hat do buyers look for * Are the gutters and roof in
in terms of the house place? When was the last time the
itself? seller changed the roof?
Many agree that location is a * Apart from the human occupants
decisive factor, but so are of the house, are there termites
tangibles like the price and and other insects that live here
condition of the property (is the also?
price worth the additional huge
sums of money to put this house * These overgrown bushes and
back into mint condition? How trees are distracting. What is it
much time will I need to renovate that the sellers don't want us to
the dilapidated portions of this see?
house?).
* Is the lawn is looking
Buyers will be on the alert for unhealthy? Is the rest of the
the following: house like that?
Start with the outside of the * Have the patios and decks been
house and ask yourself the converted into storage areas? Why
following questions - because can't we see what they actually
these are the questions that your look like?
potential buyer will be asking!:
* The paint is peeling off; is
* Do these garbage cans, that why the house looks so drab
discarded wood scraps and and uninviting?
building materials strewn about
carelessly an indication of the * Why are there no lights outside
seller's negligence? the house? Is this the owner's
way of saving on utility bills?
Is this a safe neighbourhood? start with a high price.
The above questions are just a The buyer, on the other hand,
few of the many questions buyers will offer the lowest possible
are likely to ask with respect to price he can negotiate. So you
the outside of the house. A start high and he starts low.
house's exterior constitutes the This creates plenty of room to
buyer's first impression. And we negotiate - the gray area that
all know what they say about lies between the highest and
first Impressions. lowest prices.
* High and low pricing: sellers This is where sellers can make
who like to make a killing price the mistake of not demonstrating
their property way too high, sufficient flexibility to the
making it out of reach to buyers buyer!
who are looking at similar
properties in the same location. This is the reason there are high
Don't be priced out. Going to the and low prices in real estate -
other end of the spectrum, you'll what Albert Lowry called
know that you priced your house practising the give-and-take
too low when it's bought the same principle. “Such give-and-take is
or next day after you or your part of the bargaining process…
agent advertised it. It was It gives you both room to
“snatched” by someone else negotiate… As you and the buyer
because it was way below market make proposals and
price. counterproposals, you are inching
closer to agreement… Then at some
Obviously, you as seller will try point one of you will yield no
to get the highest price you can further.” Develop the extra sense
get for your property so you to know when to stop negotiating.
About the Author:
T J Madigan is director of Real Estate Secrets your source for free real estate articles and information
Read more articles by:
T J Madigan
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