Oh my, “it” just came on the market! The one you’ve been waiting a year for. And what a sweet sweet deal it is! It probably needs work, because it’s 10K below everything else that has sold in the same area within the last year. You look at the pictures – which don’t indicate a fixer-upper, but a house that has been lovingly maintained with more updates than you expected. Sounds too good to be true! Your agent tells you to move fast, get in to look, then make sure you have time to go right to the office to write up an offer if you like what you see.
But what to offer? At this point, having waited a year for this house, having watched the others go to settlement for 10K more than this – those that you didn’t see fast enough, took too long to think about or offered less than another buyer…. you are inclined, anxious even, to give them their asking price.
LISTEN TO YOUR AGENT!! If you don’t offer at least $5,050 over the asking price, someone else will get this one, too. Pricing it too low is a strategy. Price it low to sell it quick for the highest price possible. Price it too low in a neighborhood with a good track record, and that seller will obtain multiple offers and every offer will be over asking price.
Offer as high as possible with the sweetest terms you can manage!