May 7th, 2008 11:33 PM by Lehel Szucs
Below are some good tips to keep in mind when selling a home. The advice below applies to any area in the greater LA area.
Sales Tips: How to Seal the Deal
Money isn’t the only important aspect in the negotiation of a home sale. What makes a deal a good one for both the buyer and the seller depends on their individual situations — and it can make the situation go more smoothly if everyone, including the real estate professionals, remember that.Here are some key factors that real estate professionals in Silicon Valley, Calif., say can determine whether a deal will succeed or fail:
Contingency period. Even if there are no other offers, sellers should think twice about accepting an offer contingent on the sale of another home, especially in today's market where some homes aren't selling quickly. If buyers really want the home, they should consider other financing alternatives.
Closing date. Extending the close of escrow beyond a couple of months is risky. A lot can change in today’s market, including interest rates and the buyer’s personal situation.
Repairs. Taking the house "as is" and adjusting the price to reflect needed repairs is commonplace in a hot market, but it is also the most expedient way for both buyers and sellers in a slower one.
Lender approval. A buyer with actual approval from a reliable lender is the best kind of buyer to have.
Flexibility. When the seller has already left the area or is facing death in the family or divorce, buyers can sometimes earn themselves concessions or just good will if they are willing to accept property that hasn’t been totally cleaned, adjust the closing date to reflect travel time, or agree to other compromises that make the transaction more convenient.
Source: San Jose Mercury News, Margaret Steen (01/19/08)