Today I’d like to share an example of why list price doesn’t matter as much as it might seem.
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If you’re a buyer on the market right now, I’ve got some key information that could be helpful for you.
Currently, there isn’t a lot of inventory. We’re in a strong seller’s market and we aren’t seeing many negotiations on price. In other words, if you fall in love with a house, don’t get caught up on the list price.
I was recently helping a client look at properties when they fell in love with a home listed at $545,000. The client wanted to submit an offer of $525,000, so that’s what we did. The seller came down $10,000 from their list price to $535,000. My clients, who were going to put 20% down with an interest rate of about 4%, couldn’t decide what to do.
To help them make their decision, I used a great tool I keep on my phone to show them the difference that $10,000 would make. While $10,000 is a lot of money in general, it isn’t enough to worry about when you’re trying to secure the perfect home.
IS $38 REALLY WORTH LOSING OUT ON THE RIGHT HOME?
For my clients in this particular situation, that $10,000 would only really have amounted to a $38 difference in their monthly payment. Think of it this way: is $38 really worth losing out on the right home?
Once I showed this information to my clients, they were more than happy to move forward with purchasing the home of their dreams.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.