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It's a lower priced home, for this area. Usually in the investor or first time home buyer area.
It's better than a lot of homes - It's got a new roof, dual pane windows, central HVAC - most of the houses don't. It also has a 2 car garage. Other houses in the area are usually single or carport.
It's in slightly better than above average condition. It's priced competitively against less upgraded homes.
Recently a couple homes that are smaller and less upgraded have closed for as much as I'm asking here.
The house is totally empty. The listing is well written, and the pictures are great.
Have only had a couple offers. (accepted one but fell apart because the buyer couldn't secure financing) This is in a hot market with not a ton of inventory. (Sacramento/Roseville area.) Houses are 'flying off the shelves' it seems.
The only thing I can think of - is my listing agent requires that the buy be pre-approved through his lender before he will accept an offer. Is that driving potential buyers away?
It's a lower priced home, for this area. Usually in the investor or first time home buyer area.
It's better than a lot of homes - It's got a new roof, dual pane windows, central HVAC - most of the houses don't. It also has a 2 car garage. Other houses in the area are usually single or carport.
It's in slightly better than above average condition. It's priced competitively against less upgraded homes.
Recently a couple homes that are smaller and less upgraded have closed for as much as I'm asking here.
The house is totally empty. The listing is well written, and the pictures are great.
Have only had a couple offers. (accepted one but fell apart because the buyer couldn't secure financing) This is in a hot market with not a ton of inventory. (Sacramento/Roseville area.) Houses are 'flying off the shelves' it seems.
The only thing I can think of - is my listing agent requires that the buy be pre-approved through his lender before he will accept an offer. Is that driving potential buyers away?
You said "the only thing I can think of" .... does that mean you are surmising? or do you know for sure: If that is true then most likely it is illegal; and against the MLS rules of the Realtors Board. Get the true facts and be sure.
If it is true, withdraw the listing from that agent and hire someone reputable who has no "agenda".
There are typically two major reasons for not selling in a reasonable market: price and location. Given that you have objectively and accurately reported that, I think you are right on target with your assessment of the special lender pre-approval requirement part of any offer process (particularly in a lower priced/income area).
While you certainly want to make sure buyer's are qualified, allowing your Realtor to add this special provision won't help YOU. If I was looking at your house, my thought would be, "Hey, there are a lot of available houses; I don't need them, they need me! ... Why should I have to 'jump through their hoops' ... just for the 'privilege' of simply making an offer?" -- Then, I would move on.
Send me a DM with your address and I'll look it up. I work in your area.
The market here has cooled significantly in the last 6 weeks or so. That doesn't mean it's going down, just moving slower. We're past the point of getting in to a new home before school starts so that urgency is gone. Many buyers are on vacation or simply have not been willing to go out looking in the 105+ temperatures which are coming again in the next week.
We're expecting things to pick up again by the end of the month as everyone gets back into town and life normalizes again.
I know some agents require pre-approval from their lender. I understand that when there are multiple offers and the agent wants to make sure the accepted offer doesn't fall through due to a "pre-approval" from a lender that didn't really do their due diligence. However, it's a major pain in the a$$ to get all the paperwork to a lender for a true pre-approval and I can see buyers not wanting to repeat that effort if it's not necessary. Plus, you have been on the market a while and you don't want anything to deter potential buyers.
The only thing I can think of - is my listing agent requires that the buy be pre-approved through his lender before he will accept an offer. Is that driving potential buyers away?
Sounds like your agent has a kick back set up through HIS lender, and does not want to waste HIS time, just wants his commission.
Get the clause removed, immediately! Geez, you really want to work with this agent? I wouldn't.
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What?!
, or they need to be preapproved through A lender?
