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An agent we have worked with in the past has a potential buyer she wants to show the house to, even though we are not currently listed. She knew we would still like to sell & kept our house in mind, as asked. We are filling out the needed paper work to do the one showing to these folks, etc.
BUT my question is!
Should we give an asking price, in anticipation of a lower offer and take it from there.
OR
should we just go ahead and price the darn thing at our bottom dollar, as is, no quibbling, take it or leave it. It is what it is. We buy a warranty, can be out asap....period
And cut out any back & forth poop.
what do y'all think?
I am so dingy headed today I can't think straight.
SO-thank you for any help!
An agent we have worked with in the past has a potential buyer she wants to show the house to, even though we are not currently listed. She knew we would still like to sell & kept our house in mind, as asked. We are filling out the needed paper work to do the one showing to these folks, etc.
BUT my question is!
Should we give an asking price, in anticipation of a lower offer and take it from there.
OR
should we just go ahead and price the darn thing at our bottom dollar, as is, no quibbling, take it or leave it. It is what it is. We buy a warranty, can be out asap....period
And cut out any back & forth poop.
what do y'all think?
I am so dingy headed today I can't think straight.
SO-thank you for any help!
I have no problem with the second approach. But it should be presented as "This is what we are willing to do today to make a deal, and hope we can make it work."
Not, "Take it or leave it."
Offer it in the best light you can, reaching across the void of uncertainty, not an "In your face" sort of abrupt thing.
Last edited by MikeJaquish; 06-30-2010 at 01:16 PM..
Since it isn't on the market, do you need to set a price at all? If it is an option, you might be better off to have a number in your head, but just say "make an offer based on what you think the house is worth and we'll discuss it from there."
Since the potential buyers's agent contacted you I would hope that agent has already given their client an idea of what is a fair price. In such cases that price should be communicated to you by the agent. If it is way below what you are willing to accept you should tell the agent that you need to see the comps they used to arrive at that price...
I think regardless of what you "list" for the natural inclination of a buyer is to offer less. It's been ingrained to not pay full price on anything you can negotiate a purchase price (ie houses, cars etc). Just keep in mind you need to know what the market value is for your home. If you ask too much and the sales price will not appraise, the buyer will not be able to obtain financing, unless they're willing to come up with more $$ out of pocket. If you list for under market value you could leave $$ on the table.
I think regardless of what you "list" for the natural inclination of a buyer is to offer less. It's been ingrained to not pay full price on anything you can negotiate a purchase price (ie houses, cars etc). Just keep in mind you need to know what the market value is for your home. If you ask too much and the sales price will not appraise, the buyer will not be able to obtain financing, unless they're willing to come up with more $$ out of pocket. If you list for under market value you could leave $$ on the table.
I like doing the bottom line approach, however, I've also found that in today's market, buyers still feel they should have the last word and will probably still come back with a counter, so do the verbiage, just don't do your actual bottom line. Keep a small buffer for the "just in case."
I'm not an agent, but I couldn't resist. I like the idea of having them make an offer first.
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