Errors in Price Adjustments Are Costly Even when you price your home right initially, the market can shift. Let’s look at Tim and Sue’s scenario: • Initial Comparables: Tim and Sue’s home was priced at $345,000, competitively aligned with similar homes in their area. • A Month Later: Nearby homes dropped their prices or sold, and new listings entered the market at lower price points. Suddenly, Tim and Sue’s home was the most expensive option. Buyers saw their listing as overpriced, and showings dried up. By the time Tim and Sue adjusted their price, the damage was done. Their home lingered on the market, and low-ball offers rolled in. The Lesson Markets move quickly. Regularly review your pricing strategy with your agent to stay competitive. Waiting too long to adjust your price can cost you both time and money. Fraudulent Buyers: Why Proof of Funds Is Critical Sellers often celebrate when they receive a cash offer—especially after a property has been sitting for months. But not all offers are what they seem. Consider the case of a $400,000 home. The sellers were thrilled when a cash offer came through, complete with a proof-of-funds letter. The buyers even brought their extended family to the inspection, making the sale seem like a done deal. But the letter turned out to be a forgery, and the buyers disappeared without a trace. The Lesson Always verify financial documents. A seasoned real estate professional will double-check proof-of-funds letters, pre-
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