How much will the sellers take?
Patricia answers the all-to common question..."How much will the sellers take?".
I've heard this question, sometimes it takes different forms or is worded differently but essentially its asking the same question to get the lowest possible price they want to know "How much will the sellers take?"
Do you REALLY think we know that? If we did, do you REALLY think we'd tell you? Patricia addresses this one...
If you are thinking about making an offer on a house you like, chances are you are planning to make an offer for something less than the asking price. And chances are you'd like some idea of what the magic number might be - the absolute least amount of money the seller will take.
Well, if you are thinking about asking the listing agent for this little piece of information, save your breath! If she knows, she can't tell you.
But guess what! She doesn't know. She doesn't have a clue.
And guess what else! The sellers don't know either. They won't have a clue of what their bottom line is until they are faced with an offer and go back and forth a few times with the prospective buyers.
So if you are wondering what the sellers will take, make an offer. If your number is too low, the worst thing that can happen is that they will reject your it. In this market, however, they are more likely to make a counter-offer. After a little give and take, you will get your answer, and if you can reach a meeting of the minds, you'll have a new house.
One of the great things about buying in a buyer's market is that you can negotiate, and most sellers are willing to do a little horse trading to sell their homes.
If you wait until the market turns around, you could find yourself having to compete with other buyers who all want your house!