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Friday, May 06, 2011

The New Rules of Selling Your Home in a Buyer's Market - Sellers Be Prepared!

In a buyer’s market there are simply more buyers than sellers.  In these soft markets buyers do have the position of strength.  And I have seen some buyers use this position of strength to pry additional concessions from sellers.

As a seller, anticipating these tactics will help you decide if you have the time to say know or if the cost of saying no is worth it!

I have seen buyers in a buyer’s market attempt to go back after the contract is signed, inspection completed, financing in place  and make additional requests (demands is a better word here). 

I have observed buyers demand additional personal property be thrown in "or it is a deal breaker.  I am not an attorney so this is not a legal opinion, just a personal opinion, but once a buyer has proceeded beyond the point of all contingencies, there is an enforceable contract in place.

I have seen sellers make repairs although the contract was “as is.”

I have witnessed buyers coming back later and asking for closing assistance after the contract has been in place for some time.

I have had seller clients comply with some of these demands where I would have preferred to tell them to hit the road.

But it is not my job to make the decision, rather to follow my client’s direction.

As a seller in the Rockledge, Melbourne and Viera Florida areas, you can be prepared and anticipate these buyer market tactics. 

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