Want to sell your house? Listen to your Realtor!

"Well, you know.  Sometimes the seller dictates the price."


I recently had buyers fall in love with a house and want to write an offer.  I ran the comps and saw the house was listed about $15,000 too high.  My buyers needed to borrow closing costs, so the home was going to have to appraise for an amount much higher than the comps supported.  

When I called the agent to have a conversation about my concerns regarding the appraisal, that agent said "Well, you know.  Sometimes the seller dictates the price."

I could not disagree more.   An unrealistic seller, one who wants what he or she wants regardless of what the comps reflect, very well may find himself in the same position as the above referenced sellers.  

As I like to point out, I can go into Macy*s and ask for a size 4.  It is NOT going to fit.  Ever.  No way, no how.  A seller who wants more money than his or her home is worth will run into the same situation.  Even if a buyer comes along who is willing to pay more than the home is worth, no bank is going to lend the money.

If the market doesn't support what you need in order to be able to sell and break even, then it's not your time to sell.  Better to wait than to get five weeks into a transaction, not appraise and have a lot of disappointed people.

Suzanne Prezio

Suzanne Prezio

Licensed Real Estate Salesperson, CBR
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