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Selling Your Home What Can Go Wrong With Pricing and Loans

So, youre selling your home (house, townhouse, condo, apartment, land, lot, farm, ranch, etc.), what can go wrong? The sad fact is that a lot of things can go wrong. However, dont despair, there are almost as many solutions as problems. In this article, we look at problems related to pricing and a buyers inability to get a loan.

Price Negotiation

A problem that shows up all too frequently during contract negotiations is that the seller has left no room to negotiate the price. If the seller shows no flexibility, they are apt to chase buyers away. Mad.

The solution is simple and obvious, price your property a little higher than you feel you have to get. It needs to be a reasonable market price for your home, but you can start at the top of the market. Then, if your buyer wants to negotiate price, you have built in wiggle room.

Price isnt the only thing that matters to buyers. Settlement and move in times are important, too. This is especially true if the move involves a new employment situation, a new school district, etc. If you can be flexible on those points, that can tip the choice to your property over a competing home.

Another sticky wicket during contract negotiations is encountered when buyers ask sellers to pay all, or some, of the buyers closing costs. Often, sellers knee jerk reaction is, Why should I pay his closing costs? Mine have never been paid by the seller.

Whoa! Dont worry about what the buyer is getting out of it. Look at what youre getting. Is your bottom line what you want it to be? Close to it? Maybe you should consider paying all, or most, of what the buyer requested.

No matter what the proposal is during contract negotiations, dont freeze into a negative position. Think big picture. Think bottom line. Your bottom line.

The Buyer Cant Perform

Everything was going along swimingly and then you get a call. The buyer cant qualify for a loan to buy your home.

Check to be sure the buyer has approached a lender who will make loans to people with less than perfect credit. If that doesnt work, write it off as a mistake. The next time someone wants to write a contract offer, make sure they have a letter from the lender saying theyre qualified to buy your house.

The key to selling your home is to stay calm. There will be hiccups and bumps, but dont let them overwhelm you. Typically, the buyer really wants the property. Work with them and a solution can usually be found.

About the author:
Raynor James is with providing online listing services for homebuyers and sellers. For a limited time, sellers can list their homes for free for one month.

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