Showing posts with label negotiating the price of a house. Show all posts
Showing posts with label negotiating the price of a house. Show all posts

Saturday, February 16, 2013

A Seller's Emotional Roller Coaster

Selling a home is tied to a lot of emotion.  
It's always tied to a life change and change can be extraordinarily stressful for some people and exhilarating for others so it's only natural to go through a range of emotion when preparing to sell a home and having your home on the market.

How do you keep your emotions at bay?  The best answer is have a plan and be prepared and organized.

Think about your goals and motivation for the move. Why are you moving and where are you going?

Know how much you owe on the house and how much you need to make your move. Ask a real estate agent to help you make a list of selling and moving expenses. Talk to a mortgage professional about your financing options.

Decide on your time frame.  When do you want things to happen?  What if your house doesn't sell? What if your house sells too fast? Moving can take months of planning!

Get your house prepared.  Don't act like you haven't seen the shows on TV where they do home makeovers. Anything you don't NEED to live should be sold, donated or stored off-site.  Less is more when selling.  Need help? A good agent will know a good home stager.  *Do NOT pack away your tax records and financial information.  If you are buying another home, you will likely need this info!

Get your maintenance and repairs done and have a thorough cleaning.  Hit the internet, scour the phone book, ask your family and friends or check with your agent; however you choose to do it, get help. Inspectors, handymen, cleaning companies may be an added expense but they will help your home sell faster and for more money... and it's always less stressful when a professional does it than trying to get everything done yourself.

Understand the challenges of selling a home in the current market.  It's easy to be let down when you house doesn't sell for as much as you would like or in the time frame you would like.  There will always be hiccups along the road but if you have spent time weighing your options and preparing, you can tackle them!

Need help getting through this? Call me!

Moral of the story? Don't go it alone! You need to lean on friends, family and probably most importantly a few good professional. :)


Friday, February 1, 2013

Respect the Other Side's Priorities

All roads do not lead to happiness...

When negotiating the purchase or sale of a house, knowing what's most important to the person on the other side of the negotiating table can help you avoid pushing too hard on hot or sensitive issues.

Consider where you can and can't give and balance that against the other side.  As the buyer, if you really need your closing costs paid, maybe you shouldn't push for a bunch of repairs and a discount on the price.
As the seller, if you need time to find a new house, maybe you negotiate a rent-back or lower sales price for an extend closing date.

Remember, it's not all or nothing. It's what feel fair to both sides.  A good real estate agent will help you find the best terms.

This can apply to everyday challenges as well.  Unfortunately, I have taught this to my daughters all too young.

"Mom, I know you really want me to go to bed.  An you know that I am always hungry at bed time.  So if I could just have some ice cream now, I can go to bed without telling you I am hungry."
:)

Have more questions?  Call me!

Further Reading:
7 Step Guide to Selling Your House
Should-I-ask-seller-to-pay-my-closing-costs
Moving Advice



Monday, December 17, 2012

Is that home priced right?

Negotiating the price of a home that is fair to both the buyer and seller can be challenging.

There's no question that significantly overpricing your home will turn off potential buyers.  Getting no offers at your price and even worse, no showings will force you to reduce the price of your house in just a week on the market (or sit on the market and become stale, outdated inventory that will return you a most likey evn lower sale price).  

Likewise, making an offer that's far lower than the asking price is practically guaranteed to alienate the sellers. They may push back hard or not respond to your offer at all.

Asking and offering prices should be based on recent sales prices of comparable homes.

What is the easiest way to compare sales and come to an agreement?
Call Sarah for help!  651-964-0289

Search "A Price To Good to be True" for more about home prices!