Why i told my buyer to cancel the contract to a for sale by owner
When I tour homes for home buyers I don't shy away when approaching For
Sale By Owners. Recently, I approached a for sale by owner, since my
buyer had in interest in their home. I arranged for an appointment and
toured the home via Skype with my buyers. The home was very nice and
had all the bells and whistles my buyers where looking for. The sellers
were set on a price which included all the appliances, most of the
furniture, spa, golf cart etc. and other miscellanous items. My buyers
were so excited and told me to write up an offer right away for the price
the sellers are asking for, fearing someone else will make an offer.
I wrote up the cash offer and included an appraisal contingency that the
home must appraise at $X amount. After I present it to the homeowner I
did some further investigation into the homes' market values of
comparable homes within the community. The next day, the homeowner
called and said that they did not like the appraisal contingency and that
he is countering the appraisal contingency to a lower appraised value and
that I should offset the difference into the content of the home - lowering
the appraisal amount, increasing the amount for the contents= sellers
After I talked with my buyers of the sellers counter, I asked the buyers to
cancel their offer because the home is heavily overpriced and it would not
Is a Lakeland Fl home for sale by owner a bad idea? The answer is – YES!
Selling your home as For Sale By Owner may cost you more than hiring a
real estate agent.
Most people think that DIY projects and tasks saves them money, but this
is not always the case. Some DIY projects tend to end up a disaster, which
costs more money to fix as well as more time to redo, not to mention the
frustration it causes.
That is why there are professionals who are good at what they do, their
role is to make things easier and faster.
This is true in real estate. If you plan to put your Lakeland Fl home for
sale, make sure you work with an experienced Lakeland Florida real
estate agent. Real estate transactions are complicated and it takes a lot
of experience and knowledge about the market, neighborhood, marketing,
pricing, negotiating, and staging to successfully close a deal.
1. FSBO sellers usually price their Lakeland FL Homes for Sale too high.
Sellers often consider how much they still owe and work on a price from
there. However, buyers don’t care how much the seller owes. Buyers
compare values of Lakeland FL Homes for Sale to other similar homes in
the neighborhood. Listing a home for more than the price of comparable
sales is a very big risk. Most of the time, overpriced homes get few or no
showings at all. Once a Lakeland Fl home for sale stays on the market for
too long, it becomes stale and buyers and their agents will be negotiating
for price reductions, capitalizing on the seller’s frustration to sell.
2. Since they lack skills and knowledge in real estate, most FSBO
homeowners fail to understand many aspects of the home selling process.
hiring a seasoned Lakeland FL Real Estate agent will give you an assurance
that someone will always be there to answer your questions about selling
your Lakeland Fl home. Real estate documents and contracts are getting
more and more complicated these days, and if you attempt to do it by
yourself, you put yourself at risk of making big and costly mistakes.
Selling a home in Lakeland Fl is a very big decision with a huge impact on
the seller and his or her family. Even if you hire a Lakeland Fl agent, make
sure you are still educated and aware of the process of selling a home.
Working with an experienced Lakeland Fl real estate agent not only saves
you time and money, but also gives you peace of mind as you proceed
with the sale of your Lakeland Fl home.