In a seller’s market, we may receive an offer right away. Buyer agents with active buyers are on a daily watch for new listings. Well priced and well presented homes still can sell quickly and if your home meets the needs of an active buyer, his or her agent will show it to them as soon as possible.
If this happens, it does not mean that your home was underpriced. Do NOT beat yourself up that you should have asked more. Overpriced homes that sit on the market get stale and the best way to obtain the highest price is to sell quickly.
Everyone wants a DEAL. Most buyers want to try a “low ball” offer to see what happens. Don’t be offended. If your home is reasonably priced, we’ll simply counter back. If you’re a little high, you’ll probably need to give a little. We’ll discuss your options thoroughly and you will make the final decision.
A contingent offer is one where the buyer needs to sell a home to qualify to buy yours. Responses to a contingent offer include the following:
1. Reject it, who needs the hassle? 2. Accept it, hopefully they’ll be able to sell their home. 3. Counter with a First Right of Refusal.
Home Sale Contingencies definitely add a wrinkle to the process. Instead of one inspection, one loan approval, one appraisal, we have to deal with TWO. Any real estate deal, contingent or not, can fall apart at any time prior to closing, but it is slightly more likely to happen with a contingency.
I will be providing feedback to you from agents who show the home, so we may already know what the problem is (price, condition, location, etc.). Some homes simply take longer to sell than others, but in today’s market, some homes don’t sell at all. If we aren’t seeing second showings or receiving inquiries from showing agents within a reasonable amount of time, we need to discuss alternative strategies, including price.