If You Are Hoping To Negotiate On Price, An Offer On Day One Might Not Make Sense


If You Are Hoping To Negotiate On Price, An Offer On Day One Might Not Make Sense
By Scott Rogers • September 2, 2022
Ooooh... an exciting new listing just hit the market! It's in the neighborhood where you hope to live, has just the right amount of space, has the garage you've been hoping for, and... oh wait... ugh... the price is a bit higher than you had hoped. This imaginary (but very exciting) new listing is priced at $425,000. You had been hoping to spend no more than $400,000. So, what to do... If you go see the house, and love it even more in person, do you make an offer of $400K on Day 1? Probably not. A home seller is not likely to accept your offer of $400K on Day 1. They will likely wait for other showing to happen, hoping to have another offer to consider... AND... they will let all other buyers who view the home know that they have an offer... and they won't need to clarify that it's only an offer of $400K. So... if you are hoping to negotiate on price, it probably does not make sense to make an offer on that first day... unless you were really willing to pay the full list price if needed. If you wait a few days, or a week, to make an offer... someone else might make an offer, which could then give you the option to make an offer as well... or if nobody else makes an offer, perhaps you will then be able to negotiate on price. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
Comments (0) or Subscribe