Getting an offer on your house is the first step in getting it sold, but buyers often feel that they have to come in lower than your asking price. After all, everyone wants the deal to work out in their favor. If the offer you received isn’t quite what you hoped, you can always make a counter-offer. Getting the details right can help make your deal go more smoothly.
Deciding On A Price
When your real estate agent helped you set the price of your home, you already had an idea of what it should fetch in the marketplace. If the offer wasn’t far off from your asking price, it’s acceptable to counter with your original asking price. Many buyers could be willing to pay full price. If you feel that technique is a bit brazen for your style, you could instead drop the original price by a few thousand dollars.
Another technique is to try to “meet in the middle”. For example, if there’s a $10,000 difference between the asking price and the offer price, you might offer to drop the price $5,000. Of course, the bigger the difference, the less enthusiastic you’ll be about dropping your price.
Factors To Consider
Keep in mind that the actual selling price of the house isn’t the only thing that will be negotiated. If you’re giving in a little bit, then you should expect to get a bit in return, but the same is true for the buyer. For example, a first-time homebuyer might not have a lot of money for a down payment. If you counter with an offer that’s too high, they might respond with another offer accepting the price, but asking for seller’s concessions at closing time.
Additionally, as you start to come down in price, you might consider taking out items that you might have included in the original offer, such as high-end appliances.
Don’t Forget The Fine Details
Discuss the details of what you want with your real estate agent. They’ll be able to let you know if you’re making the right move, considering the current market in your area. They may also have information about the buyers, such as an educated guess about how high they’re willing to go. Your agent will also have all the paperwork you need readily available. In most cases, all you have to do is fill in the blanks in a few spaces.
You want the highest price for your home, but getting the best deal is often a delicate dance. Know your limits and work together with the buyers to reach an agreement that is mutually beneficial.
There is no requirement for a homeowner to work with a real estate agent when selling a property, and many homeowners consider saving themselves the cost of a real estate agent’s commission fee in an effort to reduce costs and to keep more money in their pocket from the sale. While this may seem to make sense, the fact is that a real estate agent’s services have true value to you, and there are several key reasons why you want to work with a real estate agent when selling your home.
Selling a large house requires showing buyers its potential as a place where they can raise their families, enjoy space to grow, and make it their own. Preparing a large house can be a big task. There are more rooms to clear out, more square footage to get in tip-top shape, and more accumulated belongings to sort through. However, a large house also has strong points that appeal to buyers looking for a spacious home.
Depending on where you live, selling your house in the spring could take a few weeks to a few months. Although people are in the market to buy a home all throughout the year, spring time appeals to buyers who may be planning to use an income tax refund to help with the down-payment or closing costs. If you want to sell fast make sure you pay attention to the details like curb appeal, freshening the interior, and pricing your home right.