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Selling a home: When should you reduce the asking price?

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When you prepare to sell your home, thinking through your price strategy is crucial.. Should you price the home lower than everyone else in the hope it will. Ask a real-estate agent for a free comparative market analysis,

You’ve been told by a "friend of a friend" that you should always offer below the asking price when buying a house. So after viewing my home a couple of times, you decide to make an offer for $245,000 — $15,000 below asking. Your offer is good for 48 hours, so I have a couple of days to think about it.

After all, it only makes sense that you’d want to pick the offer that works best for you. To that end, I’ve laid out four questions that you should ask in order to determine. You probably know that.

Can rising mortgage rates be GOOD news? You can lock your mortgage rate, pay discount points to reduce the rate or look for less expensive homes. Rates may be on the rise, but that doesn’t mean a home has to be out of reach. NerdWallet LogoDespite rising house prices and mortgage rates, home buying power’s still strong "Considering a 1% rise in interest rates is equivalent to losing approximately 10% in buying power. If you could afford a $150,000 [home], now you are looking. prepared and cautious, though..

Buying in a seller's market can be tricky, to put it lightly.. If you find a home you like using the Opendoor app, our support team will be. In a competitive market, you might see other buyers removing or reducing their contingency periods to. As for how much you should offer, consider the asking price first.

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Reader question: "When buying a house, I've been told I should make an offer that is below the asking price so the seller will negotiate somewhere in the middle.

The reason you went into business selling services. If you have to compete on price to win a customer, you may ask yourself whether that customer will be loyal to you if they find someone offering.

Or if you’re planning to sell a company you’ve founded or a home whose value has risen sharply in a hot real estate market. Just ask Jonathan. What should you do if that’s you? Well, if you sell it.

To arrive at the right listing price, start by researching the competition.. the original listing price, how much the home actually sold for, and how long it was on the market. (You can find. Cut your ask by 5%, says Phoenix agent Greg Markov.

Translation: a reduction. As a seller, you should be asking buyers and their brokers for feedback after private viewings. Pay close attention and see if there are any common positives or negatives in their responses, so if a current theme is "It’s a bit expensive," then you’ll know it’s time to start a price drop.