Thursday, October 22, 2009

What should your property offer be?

That just depends…on many factors…all which need to be considered.

1. How long has the property been on the market? Is it stale or a hot new property? The longer a property is on the market, the more motivated the seller will be.

2. Who is selling the property? Is it someone that is willing to wait for the target price, or is it a seller that needs to move? A job transfer, divorce or a bank owned property will work in favor of the buyer.

3. Location. Is the property in a prime location, in a desirable neighborhood or out in the woods off a dirt road? If the location is special, the price will be firmer, if the location is off the beaten path, there will be less demand for the property.

4. What is the competition? How good does it look? Is this a special property with a lot of interest in an area of few homes on the market? Or is it on “foreclosure row” with more homes just like it?

5. Last but not least, how is it priced? Is it overpriced, or a deal at full price? If there are multiple offers on the property, you have to give it your best shot with “highest and best” offer and keep your requests simple.

We are experts at sorting out the value and, providing you with all the information needed to make a good decision.