By Kathy Henne
You’ve analyzed the home sale data that was provided by your real estate agent. You believe that you’ve priced your home fairly based on those recent sale prices. You’re feeling good about your asking price. Now, however, you’re confronted with a solid offer from a noncontingent buyer who is preapproved with a wonderful local lender, but it’s $6,000 less than you’d expected to receive.
Don’t rush to judgment. Avoid the temptation to deliver a flat NO as your answer. There may be more to the offer than meets the eye. For example, say you’re being transferred to Chicago. You’ve rented a home temporarily while waiting for the sale of your current home. Meanwhile, you’re paying rent on the temporary house in Chicago AND a mortgage payment on your current home. If you spend several months in that situation, you will have blown at least the $6,000 on these two payments.
There are a few other things you’ll also need to consider if you find yourself in this situation. Will you go ahead to Chicago to start your new job and leave your family back here? How will this separation affect your family life? If you and your family move together, who will take care of your current home? You will need to pay a cleaning service to come at least every other week to keep ahead of the dust and cobwebs to keep your home presentable for potential buyers. Also, after you take your furniture out of your current home, stains on the carpet and marks on the walls become very visible to potential buyers. These buyers will either request you paint the walls and clean or replace the carpet or they will make you an offer that they feel represents the cost of these repairs. Their estimate of these repairs is usually three times the actual cost. You will need to pay someone to mow the grass, rake the leaves or shovel the snow.
Buyers have many reasons for making offers. They believe their offer is realistic. Quite often, by keeping a cool head and analyzing your entire situation, you will be able to work things out and move on with your life.
Contact the Kathy Henne Team Re/MAX by calling 937-778-3961