Make an Offer/Counteroffer
HOMEiZ created the ``Make an offer on this property``, to make the process of sending, receiving, and countering offers faster and easier for all real estate agents, brokers, sellers and buyers. HOMEiZ thinks that the offer process is inefficient and lack of transparency to many Home sellers. For example, who really needs all the papers generated in the C.A.R forms in the early stage of the offer process? These documents will be needed only when the seller decides to sell the property to a qualified buyer. Real estate agents do not want all these papers in the early stage of the offer process. Sellers, buyers and their real estate agents really care about key economic terms. The deal points, the offer price, escrow, deposit, financing-approvals letters from a lender institute, contingencies, etc. HOMEiZ ``Make an offer on this property`` gives both sellers and buyers the chance to review the key terms of the deal quickly and easily. HOMEiZ is using an electronic process with E-signature to solidify the main economic and qualifying deal points, before the formal purchase and sale contract is drawn up.
Advantages of Letter of Intent (LOI)
There are many advantages to make your offer when purchasing real estate in a form of a letter of intent. Why a letter of intent? A letter of intent is used to outline the general terms of an agreement that has not yet been fully written up or signed. While a detailed binding agreement in real estate transactions often requires lengthy negotiations, careful investigation, and long delays, a letter of intent is not binding. As such, the parties are not required to adhere to the terms of the letter of intent because it is not intended to be a formal contract.
The letter of intent helps demonstrate that the parties are serious, can flush out any potential problems, and can speed up the signing of the formal agreement. A letter of intent typically outlines some of the basic terms, without creating an obligation on the part of the buyer or seller to complete the transaction, without incurring any obligation on the part of the real estate broker, or penalizing a party if either the prospective buyer or seller changes his/her mind and does not reach a final agreement. The letter of intent itself is not a binding agreement, enabling either party to walk away if negotiations or inspections go poorly.
Property Owner Offer Transparency
The offer process must be transparent
Sellers want transparency! In a buyer's perspective, many buyers experienced with the feeling that their offer was never represented to the seller. is it legal? of course it is illegal! The seller must see all offers his/her property received no matter what the listing agent thinks! All Sellers are expecting to see all offers no matter what the offer price is. Does the seller actually get to see all offers? NO! listing agents have lots of power and some will use this power in a negative inappropriate way. There are many reasons why listing agents will not want to present offers to sellers. One of these reasons is commission. Some real estate agents will want to double dip the transaction. There is a big chance that the seller will never know about it.
HOMEiZ came with a different approach that can and will solve many issues sellers and buyers have with agents and in the offer process. Real estate agents must pay attention to consumer needs. Consumers demand transparency and when transparency is not to be found in the process it may rising many questions on credibility, trust and reliability that are crucial for the consumer when hiring a real estate agent. The relationship between sellers, buyers and their agents is based on trust first of all. You may be thinking that you are the best real estate agent on earth but without creating a trust your credibility worth noting. Transparency crates trust and trust creates value and the more valuable the real estate agent is, that means more business.
How it works
HOMEiZ created the Property owners offer transparency for property owners who listed their properties for sale with real estate agents. As the property owner you are permitted to view in real time all offers your property receives. Just click on the button named Property owner offer transparency fill out with the information and send a request to your listing agent. Once your listing agent approved your request you may view all offers your property receives. Just click on the tool box and under property owner offer transparency you will see all offers your property received.