I was holding an open house yesterday on one of my listings that just had a price reduction. On the open house sign I had a card, in red, that said "New Price".
A woman came through the open house and asked me what the price was. I asked her to have a look around and tell me what she thought it should be. Her response was, "So is this one of those situations when you just make your best offer?"
I thought to myself, "Isn't that always the case? Every single person that has their house on the market wants to see your best offer." Regardless of the market. Sellers want to see offers. All of them.
I have clients that want me to let them know when there is a price reduction on a certain property, which I am happy to do. But I ask, "Why would you wait for a price reduction? Why don't you just write an offer for what it is worth to you?" Sellers want to see offers.
If you are interested in a property, don't wait for a price reduction. Someone else usually writes an offer and you miss out.
There are only 3 things that can happen if you write an offer:
- it will get accepted
- it will get rejected
- it will get countered
Particularly in a slow market like this, sellers will not be offended by an offer. They will be grateful to have an offer to work with. Sellers want to see offers.
If you have a down payment and good credit, now is a great time to buy and negotiate yourself a good deal.
Feel free to contact me if you have questions or want more informaton.