Browsing Category Sellers

Note from the Trenches (of a seller in Charlottesville)

If memory serves …

I was marketing a house in Albemarle County. We received an offer which my clients accepted, but it was contingent on the sale of that buyer’s house. Another offer came in, and my sellers “kicked out” the first contract to accept the second contract.

We bought a house from some of your clients about 5 years ago, the (removed), at (removed)., Charlottesville, 22902. We have loved the house, but have had to move this summer for work, so it is currently on the market, with no luck as of yet. We did remember that there was a kickout clause on the house when we made our offer.

We were wondering if you would contact the potential buyers with the clause or their agent on the off chance that they might still be interested. The market is not great currently so the price of the house is much lower than they offered way back then, so if they were interested it would be a better deal for them now. Obviously, if they do not have an agent you could be their agent, but if they do, and actually purchase the house, we could figure out some sort of finders fee for you.

I can’t advertise their house as it’s not my listing, but if you’re interested in a nice house under $250k in eastern Albemarle on a couple acres, I know a good one.

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Dealing with Home Buyers’ New Psychology

When we started, we were looking at new construction, and I had to tell them that whatever they wanted changed would have to be done by them, at their expense after closing, as the builders were not going to make any concessions or alterations. … That’s a difference that matters – both to actual sales numbers and perceived sales numbers – to the market’s collective psyche, if you will. See for yourself (PDF). Add to this the fact that the average Days on Market in May 2006 was 69 and the average Days on Market in May 2010 is 106 and the market rightfully feels slower.

…Many Sellers don’t want to “give their homes away” (hint: price your home to sell from Day One ) and many Buyers want to feel like they get a “deal” and many buyers have unreasonable expectations – resale homes are used homes; they are not new construction.

…They also are prepared to walk away if things don’t go their way – there will be another house that suits their needs and wants; five or six years ago, another house would come on the market, but it would probably have been more expensive.

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