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Your full-price-offer, might not make it to the closing table!

In a seller’s market, there are many stories of quickly sold properties, receiving multiple bids, at full-price, or over full-price.  But, sometimes a full-price offer is really a Trojan horse.   In order to entice a seller to the negotiating table, and to eliminate competition for the property, buyers are presenting robust offers.

Multiple, full-price offers are always a cause for celebration, and the seller’s are entitled to some bragging.   However, there’s a saying: “it ain’t bragggin’ if you can do it”!   Although I’m a Yankee, let me phrase this in Southern terms: ” you ain’t done it, until you’ve closed on it, so hold on to that braggin’!”

Your full-price offer is only the first of the many gates-of-hell that you agreed to go through when you listed your property.  The next gate is the home inspection, and this, is where your full-price-offer will quickly dissolve!

Savvy negotiators/buyers recognize that after you’ve received your full-price offer, you’ve probably gone out thinking that all of this money is yours to keep.  You’ve entered into an agreement to purchase your dream home, purchased a new car, and become quite attached to your soon-to-be-realized wealth.   You’re not likely to want this full-price-offer to go away.  After all, you’ve told everyone on the block, and at work, of your success, and, more importantly, you don’t want to have to put the house back on the market, for your back-up buyers to seize upon what will be perceived as a distressed situation.

Your home inspection, re-opens the negotiations, and you’ll find that the full-price-offer is whittled away by the this-and-that’s that your home inspection presents.   Two hundred dollar repairs, often turn into four thousand dollar credits, or price reductions (remember, you’re still paying commission on credits, but not price reductions).

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How can you avoid this situation?

  • Take care of your condition issues before you place your property on the market.
  • Clean every square inch of your property (including garages, cellars, attics, and other storage spaces).
  • If you can’t paint, then clean!  Chipped, worn, or dated paint and wallpaper won’t look so bad if it’s been cleaned.  True Grit is a movie, and is not a selling feature for your home!
  • If your furnishings are shabby, then remove them!   It’s better to see nothing than to see something bad!
  • Above all else, be nice to your buyers!  Put out a fresh Welcome mat.   Bottled water is inexpensive and always greatly appreciated.  You don’t have to bake cookies.  Instead of baking,  provide your guests with pre-packaged snacks: Cheese & Crackers, Oreos, Milano Cookies, and other snacks are an affordable (much appreciated) snack!
  • Have a Professional Home Stager come through your property when you are finished all of the above tasks!  Staging techniques have changed greatly, and a consultation is an affordable way to achieve maximum (full-price) results for your listing!

Would a proper home staging keep my full-price-offer at full-price?

It most certainly would keep your full-price-offer from dissolving.   Professionally Staged homes have always delivered great results!   The staging reveals value, and changes the home inspection argument from:

‘”look at everything we have to do to this place”

to:

‘and this is ALL we have to do to this place”

If your buyer is looking at your property and saying “all we have to do….” they’ve become emotionally invested in your property.  Emotionally invested buyers aren’t thinking with their business brains, and they’re not likely to negotiate aggressively.

Summing it up: getting a full-price offer really isn’t that difficult.  Taking that full-price offer to the bank, is tricky. It ain’t over ’til the fat lady sings at the bank!

Happy Staging everyone!

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Houston Home Staging… a moving experience!

832.260.3151

http://www.houstonhomestaging.net

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