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Selling Your Home - What Can Go Wrong With Pricing and Loans
So, you're selling your home (house, townhouse, condo, apartment, land, lot, farm, ranch, etc.), what can go wrong? The sad fact is that a lot of things can go wrong. However, don't despair, there are almost as many solutions as problems. In this article, we look at problems related to pricing and a buyer's inability to get a loan. Price Negotiation A problem that shows up all too frequently during contract negotiations is that the seller has left no room to negotiate the price. If the seller shows no flexibility, they are apt to chase buyers away. Mad. The solution is simple and obvious, price your property a little higher than you feel you have to get. It needs to be a reasonable market price for your home, but you can start at the top of the market. Then, if your buyer wants to negotiate price, you have built in wiggle room. Price isn't the only thing that matters to buyers. Settlement and move in times are important, too. This is especially true if the move involves a new employment situation, a new school district, etc. If you can be flexible on those points, that can tip the choice to your property over a competing home. Another sticky wicket during contract negotiations is encountered when buyers ask sellers to pay all, or some, of the buyers' closing costs. Often, sellers' knee jerk reaction is, "Why should I pay his closing costs? Mine have never been paid by the seller." Whoa! Don't worry about what the buyer is getting out of it. Look at what you're getting. Is your bottom line what you want it to be? Close to it? Maybe you should consider paying all, or most, of what the buyer requested. No matter what the proposal is during contract negotiations, don't freeze into a negative position. Think big picture. Think bottom line. Your bottom line. The Buyer Can't Perform Everything was going along swimingly and then you get a call. The buyer can't qualify for a loan to buy your home. Check to be sure the buyer has approached a lender who will make loans to people with less than perfect credit. If that doesn't work, write it off as a mistake. The next time someone wants to write a contract offer, make sure they have a letter from the lender saying they're qualified to buy your house. The key to selling your home is to stay calm. There will be hiccups and bumps, but don't let them overwhelm you. Typically, the buyer really wants the property. Work with them and a solution can usually be found. Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
MORE RESOURCES: Why This Real-Estate Investor Favors Commercial Vs. Residential Business Insider Wall Street's Most Accurate Analysts Say Hold These 3 Real Estate Stocks With Over 4% Dividend Yields Markets Insider Top real-estate CEO sees decades of housing pain ahead: 'What the Fed did will have a 30-year tail on it' Yahoo Finance Landmark Settlement Breaks Up the Real Estate Cartel The American Prospect Who are real estate lobbyists talking to in New York? City & State New York Public records: Coshocton County, Ohio, real estate transfers Coshocton Tribune Brockton-area real estate sales for Dec. 26 to Dec. 29, 2023. Enterprise News The End of the Super Broker Era in Commercial Real Estate Commercial Observer Real estate shake-up: Possible commission changes ahead 11Alive.com WXIA Real Estate Commissions Are About to Get Much Cheaper. Here's How Zillow, Redfin, and Opendoor Could Be Affected. The Motley Fool Local real estate agents abuzz over proposed commission changes - LVB Lehigh Valley Business On Real Estate: The confusing and contradictory state of post-pandemic retail Crain's New York Business Miami Beach real estate investor under investigation for firing shotgun from waterfront home WSVN 7News | Miami News, Weather, Sports | Fort Lauderdale REAL ESTATE | New signage for Auto Safety Center on S. Main Street, West Bend, Wi washingtoncountyinsider.com A luxury agent on how the NAR settlement will change his business The Washington Post WORLD PROPERTY VENTURES: The 'DARPA of Real Estate' Announces New Digital Initiatives The World Property Journal Knoxville School Board to Hold Several Public Hearings Regarding Real Estate Parcels KNIA KRLS Radio Cities Face Cutbacks as Commercial Real Estate Prices Tumble The New York Times The Realtors' Big Defeat The New York Times Realtor group will pay $418M to settle commission lawsuits The Associated Press How new real estate rules may impact home prices in Connecticut Eyewitness News 3 Settlement will affect Iowa homebuyers KCCI Des Moines Israeli real estate event: Legal complaints escalate NorthJersey.com China's Real-Estate Market Just Set a Record—but Not a Good One The Wall Street Journal Is the Era of the Celebrity Real Estate Agent Over? Industry Reacts to Settlement That Could Slash Commissions Hollywood Reporter What the death of the 6% real estate commission means in D-FW The Dallas Morning News What Seattle-area homebuyers should expect after national settlement The Seattle Times Hocking County real estate transfers | News | logandaily.com Logan Daily News National Association of Realtors Agrees to Slash Commissions to Settle Lawsuits - The New York Times Realtors Reckon With a Seismic Shift to How They Get Paid The Wall Street Journal Realtors settlement brings confusion, relief to Southern California’s real estate industry OCRegister Realtors Reach Settlement That Will Change How Americans Buy and Sell Homes The Wall Street Journal California, United States Luxury Real Estate Home California Listings Making Sense of New York's Confusing Luxury Home Market The Wall Street Journal A commission settlement may affect housing market 9News.com KUSA End of 6% real estate commissions could mean lower home prices The Atlanta Journal Constitution National Association of Realtors to cut commissions to settle lawsuits. Here's the financial impact. CBS News A Look Into the Future of Home Buyers' Agent Commissions The Wall Street Journal Once America's Hottest Housing Market, Austin Is Running in Reverse The Wall Street Journal Chicago Voters Face Choice on Tax to Fund Homeless Programs The New York Times Yoon to scrap 'reckless' plan to raise declared real estate value The Korea JoongAng Daily Wilmington realtor weighs in on proposed changes to real estate industry following major settlement WECT Blackstone, World's Top Alternative Asset Manager, Eyes Record Highs Amid Real Estate Bottom Investor's Business Daily Bridgemarq Real Estate Services (TSE:BRE) Share Price Passes Above Two Hundred Day Moving Average of $12.93 Defense World 4 Ways a Settlement Could Change the Housing Industry The New York Times Colony Ridge violated deceptive trade practices, Texas says The Texas Tribune Real Estate Stocks Drop As NAR Agrees to $418 Million Settlement Markets Insider Revolutionizing Real Estate Lead Generation: Stephen Zochowski's Groundbreaking New Book 24-7 Press Release What will the Realtors settlement mean for Arizona homebuyers? The Arizona Republic Real Estate Credit Investments (LON:RECI) Shares Pass Below 200 Day Moving Average of $126.75 Defense World |
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