Stealth Price Cut What does it mean when a listing agent puts out the word ” on MLS or just verbally ” that their Seller “will consider all offers?” (sometimes qualified with “all reasonable offers”). Here is a rough translation: 1) the Seller knows that the current asking price is too high; 2) but, for...Read More
Using a Lowball Offer . . . to Get One That Isn’t “A crisis is a terrible thing to waste.” –Paul Romer (repeated by Rahm Emanuel and many, many others) “A lowball offer is a terrible thing to waste.” –Ross Kaplan [Editor’s Note: a least in the Twin Cities, lowball offers on well-priced, well-marketed homes...Read More
Telegraphing Tepid Interest From Buyers Through the grapevine, I heard about a colleague who is currently representing a Buyer in a condo deal where almost half of the Seller’s Disclosure is either incomplete or filled out incorrectly. Besides slowing down the deal, the Seller is unwittingly telegraphing another message to Buyers — one that isn’t...Read More
Contingent vs. Non-Contingent Offers “We may be small — but we’re slow.” –Cal Tech football team slogan To be sure, carrying one mortgage today — let alone two — can be a big financial challenge, however temporarily. And it’s certainly less risky to sell your current home, before buying your next one. However . . ....Read More
Negotiating 101 Here’s a thought: your negotiating leverage is only as good as your “or else.” As in, “if you don’t accept my last offer, I’m going to . . . ” Or, “if $3,000 towards your list of repairs isn’t sufficient, I’m going to . . .” Two Scenarios At one extreme, if your...Read More
Padded List Prices What do you do if you’re a Seller in a Buyer’s market who’s worried about lowball offers? At least a few succumb to the temptation to pad their asking (“list”) price. Their logic? The higher their initial price, “the more room they have to negotiate.” Flawed Logic Well, yes. But that presumes...Read More
