I'm running into this quite frequently, so I'm sure you are too.  The scenario:  seller's with nicely kept properties, but they are needing to sell because the payments are just too tight.  They're making them, but barely.  The loan payoff amount, commissions, and closing costs will leave them with nothing at closing.  And that's if they're lucky.  Many will need to bring $$ to the closing table.  That is, money they don't have to begin with.  Short sales, foreclosures, and lender owned properties have done a doozie on the neighborhood comps. 

I'm always honest and forthcoming with these sellers, showing them the data to back up what I'm saying.  It's just frustrating though!  I want to help them, but feel like my hands are tied. 

I am taking an amazing listing this evening.  It's model home perfect.  Really.  But it's this same situation.  There is no padding to speak of....I'll have to rely on it's turn key condition, all of the upgrades, and allow my marketing to do its job.

How have you handled this successfully in this challenging sellers market so many of us are experiencing?  Any great marketing tips that have worked for you lately?

 

Krista Ingram - Colorado Realtor

 

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4 Comments on WHAT TO DO WITH SELLER'S WHO DON'T HAVE WIGGLE ROOM...

APR
17
2008
It is tough all over,and buyers know it. When I am trying to sell a home,I always remember my $$$ is in the house somewhere.
2:19pm • #1
Outside Blog
It is difficult to sell a home when they may come up short.  Sometimes the bank will let go some or they can do an unsecured note for a small balance.
2:21pm • #2

Ask if they are willing to throw in chattle.  I put one together the other day by convincing the seller to throw in their elliptical machine and plasma tv.  The Buyer cam off 40K for 5K worth of merchandise.  Just make sure you handle it with a separate bill of sale or you may end up with an appraisal problem.  If this advice helps please donate something to the Trinity Women's and Children's Shelter at this link: https://www.nfpsystems.com/contrib/contrib.asp?org=70 

 

2:36pm • #3

Thanks for the advice regarding chattle.  I'll keep my eyes peeled tonight when I'm at the property for anything that could be of interest to buyers.  We are seeing a lot of flat screen TV's in the mls remarks lately!  Ultimately, the value proposition has to be there....regardless of where we find it!

Krista Ingram

3:03pm • #4

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KRISTA INGRAM

Littleton, CO

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KELLER WILLIAMS REAL ESTATE, LLC

Address: 10475 East Park Meadows Drive , Suite 550, Littleton, CO, 80124

Office Phone: (303) 768-9200

Cell Phone: (720) 281-0779

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