Selling your Lake Nacimiento home this fall may seem like a daunting task considering that the current national real estate market is leaning in the favor of buyers. While it can be more of a challenge, it is not impossible and with the right Lake Nacimiento Real Estate agent guiding you each step of the way; you’ll find that your home can be sold in a timely and efficient manner.
As a Lake Nacimiento Real Estate agent, one of the main concerns I hear from those hoping to sell their Oak Shores or Heritage Ranch home is not getting their return on investment. This is a valid concern, and one that can be dealt with through some creative solutions. You may have buyers interested in your home, but the offers you’ve been receiving have been significantly below your asking price.
Oftentimes when buyers sense they have the upper hand, they will test the waters to see how low they can go with an offer even though your home may be fairly priced. So, what can you do if you continue to receive these lowball offers? Here are six tips that can help you navigate through these less than favorable offers.
1. Consider the terms– Price is important for most Lake Nacimiento sellers, but it’s not the only deal point. A low purchase offer might make sense if the contingencies are reasonable, the closing date meets your needs, and the buyer is pre-approved for a mortgage. Consider what terms you might change in a counteroffer to make the deal work.
2. Counter the purchase offer– Unless you’ve received multiple purchase offers on your Lake Nacimiento home, the best response is to counter the low offer with a price and terms you’re willing to accept. Some buyers make a low offer because they think that’s customary, they’re afraid they’ll overpay or they want to test your limits.
A counteroffer signals that you’re willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances that you’d like to take with you.
3. Get the agents together– If the purchase offer is too low to counter, but you don’t have a better option, ask your Lake Nacimiento Real Estate agent to call the buyer’s agent and try to narrow the price gap so that a counteroffer would make sense. Also, ask your agent whether the buyer (or buyer’s agent) has a reputation for lowball purchase offers. If that’s the case, you might feel more free to reject the offer.
4. Review your comps– Ask your Lake Nacimiento Real Estate agent whether any homes that are comparable to yours (known as “comps”) have been sold or put on the market since your home was listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.
5. Consider the buyer’s comps– Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counteroffer information about those homes and your own comps that your Lake Nacimiento Real Estate agent provided for you when you first decided your asking price. If the buyers don’t include comps to justify their low purchase offer, have your real estate agent ask the buyers’ agent for those comps or their reasoning behind such a low offer.
6. Don’t signal desperation-Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home’s listing describes you as a “motivated” seller, you’re signaling you’re open to a low offer. If you can remedy the situation, maybe by renting furniture or asking your Lake Nacimineto Real Estate agent not to mention in your home listing that you’re motivated, the next purchase offer you get might be more to your liking.
If you have been considering putting your home on the Lake Nacimiento Real Estate market, but have been leery of doing so because you’re concerned with your return on investment; I’d love to talk with you! Selling your home this fall can prove to be a positive transaction and a seamless process if you have an experienced Lake Nacimiento Real Estate agent by your side each step of the way.
Please feel free to contact me today to discuss your selling needs or to get started. I look forward to hearing from you!
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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.
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