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5 hours ago You owe it to yourself – and your family – to find out everything you can about a home, especially since it will most likely be the largest investment you’ll ever make. To help you get started, we’ve created a list of 66 questions to ask …
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$5,0004 hours ago But be prepared to split the difference with the seller. Caution: Even in a balanced market, you can have someone swoop in with a better offer, so you don’t want to drag negotiations on forever. A difference of $5,000 on a $250,000 probably …
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$9.953 hours ago 5. Avoid obscure and century pricing. Whether at the grocery store or in a home sale, there’s a proven psychology that items priced just under a “century” number (meaning a nice, round number) are more attractive to buyers — think $9.95 instead of …
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2 hours ago Whether to your offer should be higher or lower than asking price depends on a few factors. For starters, if you’re in a seller’s market — in which demand is high and supply is low — offering less than the asking price is a good way to get your offer denied. In fact, buyers often offer more than the asking price to close the deal.
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$1004 hours ago Be Reasonable When Negotiating. You really never know how low someone is willing to go, but if the seller is asking $100 for an item, there’s a safe chance that they aren’t willing to drop it to $10. An ask that low will likely offend them. A good rule of thumb I found somewhere is to start at 50% off for in-person shopping like at a yard sale.
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$621,318.6 hours ago Average price: $621,318. Highest price: $690,000. If your house appears to be a bit better than average and the market is heating up, perhaps you price around $650,000. Or maybe the photos clearly show that the comps are more updated than your inherited home that hasn’t been refreshed in decades.
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$300,000,4 hours ago When it’s reasonable to offer 11% to 19% below the asking price. If you’re asking for 11% to 19% off a home with a listing price of $300,000, you could save between $33,000 and $57,000. This kind of offer is acceptable in situations when some updates need to be made — but nothing too serious. Maybe the kitchen looks like it was from the
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6 hours ago The authors surveyed more than 200,000 homes listed in Delaware, New Jersey, and Pennsylvania from 2005 to 2009 and found that homes priced 10% to 20% higher than similar homes saw a bump.. It’s
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2 hours ago 2. Get to the seller’s bottom dollar before you get to your buyer’s top dollar – The goal in any of my negotiations is to get the seller to give me their bottom dollar price and let my buyer clients decide whether they are willing to accept it. Therefore, I have no problem submitting a low offer and encouraging the listing agent to
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9 hours ago Rather than giving a price, sellers say something like, “There are many options, and I need to understand your needs before I can give you an accurate quote.”. Fourth, you could offer a range based on average deal size or high and low price points. This response is meant to help the prospect without overpricing them.
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1 hours ago Use that as your guide to homebuying. “The comparables should be your go-to on a first offer,” says Shane Lee on behalf of Realtyhop. “If, for instance, a …
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1 hours ago Topic #1 to avoid: Your price floor. You'll want to think twice before broaching particular topics or sharing some information with your real estate agent. Among the things home sellers should not say, the lowest price you are willing to take is probably a no-no. "The primary thing I tell people not to discuss is the minimum price they will
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1 hours ago Experts recommend offering at least 1% to 3% above the asking price when you’re in a bidding war. In fact, in early 2022, the average home sold for just 1.3% above its list price. Of course, you
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6 hours ago Use this approach when you want to be tough but are afraid that appearing too inflexible will drive away buyers. 2. Reject the Offer. If you’re gutsy enough, you can try a negotiation tactic
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$325,000.9 hours ago After three months without action, they finally receive a full-price offer for $325,000. However, in those three months since the house went on the market, the sellers believe that the real estate market in their area has heated up considerably. Nearby homes seem to be selling for much more than they're worth.
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$600,000,5 hours ago The house is on the market for $600,000, but your research, backed up by your broker’s opinion, tells you it’s overpriced. By your estimate, a fair price would be $500,000, but when you offer that amount, the seller says you are “not even close” and doesn’t counter.
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2 hours ago Be prepared with these 15 questions to ask when buying a house. How Does the List Price Compare to My Budget? Before searching for a home, review your budget to determine how much you can afford to pay each month. Ask the seller’s agent if there are any known issues or hazards in the home, and whether the home has undergone any
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In addition to being counterproductive, causing mistrust, and erecting a barrier between the buyer and seller, evading the price question is inefficient. You won’t learn if you’re dealing with a comparison shopper or a prospect who truly can’t afford your solution.
Use that as your guide to home buying. “The comparables should be your go-to on a first offer,” says Shane Lee on behalf of Realtyhop. “If, for instance, a similar property in the same neighborhood is quoted $10K less, then it makes sense for you to go $10K below the asking price.”
To help you get started, we’ve created a list of 66 questions to ask when buying a house, broken down into each stage of the homebuying process to help keep you informed. As you well know, buying a house is a significant investment. Before you start house hunting, think through your goals for homeownership.
If the seller seems emotionally tied to a certain price on his or her home, instead of asking the seller to lower their asking price, ask for certain concessions, such as repairs, that the owner contribute to the closing costs, or that they leave the washer and dryer, the riding lawn mower, etc.