I am really mad at the sellers…

by author

Well I’m not but my buyers are. Here is the situation. We go visit a home prior to it being listed. It was going on the market two days after we saw it. My clients liked it but they felt it was overpriced. We submitted and offer two days after seeing it at what we believed to be a fair price and the sellers countered back with what turns out to be 2% off the purchase price. Now, of course I warned my buyers that sellers typically have the upper hand in this particular area and not to expect too much movement on the price. In fact, when I saw their counter offer I had said that they were lucky to get that much considering that the home had only been on the market for one day and they were planning for an open house. Moreover several other prospective buyers were coming back for a second showing.

It is important to understand the local environment when making an offer. Even if a home seems to be priced high, Nice homes in “desirable” areas are seeing prices rise and bidding wars as result of low inventory.

Published on 2015-06-29 14:23:44