In good and not so good markets we have to remind our sellers that the buyers coming through their homes are indifferent to what they as sellers need and want to get price wise for their home.
Here are just a few things buyers tell us they don’t care about:
• Buyers don’t care about the emotional and financial investment you have in the property: This includes what you spent fixing it up, how much you have borrowed against it and the many happy years you have spent there.
•They don’t care what you need out of it to cover your closing costs.
•They don’t care what your last appraisal says it’s worth
•They don’t care what you think the house across the street sold for
•They don’t care what your tax bill says it’s worth
•They don’t care what you have it insured for
• They don’t care how expensive the homes are in the community or neighborhood you are moving to
Here is what buyers do care about when deciding what to offer for your home:
•They care about the recorded selling prices for your nearest ‘comps.’ If they see a declining market, they are likely to offer a price lower than your most recent ‘comp.’
•They care about your home’s condition. If you’re place is squeaky clean, they’ll pay more. If it’s not, they’ll factor every inch of work, cosmetic and otherwise, into their offering price.
•They care about the kind of loan they can get. Buyers number crunch today, like never before. Affordability is key. Higher rates or a larger down payment will result in a lower purchase price.
•They care about where they see the economy going. As a group, buyers are naturally risk-averse. In a difficult economy, they are even more cautious and need to know they’re getting a good deal.
So, when you think about selling your home you need to consider the buyers position and perspective above. It will get you to the closing table and that the objective, Right?
Marc Daniels, Austin Haciendas LLC, Austin, Texas
