written estimate a new roof will cost $9,000, and you counter by offering to decrease the price $4,500, thus splitting the cost of a new roof. Having the information provided is an advantage in negotiating.
When to Lower or Pull Out
Newly listed properties are likely to attract most lookers. If showings were adequate, however, and you did not receive any offers over the first three weeks of listing your home for sale, you must reflect on the possible reason. Price is likely the reason and it could be an indication you must lower the price. As the price is generally paramount when it comes to successful deals, you must know when to lower your price and when to pull out of a deal. It is self-evident in the real estate arena any home can sell, provided the price is right. So, if you do not get offers despite your best efforts to list your property the most attractive way, then probably the property is priced too high. Though you might have consulted a real estate agent to fix the asking price, you must be realistic in depending on this figure. Make a thorough comparable sales analysis to review the price. Another situation indicating incorrect pricing at listing is if offers you get are substantially lower than your asking price and buyers disappear after the counteroffer. If comparable sales validate your pricing and there are no structural or sale-killing faults in the home, if you have the economic capability, you can consider pulling the property from listing and wait till the seller’s market becomes better. Despite the best of market research and comp analysis, if offers are poor but the house is priced properly, it could indicate a sudden slump in the market. Six months may make a difference.
74
Powered by FlippingBook