we have our home up for sale and have had quiet a few lookers. we spoke with someone who is very interested in the home and wants to get the ball rolling. they asked us to $5,000 off the asking price because they said they wanted the carpet replaced. the carpet is not brand new but in good condition. we steam clean it about twice a month. none of the other lookers had any complaints about it either. were thinking that they're only saying this because its the only excuse they could come up with for financial negotiations. we want to sell the home asap but don't want to settle for anything less then the asking price. we had a realtor look at it and she said that were selling it at a fair deal. no one else has made any offers on the house and this worries us also. does anyone have any solutions to this problem? any advice is appreciated!
2006-11-08 14:50:48 · 8 answers · asked by portuguese_tease 2 in Business & Finance ➔ Renting & Real Estate
It is all about negotiation. Make a counter offer. Offer to have the carpet professionally cleaned. Or offer a lesser discount.
2006-11-08 15:00:41 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Well, I would agree with the previous answers in regards to the asking price for a home being just that, an asking price. In most circumstances buyers are used to negotiating for the home that they want and will feel that it is unreasonable to only accept what it is listed for, even if the home is worth it.
As far as the $5,000 goes, that can mean totally different things. If we are talking a home worth $100,000 then $5,000 is 5%, and if we are talking a $500,000 home then $5,000 is only 1% of the asking price, this could greatly affect how I would advise the owners.
Local MLS statistics show that within the month of November homes have sold at an average of 96.5% of the listing price. This includes any closing costs that would be included, so in actuality that number is probably closer to 94 or 95% of the asking price.
I also don't know if you are selling your home yourself or if you have a realtor...that makes a difference as well. If you have secured your own buyer without an agent, you are saving the commission and with all the sales quoted in the above statistics, those sellers are paying commission as well, so deduct another 6% on average from that price, making the owner's total profit around 11 or 12% below what was asked.
One thing that I would definitely suggest is that if this party is interested, you have them put an offer in writing, because until you have that, you actually have nothing to worry about, because they have not actually made an offer on the home. Once you have that, look to see if they are aksing for any closing costs or anything else that my lower your profit. (home warranty for example)
A couple of suggestions for how to counter offer would be to call a few carpet places with the square footage of the home and determine an approximate cost....unless you have a very large home, it will probably not cost $5000 to carpet it with a basic carpet. Offer to sell for your asking price minus the estimate, or just meet them in the middle and offer to go down by $2500....that's probably what they are looking for anyway as, again, most buyers are looking to negotiate.
Good luck!
2006-11-08 16:21:13 · answer #2 · answered by julsells 2 · 2⤊ 0⤋
Explore your options. Determine what is important. (i.e. money, time, whatever)
There are a couple things to consider. The people offering for the home may be negotiating or may have allergies and will require the carpet removed for health reasons.
You could counter, raising the price and replacing the carpet... or you could give them the $5K off, or you could decline the offer and wait for another.
The bottom line is, how eager are you to get out of the house and how important is the $5,000? In our area, housing sales are flat, so one offer may be all you get for a few months. Your area may have a hotter market.
If financially speaking, you can't sell for the $5,000 less, just tell them that. If you could, but don't want to, counter for what you will do. If you can take less, but don't want less than a full offer, simply decline. GOOD LUCK with your decision.
2006-11-08 15:03:02 · answer #3 · answered by Dawn J 4 · 2⤊ 0⤋
You have an emotional attachment to your home (and carpet). They don't. You can't take this stuff personally.
Real estate transactions are all about negotiating. Your idea of an "excuse" may be something that genuinely bothers them. You have the absolute right to refuse their offer or make a counter offer. Just don't refuse for the wrong reasons.
Sometimes people have to settle for less than the asking price and sometimes they don't. It depends on the market in your area. If you truly have reason to believe you can get your asking price within the time frame you have to sell, then remain firm. If you need to sell asap rather than just want to sell asap, work with the buyer and tell them you will go down $2,500.
2006-11-09 02:02:22 · answer #4 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
Big mistake to list it for the price you want to get.
It is human nature, and ASSUMED that the list price is the STARTING price of negotiations.....IE, you should have priced it 5-10 percent ABOVE what you wanted to get....your realtor should have told you that......
The carpet complaint is, as you suspect, just an excuse to try to get you to cut the price. If there are no other offer, and you want to get rid of it, and move on, why not counter offer at 1500 or 1000 off the asking price.
5k off your target price, doesnt seem that out of the ball park to me, if you want to sell and move on.
2006-11-08 14:58:29 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Hear is the truth if you can sell now for just 5k less count that as a blessing and sell, get greedy you will lose a lot more.
If you have not herd there is a bubble that is breaking, and as you said your self there are no other buyers. just ask is that the only thing and if you agree will you start the loan today. This is to stop any further negotiations.
Best of luck.
http://www.breakingbubble.com/index.htm
2006-11-08 16:21:46 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Do you want to sell the house or not? If you wanted your asking price you should have asked 5,000 more. I would never buy a house for asking price. I would walk away especially in this market. Take the money and run.
2006-11-08 14:56:18 · answer #7 · answered by onemelbgirl 3 · 1⤊ 0⤋
these days your credit ought to be 800 and you will possibly have a annoying time getting a loan. What replaced into meant for use to assist human beings has been used to shore up the banks' own stability sheets. We in no way would desire to have completed the bailout in any respect. i seem at it this way. it somewhat is intense time we took on some own duty in this usa. yet, in case you needed a house in 2003 or 2004, you had to pay dearly for it in some aspects of the country. the value hikes have been fueled via lender greed and scarcity of any variety of exact economic underwriting complete via the lenders. What did components proprietors' do incorrect? they did no longer do their homework (or the maths). yet, from time to time, human beings did no longer have a call out of user-friendly % of a place to stay and the marketplace forces drove this. The lenders threw out their rules and authorized human beings for products they won't in any respect arise with the money for down the line. we would desire to consistently have in no way, ever allowed the offering of activity basically mortgages in this usa. that could have stabilized the actual components fees and saved the two lenders and debtors truthful. i might particular like my $2,333 returned. That what the bailout fees each and everyone human beings, no longer counting AIG and the vehicle agencies.
2016-10-21 12:33:27 · answer #8 · answered by ? 4 · 0⤊ 0⤋
My advice would be: be truthful, yet helpful. Tell your buyers that you do not feel the carpet requires replacement, but you would be happy to have it professionaly cleaned after you close.
2006-11-08 14:54:29 · answer #9 · answered by Anonymous · 2⤊ 0⤋