Monday, March 8, 2010

Gray Maine Houses for sale , How not to sell a home?

What to do if the buyer and seller cannot or will not agree on the price? How far apart is too far to bring the two together? Is $5000 too much? What about $10,000? How about $30,000? It obviously depends some on the value of a home, but in this example lets say the price is $430,000. The buyers offer $370,000 and the seller drops to $400,000. The buyers hold firm. Is the deal dead in the water? Perhaps in most instances, but is that the case because the realtors don't work hard enough or get creative enough to keep working and find a way to bring the parties together?

Here is one way to start getting creative? Is there other properties being sold and purchased, the buyer selling a house and the seller buying a new house? There are ways to tie some of the money from those deals into this deal that may or may not help bring the two into agreement. If working with the seller who is stuck at $400,000, and they are buying a home with part of the proceeds, take a good look at the home or homes they are looking at. Can they expect to get a good reduction in price in the area they are going? For instance, if buying in some areas in Florida where the market is taking a bigger hit than homes for sale in Maine, you should be able to show your client a savings on the next transaction of $5000 to $10,000 that they did not expect. So maybe they can accept a little less knowing they can get the new home for less as well.

If I am working the buyer who is holding firm at $370,000, and they have a home to sell (although they don't have to sell in order to buy the new home) then there are a couple of options. Perhaps they rent there old home for a couple years until the market comes back and then sell and get more for their home, or the realtor could offer to sell their home for a big reduction in commission, netting them more on their home and allowing them to pay a little more on the new home.

By using these ideas and some more which I will blog about later, I was able to bring the parties together, at least for a little while (read the next blog to find out what else happens and what lengths a realtor will go for their clients).

Everyone has to remember what the parties goals are, and try to keep a positive attitude about things. The realtor(s) needs to be looking ahead for issues and try to find solutions and have answers incase problems do arise.


buythebesthome said...

I think Both the buyer and the seller must have to be understanding about the situation.
I'm both a buyer and a seller from Unique Loft space .

Cumberland said...

Makes for a great day and an even better pay day. Congrats on the sale and best wishes for many more to come