Congratulations! I have great news. Someone wants to buy your home!
Don't you just love to make that phone call to your clients? My clients have been waiting three long years to get their home sold with no offers and I finally got to utter those words.
As you can imagine, I have gotten pretty close with my clients over this time, and we can still laugh about how crazy this market has been. He says if after all this time if we can't laugh, we might as well forget about it.
When I told him the good news "Someone wants to buy your home", he said "and they are offering $xxx,xxx" ($10,000 below asking price). I said, "No lower, but it's better than the offer you had yesterday". He laughed, but after discussing with his wife, they decided not to counter and waste anyone's time since they were too far apart.
Fortunately for me, the buyer's agent was well aware that the offer was way too low and advised her clients that this price just might be offensive. Not a way to start a negotiation, right? Anyway when she called her clients, she advised them if they really wanted to purchase a home, they needed to work with their lender to determine their best and highest price.
After a day of crunching numbers, they came back with their highest and best offer. Mind you it was still quite below what my clients were looking for. I was able to contact my sellers with the new offer price and help them crunch their numbers to see that even though this was below where they wanted to be, they would make up the difference in the freed up cash flow from the cost of owning the home in about a year. So in the long run and without knowing when or if another offer would come along, they decided to take the offer.
It's really helps when you have a good relationship with your clients and you can really talk about what could be in the best interest of everyone.
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