sale listings on OfferMarket. The best real estate agents use OfferMarket's powerful marketing platform to post all of their listings.