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“Buyers market” means low ball offers.

By
Real Estate Agent with Windermere Peninsula Properties 106564
low ball offers
Sellers certainly want to sell their homes but the question is “at what price?” From where I stand, my suggestion is sellers should open to low ball offers.

There are no buyers, only investors

Most everyone looking for real estate in this market is looking to score a steal, not just a good deal.  That means low ball offers, not much negotiation and heavy buyer demands.  If you are a seller, prepare yourself for a brutal road of low ball offers. My advice to sellers - Price your house attractively and allow a lot of room for further discounting.  Don’t think about a lot of negotiation – there won’t be much.  There are too many other bargains out there.  And prepare to fulfill a lot of closing requirements like full inspections with repairs, seller-financed closing costs and long closing periods with a light earnest money. The question you should be asking yourself as you put your home on the market is “what is my final goal?”  Once you have an answer, forget it. Allow the market to tell you what you will get.

Think about accepting low ball offers

There are mutual funds and investment vehicles that have been returning better than 10% annually the last couple of years.  Gold, commodities, oil are all up and your house is going down.  If you have the cash, it's a far sight better than losing another 4% on your home because you turned down low ball offers.
John Michailidis
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

You have an interesting perspective that I enjoyed reading! Thanks!

Jun 24, 2011 12:21 PM