Selling a property can be overwhelming and exhausting. You have to deal with numerous offers regarding your house for sale and sometimes you don’t have an idea how to respond properly to a deal that works for you.
If you’re searching for advice on how to review offers and negotiate with home buyers, you’ve come to the right place. Our Maui Luxury Real Estate Team has compiled not one but four foolproof tips for you to unleash the worth of your home. With these, you’ll also find out different strategies to sell your Hawaiin property in no time. Better stick with us and learn more about being a brilliant seller.
1. Price Your Home According to its Value
Setting the best price for your property can be difficult. However, your terms attract the right buyers and help you deal with them easily. When you put your price too high than its actual worth, then the chances of a long negotiation with a buyer are possible. So, think of your homes asking price seriously and know the factors which contribute to your final price.
The first step in pricing is researching the price range in the market within the last year. The easiest way to do this is by checking out realty websites and setting the location to your city. You can find the asking and selling prices of different homes and features those houses offer, contributing to their cost.
If you plan to use a real estate agent, you don’t have to do much because they can give you the information you need with a comparative market analysis (CMA). This CMA will show sold houses in your area and price point, the latest inventory of homes in the market, and the characteristics of every property sold.
In the end, always be realistic with your property value and pricing. As much as how crucial realizing your home’s worth, it’s essential to understand your price must reflect the current market. It’s because buyers follow trends, which can help you set the best price for you and your potential customer.
2. Know Your Priorities
Unknown to some, it’s a perfect idea to list all your priorities in selling your home before any of your offers arrive. According to experts, doing so will help you decide the best offer depending on the factors you’ve listed and considered as most favorable to your situation.
For example, if you need to sell your property because of a job relocation, then selling it quickly would be your top priority. That’s why the earliest offer can be your best option. Since you can immediately negotiate a closing price matching your timeline.
Our expert Maui Luxury Real Estate Team also emphasizes how costs can be another factor to consider when dealing with offers. For example, if you receive an offer from a buyer who is requesting some repairs, you’ll most likely prioritize the other buyer who isn’t requesting it since it will save you additional costs. On the other hand, if you do a rush selling of your house, chances of attracting more buyers are possible since you’ve lowered your price.
However, if you can’t seem to discover your priorities immediately, you can always seek help from our real estate agents. Just make sure to never withhold any information from your agents because they’re not only experienced but also have the best interests in mind for you.
3. Take a Look at the Contingencies of Every Offer
After all the preparations, you can now move on to the most crucial part of selling your home – reviewing the contingencies of every offer. Take a closer look at the possible things you need to do before you get paid. Think about the conditions your buyer would ask before they’ll seal the agreement with you and won’t potentially kill your best deal by overlooking it.
The most basic contingencies are buyer financing, home inspection, and property appraisal. That’s why you have the money to invest in a real estate agent, then grab this opportunity! These experts know the ins and outs of which contingencies can make or break an offer. They also know which contingencies are risky on the seller’s end, so it’s great to have someone who knows how to keep you away from risks.
In the end, contingencies aren’t always upfront — some even have strings attached which couldn’t be advantageous for you. For instance, some buyers drag out their home inspection period, which can be overwhelming for sellers who rushed to sell their property without inspecting their house thoroughly. This scenario can lead to a series of bargaining and probably have you sell it out of pressure.
Hence, if you get an offer from a buyer with too many contingencies, consider it as a factor to help you realize which deal is best for you. You can list them out and choose the one with fewer hurdles. And if you don’t mind the fees, consider investing in our real estate agency in Maui to help you deal with this matter smoothly.
4. Treat Every Offer as a Business Deal
For the last tip, remember to keep your emotions intact and treat every offer as a business deal. Sometimes the stress can overwhelm you, which can result in decisions you haven’t thought about. That’s why it’s crucial to do your best to be professional with accepting, rejecting, and negotiating with potential buyers.
If you have no idea about how to deal with buyers, note that before, during, and after a deal, you should talk with your potential client proactively. Reach out to your buyer when needed and always be polite when asking and answering questions. If your buyer plans to purchase your property via a loan, don’t forget to ask if their lender already prequalified them. You wouldn’t want to deal with the stress and hassle of having a buyer who doesn’t give you any assurance.
Lastly, whatever the reason you have for selling your property, keep your emotions in check because it can affect how you decide and think. You can also have a real estate agent to assist you in situations like this. So that you won’t miss any great offer you possibly never thought of.
Even if selling your home in Hawaii can take up some of your time and energy, you can be at ease with these four foolproof tips as long as you follow them. Always remember to price your property right and know your priorities on hand. Don’t forget to take a look at contingencies buyers have with their offers and treat them as a business deal. Lastly, communicate with your buyer with the help of our Maui Luxury Real Estate Team from Keller Williams Realty Maui> Their professionalism and knowledge will align any of their fears and gain their trust and assurance in the end.