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Curb Appeal – First Impressions Count When Selling Your Home
People selling their homes via real estate brokers get lots of coaching. People selling their own homes as FSBOs need the same. One of the most important topics on which FSBOs can benefit from coaching is “curb appeal.” How does your home look when...
Finding Your Dream Home
Finding your dream home starts with you. That’s a statement that you will have to remember throughout your search for your dream home. The reason is because throughout your journey of finding your dream home, you will find yourself being derailed...
How Come No One Told Us About This When We Were Buying A Home?
Development, it’s bound to happen.
Simply because there is a large open field, or the property you’re looking at borders woods, doesn’t mean it will or can stay that way in the future.
I could rattle off instance after instance where home...
How To Make $100,000 And How To Lose A $50,000 From The Same Property
At our new web site, www.GetPreconstructionDeals.com, I always get one specific question sent in after we announce a new preconstruction project: “So Chris, is this preconstruction project a good deal?” . The answer that is expected back by the...
The Single Biggest Mistake Real Estate Investors Make
Before you even think about becoming the next real estate tycoon, you’ve got to be disciplined to learn the basics. What you’re about to read may come as a surprise to you, but there is a single mistake among real estate investors, especially new...
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Selling Your Home On Your Own – Examples Of Problems And Solution
What can go wrong? About a gazillion things, but this is true if you’re working with a broker, too. A broker is probably more experienced than you, and may well have confronted and solved your problem on a previous home sale. If you can stay calm and think under stressful conditions, you can be your own problem solver without the need for a broker. Plus, there is no guarantee the broker will get it right.
A longer list of possible problems from real life are for a later article. I will include a couple here just to help you size up your willingness to cope on your own.
Problem One
You have a contract with a buyer, but the buyer gets cold feet.
Solution
Be calm, matter of fact, and pleasant. Encourage your buyer to open up and tell you what’s in the way. “I don’t want you to buy our home if it’s not right for you, but you seemed to really like the house (condo/townhouse/whatever), and now you’re not sure you should go forward. What’s changed? What’s troubling you?”
If they level with you, you have a shot at helping them overcome their objections and solve their issues. You may even find they’ve misunderstood something. If so, correct information may be all that’s needed.
However, if this approach doesn’t work, and the buyer no longer wants to buy, let them go and move on. As long as the buyer wants to buy and the seller wants to sell, most problems can be sorted through. If one of them changes his mind, it’s over. (You can probably sue for “specific performance” under the contract, but do you really want your property off the market while you deal with that?)
Problem Two
Your buyer has made an inspection by a home inspection firm a contingency of the contract. The home inspector comes up with a laundry
list of items to be repaired or replaced. Your buyer requests that they all be done prior to settlement.
Solution
Don’t let your ego get in the way. It’s not personal. It’s real estate, and big bucks are involved. Take a deep breath. Go over the list. How much money is really needed to make the repairs? Can you do any of it yourself? Call a plumber, carpenter, roofer, electrician, or whatever trades you need and get a ballpark idea. If the result looks reasonable, get closer estimates and agree to have the work done.
If it’s too expensive, explain to the buyer that the price of the home takes into account the condition. If the repairs are too expensive, can you and the buyer agree to “split the difference?” That is, can you do some items on the list and not do others because (you will explain to your buyer) the home was priced accordingly, but you are willing to compromise if he is.
If the repairs are too time consuming (the trades can’t take care of it before scheduled settlement), you are going to have to give it some thought. Can you agree to provide a sum of money to the buyer at settlement with which he can have the repairs made?
The key to coming up with solutions to the particular problem is to stay calm and thoughtful. The buyer is not your enemy. With any luck you can work out a win/win solution.
About the Author: Raynor James is with http://www.fsboamerica.org - providing online listing services for homebuyers and sellers. For a limited time, sellers can list their homes for free for one month.
Source: www.isnare.com
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