Making an attractive home-purchase offer
Microhood a must for any Kitchen Upgrade
Making an attractive home-purchase offer
By Dian Hymer, Distributed by Inman News
It's easy to assume that negotiating is adversarial. You, the buyer, are on one side -- the side that wants to buy a property for the lowest price possible. The opposition on the other side is the seller who wants to sell for the highest price possible. You're locked in a tug of war to see which side will win.
It's more productive to look at a negotiation as a problem-solving process. You and the seller may have different ideas about what price the property should sell for. However, you're united in a common goal of consummating a deal. The challenge is to resolve your differences through a process of give and take until you either reach your common goal, or decide to go your separate ways.
Of course, you have to arrive at a mutually agreeable selling price for a sale to go through. Sometimes this will happen quickly; sometimes it's a drawn-out process that can last over days or even weeks.
HOUSE HUNTING TIP: Patience can be your ally. Sometimes rushing the process can quicken its demise. In fact, you may be better off waiting before starting the process if you think that the asking price is too high.
For the first time in years, we are in a market where some home sellers -- typically those who bought recently -- won't be able to sell their home for a profit. But, they may need to test the market to be sure.
If this is the case, the best negotiating strategy may be to offer nothing until the sellers are close to reducing their asking price. There can be a benefit to making an offer just before a price reduction is made. If you wait until the price is lowered, you could end up paying a higher price if other buyers suddenly become interested.
In order to make sure you know that the sellers are contemplating reducing the price, ask your real estate agent to talk to the sellers' agent and make sure that the sellers are made aware of your interest. Don't be bashful about the fact that you are interested, but not at the current price. This way, you may receive a call when the sellers decide they'd like to see an offer from you.
When you make an offer and there's no competition from other buyers, your initial offer price should leave you room to move up in price. But, it should not be so low that it's insulting to the seller. Otherwise he or she might not respond at all. An offer that's much lower than the market would give the seller the impression that you can't afford more, so there's no point in issuing a counteroffer.
Buyers often think that if they start too high initially, they'll end up paying too much. Your initial offer price should be good enough to entice the seller into a dialogue. It's a price to get the ball rolling. From there, you can move up in small increments, if necessary.
Don't get so caught up in negotiating the price that you overlook other opportunities for consensus building. Most good negotiations have a sense of fairness about them. During the process of your negotiation, you and your agent should brainstorm all the possible ways that you can accommodate the sellers.
Do they need a quick close? If so, they might be willing to give more on price for a speedy close. However, you might want to hold up offering this information at the beginning of the dialogue. That way, you have something more of value that you can offer the sellers in exchange for a further price concession.
THE CLOSING: When you get close on price, offering to split the difference can put a seal on the deal.
Dian Hymer is author of "House Hunting, The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide," Chronicle Books.
Microhood a must for any Kitchen Upgrade
By Paul Bianchina, distributed by Inman News
Looking for a nice way to upgrade your kitchen and add both counter space and convenience? You might not need to look any further than replacing your existing range hood with a microwave/hood combination. Now known generically as a microhood, this useful appliance comes in a variety of colors, sizes and features to fit the requirements of just about any kitchen. Plus, it elevates the microwave to a more convenient height and gets that pesky little appliance off your countertop, freeing up valuable space.
Microhoods are available in standard sizes and venting options that, in most cases, make them relatively easy to install in place of a conventional hood. When shopping for a microhood, look for a model that is the same width as your existing hood -- typically 30 inches to 36 inches wide -- and then look for the features you need. As with most appliances, features add cost, so concentrate on the ones you think you'll really use.
INSTALLATION
Installation is a relatively straightforward endeavor, and most units are well designed for the do-it-yourselfer. The unit should come with all of the brackets and bolts you'll need, along with a mounting template that greatly simplifies the placement of the necessary fasteners.
The first step is to remove the old unit. First, shut the electricity to the hood, and verify that it's off. Locate the junction box on the underside of the hood, remove the cover and disconnect the wires. Remove the screws that hold the hood to the underside of the cabinet, and lower the hood. As the hood comes down, pay close attention to how the electrical cable enters the hood and how the hood is vented. You may need a second set of hands to support the hood while you carefully disconnect both the cable and the vent pipe.
Unpack the new unit, and carefully study the instructions. The first step is typically to figure out how you are going to connect the vent, which is usually dictated by how the old hood vented. Most microhoods give you the option of venting through the top or through the back, and there is usually a metal plate over the fan that can be moved to accommodate which venting option you want to use.
Microhoods have a rectangular vent outlet, usually with a damper, so if you have an existing round duct you will either need to install a rectangular-to-round adaptor or replace your old round duct with rectangular. The template that's supplied with the appliance will give you exact locations where to place the vent, and the dealer where you purchased the microhood can supply you with any pipe or transition adaptors that you might need.
Another option with some microhoods is to make the unit recirculating, meaning that it does not vent to the outside of the house. While definitely easier, since it doesn't require ducting, recirculating hoods pump a lot of moist air back into the home, so avoid the temptation to use this option.
Once you have the venting figured out, the next step is to install the mounting bracket. Place the template on the wall as directed in the instructions. Determine which mounting holes you are going to use -- the template will give you several options, depending on where the structural supports are in the wall -- and predrill these locations. Remove the template.
The microhood itself mounts into a bracket or a box, which is supplied with the unit. The bracket is installed with lag bolts into the wall for support, along with fasteners that hold the bracket to the cabinet. Remember that microhoods are quite heavy, even empty, and that weight increases as you load it with food. Make sure that you install all of the necessary bolts and other fasteners supplied with the kit, and that they are seated into solid wood as required.
Most microhoods have a cord with a plug, as opposed to the hardwiring found on most range hoods. If your old hood was hardwired and you now have an electrical cable to deal with, you will need to route the cable into an electrical box and install a standard grounded outlet that the microhood can plug into. If you are not comfortable with how to do this correctly, be sure and consult with a licensed electrician.
The final step is to install the unit itself. Drill a hole in the bottom of the cabinet as specified, and route the electrical cord through the hole. Slip the microhood into the mounting box or bracket, and secure it in place. Plug in the cord, remove all packing materials, and you're ready to go.
Each microhood installs a little differently. Be sure you read and follow the manufacturer's instructions exactly, that you comply with all necessary clearances, that you have a properly installed and grounded electrical outlet, and that you install all the required fasteners. If you have any doubts about any aspect of the installation, your dealer can help you arrange for professional installation.
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