Many agents agree to list the house at a price that is slightly higher than the price it is expected to sell.
This allows room for negotiation. Most buyers want to get the feeling they negotiated on the price and got a good deal.
But in reality if you price slightly below market you may get multiple offers, and sometimes more than your asking price.
You should be careful if you ask a price that is unrealistically high. A couple of years ago it was not much of a problem. That is one of the reasons of the current slowdown.
These days the banks are more careful when they agree to give a mortgage.
The appraisers are cautious.
Recently I have heard of homes not appraising. The buyer agrees for the price and then the home is off the market. A few weeks later the buyer finds out that the home did not appraise. Then you may have to renegotiate the price. If you had counted on receiving that amount and made plans accordingly it may cause stress.
The buyer sometimes may not want to renegotiate. Please take this into consideration and discuss it with your Real Estate Agent .
Remember the agent is not going to buy your house. Some agents may agree to list at any price to get the listing. There are two other people who will determine the price :
The buyer and the Appraiser.
Comments(0)