For the past six months I am have been having trouble getting offers accepted on properties for sale. Most of them have been have foreclosures. I noticed prior to writing every offer, the listing agents tells me they have multiple offers.  Guest what the average offers?  It is 5 offers per property.

Here are the reasons why:

1.     Price right at market value- due to the declining market you may want your asking price based on the last 90 days closed sale and listen to your agent’s recommendation. Pricing is always based market value not what the seller wants. Overpricing your property will hurt the marketability. Will you pay more for day old bread? Remember some of the improvements you made were for your enjoyment. However, a prospective buyer may have a different taste.

2.     Make your property livable- move in condition or fewer repairs will always attract more buyers and more offers for you to choose from which may lead to more than you were asking. It is advisable to put some of your personal items in boxes and move them to the garage. For vacant property, you may want to remove debris (old mail, ads, newspaper etc.) weekly and leave the utilities on. It does sent a signal to prospective buyers that you are serious about selling.

3.     Accessibility- make your property available for preview or showing by installing your agent installing a lockbox. I will strongly recommend supra lockbox if you are still living in the property and removing all valuable items from view.

There are many buyers qualified, ready, and able to purchase right now, especially first time home buyers but they do not have the extra fund to do any repair. Therefore they may pay little more than your asking price if your property is in move in condition or fewer repairs.

Please feel to contact me with any question you may have:
seller2buyer@hotmail.com with Homegain Blog in the subject line.