Everyone loves a good deal, especially on big, big-ticket items like a house. So if you’ve decided to buy a house, either to live in or for investment purposes, you want, of course, to get the lowest price for the most value possible. And if you know what to look for and are attentive, you can greatly increase your chances of achieving that goal. You just need to be aware of certain cues and clues – like these 4 signs a seller is not-so-savvy and might try to sell low.
4 Signs A Seller Is Not-So-Savvy And Might Try To Sell Low in Chicago Suburbs
1. Not Getting the House Ready for Sale
There’s a ton of work to do in getting a home ready for sale, from repairs to careful staging to simply cleaning up. But if the seller hasn’t even bothered to clean and stage her home, it may well work to your advantage.
For example, if the seller hasn’t filled holes in walls, done a little repainting, and gotten rid of pet odors, it could mean she isn’t interested in doing what it takes to get top dollar for the home. Whether from sheer laziness, lack of knowledge, or unwillingness to spend time and/or money, it gives you bargaining power. Also, it introduces the opportunity for you to ask about larger problems with the home.
Once these doubts and concerns have been injected into the negotiations, you have more leverage. The seller is on the defensive and in a more vulnerable position.
2. Trying to Sell During Winter
Winter is typically a slow time for home sales. There are holidays and social events, and then there’s the cold, inclement weather keeping people indoors. So putting a home on the market in wintertime is one of the sure signs a seller is not-so-savvy and might try to sell low.
There will be fewer potential buyers viewing the home, and it will likely take longer to sell. The seller may even reach the stage of desperation and be willing to accept a low offer.
3. Being Too Willing, Too Early to Negotiate on Price
Sure, being a little flexible about price is generally a good negotiating strategy. Just pay attention to any signs that the seller is a little too eager to bend. It could be another sign that the seller is nearing the desperation stage.
Another thing to pay attention to is a seller’s over-eagerness to make concessions for repairs, for instance, a new roof or some carpet replacement. Generally, the buyer has to ask for and fight for such concessions. A seller who voluntarily offers them just may not be all that savvy.
4. Mentioning Number of Showings and How Long on Market
This last of the signs a seller is not-so-savvy and might try to sell low is an important one to be on the lookout for. It can reveal a lot about the seller and his willingness to come down on price.
If the seller happens to mention that the home has had numerous showings and that it has been on the market for many months, be sure to leverage that information during negotiations. It will give you the perfect opportunity to ask the seller what’s wrong with the home and/or why it’s so overpriced. You again have the advantage of bargaining leverage by being on the offensive with a less-than-savvy seller.
If you pay attention, then, to these signs a seller is not-so-savvy and might try to sell low, you just might get that home for far less money than you expected. In addition, a good agent can do even more to help you get a good deal.