This might seem like a perfectly innocent question from home buyers, but watch outifyourethe home seller theyre asking,this is one of thediciest questions you cananswer. The reason: Pretty much any explanation you give is bound to contain revealing info that these home buyers could use against you, thereby compromisingyour negotiating power.
Home buyers are looking for any indication that youd be willing to accept an offer thats below list price, says Annapolis, MD, real estate agentGreg Beckman. If you say the wrong thing to a buyer, the person might make you a lowball offer.
To prevent that from happening, Beckman recommends sellers lettheirlisting agenthandle communication with prospective buyers. Let your agent do all the talking, he says, adding that sellers shouldnt be present for showings or open houses. (Dont have your agent yet?
That said, there are times when you might still interact with home buyerssay, if they arrive early for a showing or linger until you return. If that happens, and if the seller asks why youre selling, you want to have a short, neutral response prepared in advance, says San Francisco real estate agentAllison Fortini Crawford. Such as: We love the home, but were ready for a change.
So, whats abadanswer? Well, there are many, actually, like these doozies below.
I got transferred for my job
This is one of the most common reasons why people sell their house. In fact, 17% of peoplesurveyed by the moving company Allied Van Lines said theyve been relocated for a job. Nonetheless, revealing this to home buyers could make themthink that youre desperate to sell fast and, in turn, lead themto make a lowball offer.
Our family needs a bigger house
Trading up?Dont relay that to home buyers. The reason is pretty simple: You dont want to give buyers the idea that the house may not be enough room for them, either, says Crawford. Similarly
Now that our children have left the nest, were ready to downsize
Downsizingmakes total sense for empty nesters and retirees, but likewise, you dont want home buyers to think that your house istoolarge and difficult to maintain.
We need a smaller mortgage payment
There are a couple of reasons why this response is a bad idea. First, you dont want to give the impression that the house is too expensive or overpriced. Second, you dont want home buyers to presume that your finances are in such poor shape that youd accept a lowball offer. Put simply, Never discuss your financial situation, says Beckman.
Weve already bought our next house
If you want tofetch top dollarfor your house, dont divulge that youve already purchased your next home. It makes the home buyer think that theres a sense of urgency and that you have to sell quickly, says Crawfordwhich is a valid assumption, considering that a lot of people cant afford to carry two mortgages at once.
We want a quieter neighborhood
Steer clear of saying anything that could paint the neighborhood in a negative light. Even saying that the area isquietcould backfire. You dont know what a home buyer wants, says Beckman. For instance, some people are drawn to areas with a hopping night life (and the noise that entails), or at least a place where the streets arent barren by 8 p.m.
We need to move closer to our parents to help care for them
Manypeople move to be closer to familyand in some cases, its out of necessity. However, theres no need to share that information with home buyers, since this suggests you have to sell your home pronto.
My back problems make it too difficult for me to climb the stairs
A number of home sellersmove out of two- or three-story houses for health reasons. However, you dont want to draw attention to the fact that there are a lot of stairs throughout the home, since it could scare off older home buyers or home buyers with young children.
Our utility bills are through the roof
Energy-efficient home features are all the rage nowadays, which makes sense when you consider that home owners spend on average $2,000 a year on their energy bills. But some home buyers still overlook utility costs when they go house hunting. So, the very last thing you want to do is draw attention to the fact that your gas or electric bills are expensive.
The house is too difficult for us to maintain
No one wants to buy a money pit. So, even if youre selling a clear fixer-upper, dont mention maintenance costs to a home buyer. Also avoid talking about repairs that you just never got around to making, like repairingthe bathtub caulking, as well asbig projects like replacing the 20-year-old water heaterall reasons for home buyers to think twice aboutmaking an offer.
When you are ready to buy or sell your next homes, please call me Marie McLaughlin 727-858-7569.
Source:https://www.realtor.com/advice/sell/why-are-you-selling/
