What does the old "bird-in-the-hand" philosophy
have to do with selling your home? Plenty - if you are serious
about selling and are a realist at heart.
One of the biggest advantages to owning real
estate is the ability to sell at full value to an ever present
supply of potential buyers. This means that, given a fair amount
of time, a "ready, willing and able" buyer can always be located
to purchase your home.
The "full value" which that buyer will pay for
your home is a subjective figure though, based on the individual's
own value system when applied to your property. The "full value"
price offered by a buyer may not match the "full value" figure
expected by the seller.
Sellers who price their home at "fair market
value" may find that qualified buyers immediately offer full price.
On the other hand, what should sellers do if an unqualified buyer
offers full price? What if a qualified buyer offers less than
full price?
Here is where the "bird-in-the-hand" concept
pays off. Wise sellers will analyze each offer to purchase as
though it were the only one they would ever receive, since there
may never be "two in the bush". If the offer is made by an unqualified
buyer, at an unreasonably low price, with an unacceptable settlement
date, rejection of the offer would be appropriate.
On the other hand, a low offer received from
an obviously qualified buyer with a settlement date that is a
perfect match to the sellers' moving plans may deserve close scrutiny.
Even though the offer may appear low, the buyer may not require
the seller to participate in the payment of closing costs, discount
points or other costs usually associated with a sale, resulting
in "net proceeds" close to an acceptable level.
The net effect could be an acceptable transaction
with the added benefit of a closing date that relieves anxiety
about an unsold home. When selling your home, ask your agent to
explain both the pros and cons of every offer received. The result
can be both an early and acceptable sale.
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