Wednesday, January 20, 2016

Is This Seller Realistic?

Find a property, check the comps, write an offer. Home has been on the market for 40 days. Seller stated they had an offer that they outright rejected. Well, it was pretty low-ball.

So, we submit our written offer and ask for a response by a certain time. I warn my clients that the sellers may not be reachable in that time frame but we ask for it anyways.

The agent says she is presenting our offer right at the expiration date/time. Then she tells me they need to sleep on it.

Nothing heard for over 24 hours. I check with agent and she says her clients have gone MIA.

Finally we get a counter offer on the 3rd day.........with it basically right back up at list price.

Now, if your property is soooo popular that you are in a position to ask for your list price, have at it. But, if you are not in that position, are you a realistic seller?

They bought it for more than it's worth right now. Sorry. They have to find a replacement home. I am sorry for that too.

But, when you've been on the market for 40+ days and you've had 2 offers fairly far below your current list price? That tells you what your home is the buyers out there house hunting.

Only what a Buyer is willing to pay for it!

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