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Sunday, September 5, 2010
Can You Really Afford to Sell Your Home?
Today the biggest obstacle I am facing as a realtor is home owners who can't afford to sell their home. Or sellers who just don't want to face the reality that their home is not worth want they think. Listing an overpriced home hurts everyone and is just a waste of everybody's time. Working with sellers I am not willing to take an overpriced listing. Working with buyers it's getting very difficult to find a seller willing negotiate a reasonable price and often when we reach a "meeting of minds" the house still doesn't appraise high enough. It's a difficult situation. I don't think buyers should be the ones to overpay with larger downpayments. That just causes the cycle to continue because now they can't afford to sell or refinance. IMO sellers need to face reality. If you can't afford to sell your house don't put it on the market. If you have to sell then be prepared to bring money to closing. Owners that are not upsidedown also need to realize that they may need to be happy with a smaller check at closing, count themselves lucky and remember that if they are now going to buy they will benefit on the other end of the transaction (especially if they are upsizing).... if they can find a reasonable seller that is.
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