Parker & Klein March 2019 Newsletter
What Makes A Seller Leery?:
- Out of state & online lenders.Sellers prefer the security of a reputable bank or mortgage broker with a local presence.
1B. No Pre-approval letter. Signals the seller that you are not ready to purchase and may not get your lending. Always submit an approval letter or proof of funds with your offer.
2. Buyer demands in the initial offer. Requesting personal items or making demands for repairs can sway a seller to choose another less complicated offer.
3. Low good faith deposits. A higher deposit sends a signal that you are serious. 1-2% of offer price is standard so going above that will help.
4. Long contingency periods. Reduce the amount of time for the inspection period, appraisal period and lending approval. The seller are enticed by offers that get contingencies settled quickly.
5. Contingencies period. Any contingency that you are able to remove or shorten the time frame for release (inspection, survey, appraisal) will encourage the seller want to choose your offer-even if the offer price is a tad less than another offer. Be prudent and creative.
What Makes A Buyer Leery?:
- Over Pricing:Buyers don’t care what you paid, what you have put into the house or what you need to get out of the house on a sale. They choose a home based on its value relative to the other choices they have in the current buying market.
2. Lack of Photos & Details: You get one moment in time to come onto the market as a “New Listing”. If the images are not professional and the public comments are not compelling, it’s easier for the buyers to pass over your listing online and move on to the next home. Attention to details when marketing is super important.
3. Too Much Clutter: When a home is full of personal belongings the buyer cannot visualize themselves in the space. Too much furniture can make the space feel smaller. Living in a home and selling a home are two different things. Be open to removing furniture and clutter. The change is for a short amount of time and can pay off in a big way.
4. Your Home Needs Small Repairs: When a buyer sees repairs that have been left undone they suspect that more has been neglected. Take care of the small stuff: Sticking doors, loose knobs, stains from previous roof or plumbing leaks, broken appliances, clean gutters…they all add up
5. It’s Too Personal: Remove as many personal items as possible. Family photos, mementos etc. If your upgrades are highly personalized, try to minimize the impact. Choose unified, neutral paint colors, remove murals on walls, replace colorful carpeting etc. Stay neutral.
Let us coach you on how to position yourself to win when you are buying or selling. Each sale/purchase is different and requires a unique approach. Experience helps so let us guide you to success and an ACCEPT!