How Seller Motivation Affects Your Offer Pric
Sellers’ motivation rarely has a significant impact on the price of a home, but it’s still possible to save a few thousand dollars. For example, a seller may have purchased a new home or is relocating to a different area, and needs to sell their current home quickly to avoid paying two mortgages simultaneously. In such cases, sellers may accept a lower offer to avoid financial strain. Family crises may also motivate a seller to make a quick sale.
However, advertisements that mention phrases such as “divorce,” “motivated seller,” or “relocation” may not always indicate a truly motivated seller. Such ads may be designed to generate leads rather than to actually sell the home. To determine if a seller is genuinely motivated, it is important to have access to information that has been made available to Realtors through the Multiple Listing Service, office and association marketing sessions, or flyers sent to other real estate offices.
The Final Decision on Your Offer Price
Comparable sales information helps you to determine a base price range for a particular home. Adding in the various factors like property condition, improvements, market conditions, and seller motivation help determine whether a “fair” price would be at the upper limit of that range or the lower limit. Perhaps you will feel a fair price is outside of that price range.
The “fair” price should be approximately what you are willing to agree on at the end of negotiations with the seller. The price you put in your offer to begin negotiations is totally up to you and depends on your negotiating style. Most buyers start off somewhat lower than the price they eventually want to pay.
Although your agent may provide advice and guidance, you are the one who makes the decision. The price you put in the offer is totally up to you.
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