When To Make an Offer and When to Accept One

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Financial Planning - Couple getting consulted
Financial Planning – Couple getting consulted

The team at the Whit Harvey Group  is meticulous in setting a price for their sellers. We take into consideration comparable properties in the area, the condition of the house and property, special features and upgrades that have been made. We want to price each of our listings fairly, and we work hard for our owners to get the price that they desire.

Studies show that the longer a house is on the market, the staler it becomes and offers will drop accordingly. It always comes down to price versus presentation, and often the first offer is the best offer.

But what if there have been no offers? We look at comments from all of the showings that the home has had – what have potential buyers found lacking in this listing? Are they looking for a bigger yard, larger room sizes, or different home layout? These things can’t be changed, but what if their comments are on paint colors, lack of updated appliances, or materials used? Can these things be changed, or can the seller offer money toward these changes?

What if there have been no criticism, yet there have been no offers? Then it is likely the price.

“I am reluctant to offer a price that is below their asking price. I don’t want to insult the owner.”

As a buyer, if you fall in love with a house but the price is too high, or remodeling costs make you back away, consider making your best offer, or ask for a compromise to offset future costs. The worst that can happen is that the seller will say no. But they may counter your offer, and you can be able to make a deal that is satisfactory to both parties.  Click here to read the full article.

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