Birmingham Real Estate: You've Got Options: January 2011

NASQT: Will The Seller Take $XXXXX.00 For This House?

Will The Seller Take $XXXXX.00 For This House?

I recently had this question posed to me about one of my listings.

I get this a lot.  Buyers and their agents will often verbally ask if a seller will accept a certain amount for a home that is listed.  Not to be mean or discouraging, my answer is always the same "well I don't know but if you could put it on paper, I'll be sure to present it to the seller."

Real estate agents can attest to this scenario time and time again. We've all been there before.  Faced with the buyer's agent or a buyer who wants us to commit (so to speak) the seller to an offer before it's even been presented.

People often take for granted that a home is listed higher than what the seller is willing to accept.  Sometimes that is true but it varies.  The fact is, there are homes that are properly priced and the seller expects that the home will sell for that amount.  But again, you just never know until a "complete" offer is submitted.

Even sellers often think that price is the be all end all of an offer, but there are other things to consider such as:

  • Is the seller expected to pay any of buyer's closing cost
  • Desired closing date
  • Contingencies (inspections, sell of a home, etc)
  • Financing terms
  • Is it a foreclosure or short sale
  • Will there be repair request
  • Many more to consider other than just price

Buyer's agents if you've ever listed a home before you know that verbally asking what a seller will or will not accept generally will not garner you a yes or no answer.

Buyers if you are serious about purchasing a particular home, please have your agent submit a complete offer in writing.

 

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Charita Cadenhead, Your Metropolitan Birmingham, Alabama Real Estate Broker of Choice

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Charita H. Cadenhead, Realtor®
Keller Williams Realty Metro North
Gardendale, AL 35071
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Comment balloon 83 commentsCharita Cadenhead • January 28 2011 11:32AM
NASQT: Will The Seller Take $XXXXX. 00 For This House?
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