Should You Pay for Seller Updates?
I’d like to write a little about offers and value in pricing. Had some great clients I’m working with write an offer on a beautiful home this past Sunday. Home is located in the Taylors area off Wade Hampton Blvd. Wade Hampton otherwise known as Hwy. 29 connects Greenville to Spartanburg SC.
The home is in absolutely pristine condition. I believe the sellers bought it about a couple of years ago and put about $15,000 in it. They really did a wonderful job and I love showing homes that are so well kept. My buyers wrote an offer about seven thousand below list, as a start point. Seller’s did not move on price but offered other concessions. Now there is a lot of psychology that goes into negotiating and most buyers expect the seller to move some on price, even if it is a wonderful home. So we countered the offer and came up some. Seller’s moved very little. We didn’t get it worked out. Short lesson here for sellers and buyers. Perhaps the sellers will get close to list, we’ll see. The listing agent explained that with what they had in it and the real estate commission they couldn’t move much on price.
Well folks here is my point. They only held the home for less than 2 years. In general in the Greenville real estate market, you should plan on holding your home for 5 years more to see those nice gains. Bottom line, buyers should not have to pay for sellers not holding their homes long enough