While the wind can blow my attention into many different directions, today we are going to offer some advice for sellers hoping to seize some control in a market that is largely out of their control…
First and foremost we will state Captain Obvious: This is a tough market. Has been. Is currently. Will continue to be. Remember all of the good times of easy money, multiple offers and sales over list price? It seems like years ago, but they are so far gone that the mere mention of “But in 2006 my house was worth X” is simply ludicrous. Statistic machines from every corner of the globe point towards a nationwide decline of approximately 30% in value since those highs - more or less in local markets.
Negotiations with buyers are brutal. They want it ALL for Nothing. As someone who places action above words, my primary concern is WHAT can we do about it? We can’t change what happened. Placing blame doesn’t help sell homes. As sellers there are few things we have control of within this market, but the few we can control can offer long term savings after initial minimal costs.
One way to take control of your sale is by completing the termite and home inspection reports ahead of getting an offer (or even listing the property for sale on MLS). As an informed seller, this places you in better control during sales price negotations and removes many unknowns from the escrow process. Rather than re-negotiate any “newfound repairs” as a result of the buyers inspections (which typically lead to monetary requests/concessions) you can negotiate from the onset in a position that accurately acknowledges the condition of the property and make it clear that any further findings will be the sole responsibility of the buyer.
There will be costs to have these inspections performed. However, in this market knowledge is king. Generally, buyers are market experts – extremely well prepared and informed of the GENERAL market. But, not necessarily YOUR specific property. The small cost of becoming an expert on your property ahead of time provides a measure of knowledge and power that is otherwise lost to the uncertainties of the escrow process…and when that happens in this market, the hand continues to tilt to the buyers.
By holding key property information we are able to decode the unexpected. And when selling a home, the “unexpected” is not only unwanted and stressful, but can also have financial implications as well.
If you are considering selling your home, contact us to find out how we will put you in the best position to earn the highest sale price for your particular property.
Brian Butler: (831) 241-4259 Realtor
Kris Butler: (831) 915-8330 – Broker / Realtor