David G. Brown - HOW TO REDUCE YOUR RISK IN REAL ESTATE INVESTING

they will be looking for direct answers and your reactions to these questions. Any reluctance on your part will show the buyer a lack of confidence. The best way to handle a tough question without giving out too much information is to answer with another question. If they ask you if your home has been on the market for too long, simply answer imprecisely — e.g., “not long” — then ask them how long they have been looking. Their answers empower you just as much as your vagueness weakens them. When asked why you’re relocating, answer with vague reasons, such as downsizing or eliminating stairs. Again, turn the tables by asking them a question: “Why are you looking?” To learn if you have any time constraints, a buyer could ask how soon you want to move. Tell them you’re flexible (even if the truth is that you would really like to move immediately). Next, it’s your turn to ask them questions. Directing the question back to the buyer maintains your control of information. Keep in mind that the price you paid for your house doesn’t have any bearing on the current market value, so if the question comes up, simply smile and tell them you won it on a bet! Facing questions on the pricing of your home shouldn’t be difficult if you’ve put serious effort into your asking price. If you based it on professional market value estimates, then tell buyers that. Don’t forget to point out recent sales of comparable homes and the improvements you’ve made. You might also be asked about competitive offers from other interested buyers — something that’s a constant concern for a home shopper. You can always tell them there is definitely interest, but nothing on paper.

Buyers might ask why your home hasn’t sold yet, and you can tell

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