Failure to act can have significant consequences. I once had a seller who received a cash offer from the first buyer just two days after the property went on the market. Instead of accepting the offer, the seller decided to continue showing the property for a week before deciding. By the end of that week, the buyer had lost interest due to the delay and purchased another property. The original property remained on the market for weeks and eventually sold for much less. When inventory is limited and buyer demand is high, sellers generally have more leverage, and buyers are typically willing to offer at least the asking price when the home first hits the market. Receiving an early offer usually indicates strong interest in the property. If that first offer meets or exceeds the asking price, it might be wise for the seller to accept, especially if it aligns with their expectations and current market conditions. Another option is to counter the offer, which the prospective buyer can accept, reject, or counter.
Becoming Friends with the Buyer
It’s appropriate, even important, to be friendly, but don’t let the personal nature of someone being in your home allow you to get into too many long discussions with the buyers, because personality conflicts often cloud judgments. Watch what is said in discussing items related to the house and neighborhood. Remember, this could be their new home. You’re no doubt excited about moving. But buyers will start second guessing. A casual statement about the house “really being too small for a growing family,” or “the schools are going through some changes” might be enough innocent chatter to squash their interest.
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