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Selling Your Home - What Can Go Wrong With Pricing And Loans By Raynor James, Fri Dec 9th So, you're selling your home (house, townhouse, condo,apartment, land, lot, farm, ranch, etc.), what can go wrong? Thesad fact is that a lot of things can go wrong. However, don'tdespair, there are almost as many solutions as problems. In thisarticle, we look at problems related to pricing and a buyer'sinability to get a loan. Price Negotiation A problem that shows up all too frequently during contractnegotiations is that the seller has left no room to negotiatethe price. If the seller shows no flexibility, they are apt tochase buyers away. Mad. (Article continued below)
The solution is simple and obvious,
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price your property a littlehigher than you feel you have to get. It needs to be areasonable market price for your home, but you can start at thetop of the market. Then, if your buyer wants to negotiate price,you have built in wiggle room.
Price isn't the only thing that matters to buyers. Settlementand move in times are important, too. This is especially true ifthe move involves a new employment situation, a new schooldistrict, etc. If you can be flexible on those points, that cantip the choice to your property over a competing home.
Another sticky wicket during contract negotiations isencountered when buyers ask sellers to pay all, or some, of thebuyers' closing costs. Often, sellers' knee jerk reaction is,"Why should I pay his closing costs? Mine have never been paidby the seller."
Whoa! Don't worry about what the buyer is getting out of it.Look at what you're getting. Is your bottom line what you wantit to be? Close to it? Maybe you should consider paying all, ormost, of what the buyer requested.
No matter what the proposal is during contract negotiations,don't freeze into a negative position. Think big picture. Thinkbottom line. Your bottom line.
The Buyer Can't Perform
Everything was going along swimingly and then you get a call.The buyer can't qualify for a loan to buy your home.
Check to be sure the buyer has approached a lender who will makeloans to people with less than perfect credit. If that doesn'twork, write it off as a mistake. The next time someone wants towrite a contract offer, make sure they have a letter from thelender saying they're qualified to buy your house.
The key to selling your home is to stay calm. There will behiccups and bumps, but don't let them overwhelm you. Typically,the buyer really wants the property. Work with them and asolution can usually be found.
About the author:Raynor James is with http://www.fsboamerica.org - providing FSBOhomes for sale by owner. Visit our "sell my home" page athttp://www.fsboamerica.org/seller.cfm to list and sell your homefor free for one month. Visithttp://www.fsboamerica.org/buyer.cfm to see homes for sale byowner.
