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Tuesday, January 26, 2010

The cost of rejection….

This is not a commentary on the psychological cost of being rejected as a person. No, this is a commentary on the cost of a real estate seller rejecting a good offer on their house.

A house is worth what a buyer is willing to pay for it and you are not going to get any more. As a seller in Brevard County Florida, you must be willing to accept that this is a buyer’s market.

The opportunities to purchase attractively priced houses and condos are abundant. When you get that offer consider it wisely.

Look at the comparable properties in your neighborhood. And, if you reject the offer or the prospective buyer walks, consider the cost of rejection. Consider you competition so you know whether there are others the buyer may be considering.

What is that cost of rejection? Additional days or months on the market in a declining market. The next offer may be lower if it comes. Consider the “carrying cost” of paying the mortgage another month or six!

It is acceptable to reject an offer….as long you understand the cost of rejection.

Gary Waters, Florida licensed real estate agent, Bucci Realty, Rockledge, working exclusively with the Realtors of Century 21 Baytree Realty.

Read my blog Moving to Brevard County Florida.

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