The vast majority of buyers want a deal. They don’t want to overpay and they don’t want to pay full list price. I understand buyers wanting a deal because I like a deal too.
Paying full list price occurs when the house is listed for $158,000 and the buyers agree to pay the sellers the $158,000 price. In this scenario the sellers are receiving what I call a “net sales price” of $158,000.
In the next scenerio, the buyers agree to pay the full list price of $158,000 but the sellers have agreed to contribute $5,000 towards the buyers closing costs. The sellers are receiving a “net sales price” of $153,000 ($158,000 sales price – $5,000 contribution to buyers closing costs).
In both of these scenarios, the buyers are paying full list price but are they overpaying or are they getting a deal? To be able to determine if the buyers are getting a deal or NO deal, we would need to determine what similar style homes in the same area have sold for recently (the comps).
The comps show similar homes have recently sold for $162,000. In both scenarios, the buyers are getting a deal. Yes, the buyers are paying full list price but paying full list price doesn’t have to mean the buyers are overpaying.
The idea that paying full list price is not overpaying is difficult for many Spring Texas home buyers to understand especially first time home buyers. But before you assume you are overpaying, you need to review and study the comps. The comps and not the list price hold the answer to the question “Are you overpaying if you pay the home’s list price?”
We contacted Jill to list our home after reading her impressive bio. Jill has all the qualifications you could... read moreWe contacted Jill to list our home after reading her impressive bio. Jill has all the qualifications you could possibly want and need in a realtor. She is a fulltime agent and there for you 100% of the time. After meeting with her to discuss our home listing, Jill came over and spent almost an entire day helping stage our home. She went to each room in our home making certain every area looked great! She even brought over a couple of carloads of her own staging items! After getting the house picture perfect, she scheduled a top of the line professional photographer. This photographer took beautiful photos of our home including drone shots of our outdoor area and pool. The first weekend of our listing Jill hosted an open house. Within ten days we were able to get a contract for the full asking price on our home. The buyers needed to move into our home quickly, so Jill worked with the buyers realtor and we were able to close the entire deal in 21 days! We were completely blown away by all the things Jill did to take care of our home sale. She is absolutely the best, no doubt about it!!
Nancy & Arnie, Lakewood Forest, Houston read less