Florida Sells with Denise Wells

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Seller Tips - Understanding Pricing - Is Your Home Overpriced?


Sellers often think a buyer will pay whatever price they want.  A buyer will look at your home and, based on several things, they begin, in their mind, rating how well your home and very probably other homes, meet their personal criteria.  It begins there.  If your home matches their wants and desires more than any other home they have looked at, they may make an offer.  Generally, they will have a price point in their mind, which they will also weigh against other homes they may be considering.  Sellers should keep in mind that if a buyer is not a cash buyer, they will need to get loan approval.  Hopefully, they already have consulted with a lender to determine what they can afford, and buyer will have a pre-qualification letter from their lender.

Unfortunately, that is only the beginning.  Don’t forget the lender will require an appraisal to determine the fair value of your home.  A lender will not approve a loan for more than the appraisal.  If the buyer has the additional cash to pay at the closing, they could possibly still purchase your home.  Absent the additional funds needed to close, the contract will not close.  A renegotiated price may need to be agreed to in order to keep the contract alive.   




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