Why Salem OR Home Sellers Need To Take First Offer Seriously

Posted By David Whitton @ Apr 12th 2011 10:37am In: Selling Salem Oregon Real Estate

Many Salem OR home sellers look at the first offer on their home as just that, the First Offer with many more to come. You know what they say, ‘A bird in the hand is worth two in the bush.’ And in the current Buyers Market, offers are few and far between. Salem OR home sellers will want to consider the first offer very seriously. Here are reasons why: 

  • houseAn early offer (if you're lucky!) doesn't necessarily mean buyers are lining up to follow suit. It could just mean that your home meets the needs or preferences of that one particular buyer who made the offer.
  • Your home will get the most interest from buyers just after it goes on the market. The longer it stays on the market, the more "desperate" buyers will think you are, prompting lower and lower offers.
  • Even if the first offer is thousands lower than your list price, consider carefully whether it might be enough -- in terms of price and contract terms -- before rejecting it out of hand. After all, the longer your home is on the market, the more it costs you in mortgage payments, taxes, insurance, upkeep and sheer inconvenience.
  • If the offered price and contract terms are less than ideal, start negotiations by making a counteroffer, being as flexible with the terms as possible. It isn't uncommon for buyers to offer a price below what they are truly willing to pay, sometimes much below, just to see if they can buy under market.

An offer indicates serious interest in your home -- don't underestimate that but don't take it for granted, either.

Thinking of selling your Salem OR home? We'll be happy to work with you to fine-tune your home's listing price so it fits our local market. We can also advise you on what would make your home more saleable at low cost to you. Most importantly, we can put our expertise to work for you when it comes time to negotiate with potential buyers.
 



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David & Dewey Whitton
The Salem Real Estate Group
6444 Fairway Avenue SE
Salem, Oregon 93706

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