2 Important Lessons From A First Time Seller
Selling your house is not an easy task. There are many challenges that need to be handled and each one needs to be taken in stride. If you’re looking to sell your house for the first time, here are some of the lessons that one of our clients, Jim, a first time home seller, shared with us.
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Keep Your Expectations Real And Don’t Give Up
You may already have two homes and want to become a landlord for the second one. The prospect of it sounds good; a steady flow of income from your second home to last you through to retirement. But being a landlord takes a lot of courage and gumption. Especially in such a volatile economy. But it’s one thing to say you’ll be a landlord, quite another to actually do it.
It really opens up your eyes and tests you to see whether you really had that appetite for risk or was it all a hoax. When it comes to sales, many people face buyer’s remorse after they make the sale. During the time that you’re making a sale, there is a lot of negotiation and sometimes a little bit of haggling involved. “Sometimes you just have to learn to give in, but not before taking your best shot” is what Jim told us. “Keep your expectations real (moving forward) but don’t give up! Trust me when I say it’s hard! I’m learning too, as I go along!”
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The First Bid Is Just A Start
Jim warned us: “Don’t just go for the first bid! It’s just a start! They’re likely going to make unrealistic demands to see if you give in. Don’t!” The first bid is just the starting point for others to follow. The first one isn’t likely going to be what you expected to get (i.e. it’s probably going to be below expectation).
Buyers may also get creative in protecting their interests like asking for a due diligence period, which basically means that you are taking off your house from the market for that time. They might even ask for some other concessions as well; “you just have to figure out which buyer is worth it and which is not!”
Good realtors can make all the difference in taking a sale from good to great. If you would like to have one of our knowledgeable realtors help you out with your first sale, contact Loyal Partner Homes, LLC at 952-607-5245.