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Monday, January 12, 2009

Doing it by the book? What book?


What is "it?"
It is buying and selling a home in the Viera, Suntree and Rockledge, Florida real estate market.

There was a time when by the book for a seller meant:

  • put it in the MLS,
  • put a for sale sign out front,
  • get a half dozen showings in the first week,
  • get an offer (little negotiating),
  • close...all in 30 days!

There was a time when by the book for a buyer meant:

  • find the 3-5 listings that met your criteria,
  • view the properties,
  • find the one that most met your criteria,
  • hope you can negotiate an acceptable price,
  • close...all in 30 days!

That was then...now is now. How has it changed?

Now a seller must:

  • price competitively,
  • stage professionally,
  • make your property stand out (read as Internet exposure),
  • be flexible/work around buyer schedules,
  • negotiate when and offer come in (patience)
  • submit an offer and wait and wait and wait if it is a short sale or bank owned property (if seller is a short sale),
  • hope the buyer's mortgage really does get approved,
  • hope the closing goes smoothly...
  • all in a month or two!
Now a buyer must:
  • hope the mortgage approval is good,
  • hope the home appraises,
  • see lots of homes and
  • choose from among 10 or 20 or more homes,
  • submit an offer and wait and wait and wait if it is a short sale or bank owned property (if seller is a short sale),
  • close...all in a month or two or longer!
Times have changed. Buyer and seller strategies have changed.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge Florida, proudly working with buyers and sellers in the Suntree, Viera and Rockledge areas of Florida's Space Coast.

Please read my other blog here.

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