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Old 03-06-2015, 10:46 AM
 
Location: Ormond Beach Fl
90 posts, read 126,985 times
Reputation: 280

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We currently live in a desirable location and the area is known to have too few affordable homes for sale at any given time. We own a 2 bedroom condo, great HOA, and we think we up have updated tastefully; hardwoods, previously updated kitchen, (& we just replaced all appliances) - new carpets in bedrooms and new counters in baths; and freshly painted. It is squeaky clean. We are a corner lot. Our plan is to sell in 2016 1Q, but we need to be here until at least end of June 2016 at this point. ( most likely rent back). Other less appealing condos in our small complex have sold in days, for good prices; we think they are high given their condition....

So given that, what are strategies most important so that we can receive multiple offers once this home goes up for sale. Is it timing, price, condition.... SFH frequently do get multiple offers with the homes selling over asking. Our goal of course is to get maximum price for our home and will do what we can to enable that.
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Old 03-06-2015, 11:48 AM
 
Location: Austin, TX
1,825 posts, read 2,820,785 times
Reputation: 1627
You ask a realtor. There are certainly some general things to do but it sounds like you've already done a pretty good once over on the place. Everything else depends on your local market and comps.
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Old 03-06-2015, 12:04 PM
 
Location: Georgia
4,578 posts, read 5,643,202 times
Reputation: 15968
There is no way to absolutely insure that you will get multiple offers, especially 9 months from now. Who knows what the market will be like, then? Who knows what the supply will be in your community then? We can look at trends -- but as far as getting someone to tell you how to get multiple offers 9 months from now -- that's a dicey proposition.

And you need to define what you mean when you say "multiple offers". Are you envisioning several offers, and you just sit back and take the best one? Or are you envisioning people getting into a bidding war over your condo, fighting each other and keep bidding each other up and up? Keep in mind that no matter how much they bid, you may still be at the mercy of the appraisal if they are using financing.

One way to get a lot of attention is to price it VERY, VERY carefully -- and try to price it just a hair under value, so that people see it as a great deal and don't mind going over a little. Keep in mind that you said "affordable", not "luxury" -- so you will be appealing to people who will walk away if they do not perceive it as a good deal, not necessarily the high rollers who don't really care how much it costs (unless they are buying it for a child, etc.). And buyers who got caught up in bidding wars are often difficult to deal with during due diligence, etc., because they figure they are paying top dollar, and by God, it better be perfect. Or else, they get buyer's remorse and just walk away from the deal during due diligence.

The other is to price it at value. You may find that you get two or three offers with varying degrees of contingencies, etc., and at that point, you can just throw them all in the pile and say, "OK, folks, highest and best". One or more may walk away, because they don't like being in a bidding frenzy. Or you can pick one and negotiate with them.

But please, don't get so hung up on getting multiple offers. It may sound somewhat cool for bragging rights, but the idea is to sell your home for the best possible price, not brag about how many people wanted your home.
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Old 03-06-2015, 02:17 PM
 
Location: Cape Cod
24,324 posts, read 17,065,160 times
Reputation: 35594
I agree with the local comps and market conditions. Do not forget that the economy drives real estate. Today interest rates are low and people are buying but can you count on that a year from now?

I don't like playing games. I have heard of auction style sales and agents offering the property at a super low price to create buzz then the price goes up. Most buyers do not like competition and will back away from the dreaded "highest and best by.."

It sounds like you have already updated your condo and it is looking great. If the market holds until next year and your condo is still standing tall then you will get top dollar for it. It is as easy as that.
Good luck
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Old 03-06-2015, 07:59 PM
 
175 posts, read 225,538 times
Reputation: 426
Quote:
Originally Posted by Native ny View Post
We currently live in a desirable location and the area is known to have too few affordable homes for sale at any given time. We own a 2 bedroom condo, great HOA, and we think we up have updated tastefully; hardwoods, previously updated kitchen, (& we just replaced all appliances) - new carpets in bedrooms and new counters in baths; and freshly painted. It is squeaky clean. We are a corner lot. Our plan is to sell in 2016 1Q, but we need to be here until at least end of June 2016 at this point. ( most likely rent back). Other less appealing condos in our small complex have sold in days, for good prices; we think they are high given their condition....

So given that, what are strategies most important so that we can receive multiple offers once this home goes up for sale. Is it timing, price, condition.... SFH frequently do get multiple offers with the homes selling over asking. Our goal of course is to get maximum price for our home and will do what we can to enable that.
Who cares how many offers you get? You want to get the maximum price. Those don't necessarily go hand in hand.

In fact, the best way to get the most offers would be to set the lowest price.

Lastly, who knows what conditions will be at this time next year. Your hot market could go cold in a hurry, or not.

(Aside: Intentionally fishing for multiple offers over asking and inciting a bidding war on purpose are, IMO, obnoxious maneuvers which reek of some sort of need for validation. That doesn't sound like you, so please don't do that.)
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Old 03-06-2015, 08:06 PM
 
Location: 89052 & 75206
8,103 posts, read 8,284,205 times
Reputation: 19902
In a similar situation we priced our property very competitively and then refused to accept offers until the property had been on the market for 10 days. Also had open houses for 4 days in the 10-day period.
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Old 03-06-2015, 08:27 PM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 21 days ago)
 
Location: Cary, NC
43,176 posts, read 76,815,786 times
Reputation: 45533
Quote:
Originally Posted by Native ny View Post
We currently live in a desirable location and the area is known to have too few affordable homes for sale at any given time. We own a 2 bedroom condo, great HOA, and we think we up have updated tastefully; hardwoods, previously updated kitchen, (& we just replaced all appliances) - new carpets in bedrooms and new counters in baths; and freshly painted. It is squeaky clean. We are a corner lot. Our plan is to sell in 2016 1Q, but we need to be here until at least end of June 2016 at this point. ( most likely rent back). Other less appealing condos in our small complex have sold in days, for good prices; we think they are high given their condition....

So given that, what are strategies most important so that we can receive multiple offers once this home goes up for sale. Is it timing, price, condition.... SFH frequently do get multiple offers with the homes selling over asking. Our goal of course is to get maximum price for our home and will do what we can to enable that.
Offer compelling value to the broad market, and you will have multiple offers.
Price, condition, market value all combine to create demand when the seller and agent handle it properly.
In a strong sellers' market, multiple offers are nearly the rule, unless the property has major deficiencies.

But, you can only cash out one sale, so don't get greedy.
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Old 03-07-2015, 02:14 AM
 
1 posts, read 1,041 times
Reputation: 10
Whenever I am dealing with any of my property, I don't take any risk rather I directly take a legal experts
advice as they have better idea about the market value of properties. In your case as you still have time to sell out your property you can take opinion from lawyers and do all the procedure.
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Old 03-07-2015, 07:48 AM
 
Location: Ormond Beach Fl
90 posts, read 126,985 times
Reputation: 280
Quote:
Originally Posted by WorldKlas View Post
In a similar situation we priced our property very competitively and then refused to accept offers until the property had been on the market for 10 days. Also had open houses for 4 days in the 10-day period.
This is the kind of info that I was looking for! Many good ideas and opinions from all. :-) Yes we can only accept one offer, but I'd like to get the haste out of the equation - and we would like to have some options.
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Old 03-07-2015, 01:14 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,693 posts, read 29,691,842 times
Reputation: 33260
Dear OP,
Pigs get fat, hogs get slaughtered - Idiom Definition - UsingEnglish.com
,dave
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