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Personal Finances / Buying or Selling a Home


Subject:  Re: House for sale - offer expected Date:  5/13/2013  9:06 AM
Author:  inparadise Number:  125258 of 128883

Any thoughts on how low of an offer I should consider taking?

It is impossible for us to give you valid advice given that we don't have the comps and know very little about the property/area. Remember, you can always counter if it comes in too low. Your agent should also contact the other agents to let them know an offer has come in and if their client is interested they need to submit their offer.

It is tempting as a seller to say that the property just went on the market, higher offers will come in. Truth is that the first offer is often your best offer. A buyer typically will pay a premium for a property that has just gone on the market. Guard against thinking your house is a castle, vs the commodity it is. I can't tell you how many properties we have put a bid in on, which was rejected as too low given how recently the property was put on the market, just to have the place eventually sell for less than our offer. Well, actually I could, since I do track the eventual sales price of properties we have put an offer for, but I'll give you that generality rather than take the time to look up the specifics.

Try to stay in analysis mode rather than get emotional. Distance yourself emotionally from the sale and you will make wise choices.

Best of luck,

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