The real estate market is a tricky place for any buyer in this day and age. It seems like it is impossible to tell when it is the right time to buy or sell a home. Luckily with helpful tips from realtor, Patricia Romano (RE/MAX), making an investment in a home doesn’t have to be such a daunting task.
Have you ever heard the expression, “A bird in the hand is worth two in the bush?” Well, if you are thinking of selling your home, realtor Patricia Romano recommends remembering this phrase. This is specifically relevant when you are talking about home-purchase offers in a buyer’s market. Even when we are in a balanced market, the first offer tends to be the best one the seller will get.
Here are a few reasons why this realtor advises considering your first offer seriously and handling it with kid gloves.
- If you are lucky enough to get an early offer, it doesn’t always mean there are other options waiting on the horizon. This may simply be because your home meets the needs of that particular buyer.
- In many cases, homes get the most interest from buyers when they go off the market. The longer your home stays on the market the more desperate buyers may think you are, thereby prompting lower offers.
- While it isn’t ideal, if the first offer is lower than your list price take a moment to consider it before you turn it down. Take another look at the terms of the price and contract terms, because the longer your home is on the market the more you will end up paying in mortgage, taxes, insurance, upkeep and sheer inconvenience.
- Don’t be afraid to negotiate if the offer price and contract terms are less than ideal. Make a counteroffer, but be flexible with your terms. Sometimes buyers make an offer lower than what they are willing to pay.
It is important to understand that an offer indicates a serious interest in your home, and don’t underestimate it or take it for granted. Realtor Patricia Romano (RE/MAX) is happy to work with you to evaluate offers and make sure your home’s listing price fits into the local market. Her expertise will be utilized to enhance your home and negotiate with potential buyers.