3 Things Sellers Can Negotiate in a Hot Real Estate Market

The real estate market has been heating up in many places in the US. Because of that some have become seller’s markets, meaning that there are more buyers Real estate agent in front of a sold house with her customerfor the available properties listed. In a hot market like that sellers will find that there are three things that can be negotiated more easily than if it was a buyer’s market.

One important thing that can be negotiated is the closing date

Typically, closing happens in about 45 to 60 days from a completed contract (meaning both buyers and sellers have signed it). In a seller’s market you can negotiate a shorter or longer closing period, depending on your needs. If you need to find a new place to live, negotiate a longer period of time. If you have already entered into a contract for a new property and need to settle fast, negotiate a shorter period.

Appraisal amount

Another item that can be negotiated happens if the contract amount is over the appraisal amount. Instead of losing the contract, negotiate with the buyer to have them bring a bigger deposit to the table. Since most mortgage companies won’t lend over the appraisal amount, a lot of the time if that happens the sale is lost. If the buyers can do it, have them bring that difference with them to the settlement table.

A last item that can be negotiated in a sellers market is an “as is” sale

An as is sale is when you sell the home in the condition it is in, with no repairs or updates necessary. If you found a buyer who wants your home, and there are others lined up behind them, you are definitely in a position to tell your buyer “I’m not fixing anything, the sale is ‘as is’ or I’ll move onto the next person.” The only time this may not work is if it is an FHA sale. The federal government will require certain repairs if found in the inspection. That said, you can still negotiate the amount you would be willing to pay to fix them.

Should You Sell Your Home In The Spring?| Denver Realtor Tips

If you ask anyone the best time of year to sell your home, they’d say late spring or summer. They’d be right. Spring is a great time to list your home for sale. Here is why you should sell in the spring.

First reason is that inventory is low, especially in early spring

Fewer people list during the winter so there are fewer homes for buyers to see. Should You Sell Your Home In The Spring?| Denver Realtor TipsIf the supply of homes is below enough listings for six months out, it’s a seller’s market. Winter is usually the time of year when there is a seller’s market. If your home is in great shape and is up to date, it will stand out from those that have been sitting over the winter. People start looking for homes in the spring so that they can move. For families that means after the school year ends and before the next one starts. For anyone, moving in warmer weather is much easier than moving in cold and possibly snowy weather!

Lower inventory also means that prices are probably higher

Prices are also rising in general, mostly because people are finally no longer underwater in their homes and are a bit more confident about the market prospects. Put the two of them together and it isn’t a stretch to think they will continue to rise. Buying now while prices are lower is a good idea.

Sell this spring for another reason: mortgage rates

Mortgage rates have been exceptionally low for quite some time, and will be rising. Not a lot, but enough that it will kill the real estate market, but enough that people will want to buy now. Especially those who are savvy enough to know that demand, and more supply, will be rising as spring heads to summer.

So, list now while the seller’s market is in the best place for you!

If you are thinking of listing your Denver area home, please give me a call to find out more! Tena D 303-452-5853