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Wednesday, June 07, 2006

Motivation to Sell

Ultimately, the question comes up. Just plain curiosity? Best for you to answer that. "Where are they going?"

Too often the answer to that question is given without a second thought. But really, it has nothing to do with the transaction. Do the buyer's like the house? That's the real question.

More appropriate questions Buyers Should Ask are:
  • Can we be provided with a "disclosure statement?"
  • How many days has the property been on the market?
  • Have they received any offers?
  • Does the seller have a preferred closing date?

Seller's beware! Don't let your agent tip the scales on negotiating ability.

It is not the buyer's business that you desire to close before a relocation package must be accepted, that you are closing on your next home on a specific date, that your children need to start school in the new area on a certain date or that your spouse is already working in another area, etc. These things have absolutely nothing to do with disclosing defects of the property or misrepresentation. But they can have an impact on the price a buyer is willing to pay and the juggling of a closing date, when it's known that you are operating under a need, deadline or stress.

Any disclosure of motivation should be discussed with your agent.

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