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Jim Brown

Sellers Need to Rethink Turning down First offer..they may regret it...

Sunday, May 15, 2011 - Article by: Jim Brown - Gibraltar Bank - Message

Home Sellers must consider where home values were and where they are going. Home sellers need to consider the idea of turning away a buyer for five to ten thousand dollars. Another buyer may not come so easy and even if it comes 15 days later you still will be making 3 more mortgage payments. If those mortgage payments are say 2500.00 with taxes that is an additional 7500. you will be laying out. Maybe that offer for 10k less makes sense. So think about the house you were buying that is no longer availoable. What if you can't find a house now? I guess you are now renting. The other major issue at hand is this...did the home go down in value in those 75 days? Now what? That orginal offer is looking real good now. The best advise anyone can give you is when you list your home you invest in a private appraisal. List your home for whatever you feel...but remember to reach in that desk drawer when the offer to purchase arrives and look at that appraisal you invested in. YOU WILL THEN BE MAKING AN EDUCATED DECISION. AND, AS ALWAYS TIME IS MONEY.....Jim Brown, SUN National Bank, Sun Home Loans.www.sunnb,com/jbrown Call me direct on my cell.

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