As we all know this market is not like it was 3 years ago, or for that matter 6 months ago. It hasn't been a buyers market for years, and at this point the banks are the determining factor in most cases. So the property should be listed ahead of the market.
When a buyer puts in an offer on a property, most sellers are thrilled and try to work with the prospective buyer. But should they if an offer is WAY low?
In my local area, there are many condos for sale and I have a few listed. One I have in particular is not a short sale or foreclosed property. Last week an offer came in on it, and I presented it to my client. We went over *everything* and he outright rejected the offer... I don't believe he was wrong in his decision... what do you think?
This home is not a short sale as I mentioned, but we took this in regard when pricing the property. The offer that was presented was $5,000 less than on a foreclosed property that just closed. Now on top of that the buyer was looking for $5,400 back in closing costs and wanted the seller to purchase a home warranty. We were looking at $26,000 less than asking on a property that is listed ahead of the market.
The buyers agent informed me that they don't have much wiggle room with their offer. Her clients are first time home buyers... I'm thinking to myself that her clients are looking in the wrong area. They can't afford this complex and need to look in an area where they can stay within their means. What do you think?
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Info about the author:
Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, which includes Cromwell, Rocky Hill, Berlin, Middletown, Wethersfield, Newington, as well as all other surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.
For real estate.. all you need to know, is VALERIEO
If you're thinking about buying a home in Cromwell CT area, there are plenty of great buys in today's market. There is no better time than now to take advantage of these homes while interest rates remain at an all time low. For more information on Cromwell CT real estate's homes and/or condos please visit Johnson Real Estate to access the newest listings.
Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.883.8889 cell - ValerieOhomes4u@gmail.com
Copyright © 2010 - By Valerie Osterhoudt, ABR - All rights reserved...... *** Is it wrong for a seller to reject a LOWBALL offer?***
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Valerie Osterhoudt, ABR
(Accredited Buyers Representative)
Is a Full Time Realtor® with with Johnson Real Estate, in Cromwell, CT who specializes in Homes and Condos For Sale in the Middlesex and Hartford Counties in CT.
Valerie Osterhoudt, ABR ~Johnson Real Estate, Inc.
cell: 860.883.8889
email: Valerie Osterhoudt, ABR
website: www.CTrealtorMLS.com
