Price seesaws
Saturday, October 10th, 2009
Location and a property’s condition are not the only factors that can drive the price of a property up or down. These are also important to consider at the negotiating table:
- The number of potential buyers. If there are two or more parties making offers, the seller and their agent will be far tougher during negotiations and you may be sensible to offer the asking price.
- The seller’s need to sell by a certain date. If they need to sell quickly, they will be more likely to accept a lower sum than the asking price.
- The duration the house has been on the market. If the seller is having difficulty selling the house, they are more likely to accept a lower price. Check whether the asking price has dropped since it went on the market.
- The season of the year. More people move during the spring and summer so prices will be slightly higher at these times of year.