Wanda Fears (804) 909-2777
If you’ve ever been on the market for a new home, you have probably encountered a home that has been on the market for sometime. Most people and even some agents get discouraged from buying into something that has been on the market too long. Instead of thinking of this as an undesirable property, think of all the pros that you can get from a listing like this.
Price
There is probably a possibility that this home will have a price that is negotiable. If the owners have had little or no offers, they will be open to lowering the price. A lower price might allow you to make improvements and upgrades to the house and make it more appealing to you.
Added Bonuses
The owners of the house may throw additional incentives such as paying for the closing costs and small repairs. If they want to keep you, the buyer, interested they may go above and beyond just to keep you happy and ensure a smooth closing.
Faster Closing
If you want a house that needs closing soon and that house has been on the market for a while, you can negotiate a faster closing as part of your deal. Closings can be lengthy especially if the home owner needs to move into a new place or purchase another property. If their home has been on the market for a while they are more likely to have a plan on what their next step is if they haven’t already moved.
There are other reasons why you may want to consider buying a home that isn’t selling right away. For example a location that is undesirable to younger folks, like living near a city center may be more desirable for an older audience, perhaps a family with kids who would like a bigger back yard. For folks that are looking for a long term investment, property in an area that is underdeveloped, could be a great match. Each person is different so make sure that you asses your needs and capital closely before making any kind of big investment.
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