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Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/it-is-tempting-as-a-seller-to-say-that-the-30680948.aspx

Subject:  Re: House for sale - offer expected Date:  5/13/2013  9:21 AM
Author:  2gifts Number:  125260 of 127258


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.


I just wanted to add a bit to this. I think that sellers sometimes think that because they get an offer as soon as the property goes on the market, then it is a hot property and will generate many/more/better offers, and want to wait for that. But you don't know how long the buyer has been looking, and that can have a lot to do with it. When we bought our previous house, we had actually been looking to buy a house for about 9 months, so we had seen everything there was to see, and at that point, we were seeing new properties as soon as they came on the market. We bought our house the 2nd day it went on the market, and for the seller, that was a very fast process, but for us as the buyers, it had taken 9 months to get there, and we finally found something that suited our needs.

The OP seems to have some info on the expected value of the house based on comps, location, features, etc., and I would say that negotiating to get that price would be what I would be doing.
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