With all the talk about our uncertain
economy, you may think home
sellers are vulnerable to low
purchase offers. If you’re planning to
buy, think twice and get the facts.
Some homes are selling for more
than the asking price.
Yes, you heard right. With interest
rates at their lowest point in decades,
the housing market is HOT! Buyers
are often surprised to find that one
or more other purchase offers are
being considered at the same time.
What’s more, there may even be a
bidding war in progress at prices
above the asking level.
As a buyer, how should you
approach the price issue? What
questions should be asked? Before
indicating that you have made your
choice, ask the agent to provide
factual data to support the asking
price. What other similar homes in
the same area have sold recently, and
at what price? Is the owner considering any other offers at the
present time?
Once you have the answers, you can
move forward with a price decision.
If comparable properties support the
asking price, consider offering full
price and no more. If other offers are
pending, you may have to adjust
your sights and offer more. If you do
offer more, add a short deadline for
acceptance to your offer. This may
induce the seller to accept promptly
so as not to lose a quick sale.
If you’re planning to sell your
home soon and would like information on
it’s current value, give me a call at 223-2100
or come by my office located at:
1608 W. Broadway
