If you are a seller, the goal is to sell. If you are a buyer, the goal is to buy. Being in escrow can be an emotional process. Sellers want top dollar and buyers want a deal. Regardless if you are a buyer or seller, both parties have to finish the transaction at the same time. Every transaction is different — you might have to give or take. However, here are few things that can ruin a deal...
Being Unrealistic
If you are a seller, you have to price your home accordingly. It’s that simple. Overpricing your home puts you at a massive disadvantage because it can lead to fewer showings, no offers, and it could help your competitor.
If you are a buyer, you have to put your best foot forward. Sure, low-balling a property might be a strategy. However, there are not many properties that fit that category.
Despite being in a pandemic, some buyers think they are deals. I have been on many competitive transactions this year. If you are looking to buy, do not drag your feet. Mortgage rates are low and you should take advantage of that.
Not Seeing The Big Picture
The details matter. However, it is important to focus your attention on the important issues. During the buying process, the purchase contract allows the buyer to inspect the property. It Is common for the home inspector to find defects. Depending on how severe things are, the buyer can ask for a repair, closing credit, and or a price reduction.
If you are the seller, you have to determine if the concession request is justifiable. This is easier said than done since some buyers can include the smallest of things. If you ask an experience Realtor, he/she might say it is common practice to ask for concession.
Is not getting outlet repaired really going to hurt you in the long run? Don't let your ego get in the way. Take a step back so you can see the big picture.
-Roda