Selling a home: When should you reduce the asking price?

Selling a home: When should you reduce the asking price?

Whether you are the seller or the buyer, when a home’s appraisal comes in too low you have some decisions to make. For the seller, it’s whether to lower the price so that it meets the.

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If you can take your time, you should not feel pressured to sell at a price you are unhappy with. You can take two basic approaches (effectively the difference between UK and Dutch auctions): Start high, but be prepared to go lower. If you sell at a high price, great. If you do not, then you can slowly reduce the price until you do sell.

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But setting your price just right is easier said than done. According to a 2012 National Association of Realtors survey, 60% of sellers had to reduce the price on their homes at least once. Should you consider lowering your asking price? Classic Selling Mistake

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That said, there’s no hard-and-fast rule for when to reduce your asking price (and by how much). Instead, it’s the stuff of Web site forums and real estate blogs, with most questions posted late at night by sellers who have already bitten their fingernails to the quick.

When selling your home when should you lower the price? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

How To Price Your Own Home To Sell When should you reduce the asking price for your home? That’s not a question any seller wants to ask, but in the real world – a world where the best plans sometimes go awry – it’s a real.

How to Renegotiate a Price Reduction on Real Property After a. – Smart buyers make the sale contingent on a home inspection. A professional home inspector looks for problems and defects in the home. If your inspector finds problems, you can ask the seller to reduce the selling price of the home, in recognition of the costs you’ll incur to repair these defects.

If you really like the property, you should have your agent check all the active and recently sold comparable properties to make sure the price you offer is reasonable, and err on the side of offering closer to the list price. Bidding usually favors the bold, so if you can’t afford to lose, you should probably start bidding at asking price.

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