there must be bigger, juicier fish to be had. So you throw the not- so-small-after-all fish back in. First offers typically come from the most motivated, qualified buyers who have been searching the market carefully. They know value when they see it and act quickly. Dismissing these offers can be a serious flaw.
Becoming Friends with the Buyer
It is appropriate, even important, to be friendly, but do not 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 next home. You are no doubt excited about moving. 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 quell their interest. Maintaining professional distance is essential to preserving your leverage throughout the process.
Underestimating Closing Costs
Many sellers do not appropriately calculate all the costs associated with the sale. Below is a list of expenses to factor into your bottom line: • Real estate compensation if you use an agency to sell. • Advertising costs, signs, other fees if you plan to sell by owner. • Attorney, closing agent and other professional fees.
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