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Sellers!!

I have had a listing for a couple of months now. This property is needs a minimum of $110,000 worth of repairs. My market is pretty strong for the most part. I have had 2 offers at $500,000. This property is not worth much more than that! It is listed for $549,000. The seller is getting more realistic but losing buyers who will pay the price because he is chasing the market instead of being ahead of the market. He cannot keep the property because he cannot afford making the repairs. I cannot seem to get it in his head that the home is worth what buyers are willing to pay. On top of it all, he inherited the home and only owes $80,000. Have you had any hard headed sellers?

Posted by Jean Powers CRS,PMN,ASP Broker, Northern California on 09/14/2008 09:51 PM

Comments (7)

alameda real estate, craftsman, sellers

7 Comments on Sellers!!

SEP

2008

Did you show him a net sheet for the $500,000 offers? Sometimes you need to have sellers focus on the net and not the sales price.

Have you had any hard headed sellers?

Uh...YES...!

Hi Rich,

I have completed 3 different net sheets. His attitude is I need this amount. Of course I told him the home isn't necessarily worth what you need.

All of them...it's called greed

Yes. I think we need to start a 12 step program for them. although step 1 admitting there is a problem is the problem-LOL-Dinah

Jean, I think that Sellers like this are the nature of the beast! I wish that all of my sellers had that kind of equity!

Dinah..I like your suggestion! A 12 step program for sellers. I think that is GREAT!

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