$5000 less today may be equal to $5000 more one month later…

Here is a quick tip to consider when negotiating the sale of your home.

Let’s say a buyer is offering you $5000 below what you have mentally determined to be your “bottom line.” You really don’t want to accept the price, but you’re contemplating it because you’ve been on the market for over 3 months and would really like to sell your home and move on with your life.

Here’s something to consider that is often overlooked… For passing on that offer to make financial sense, it may require the next potential buyer to offer almost DOUBLE the previous offer within the next 1-2 months. Below are the financial and emotional costs you must consider if you were to pass on the original offer.

1. You are responsible for at least another month of mortgage, taxes, utilities and assessments (when applicable). This alone could be close to $5000.
2. Your market time is now higher. (Longer market time often results in lower offers.)
3. At least one more month of keeping your home in “showing condition.”
4. The gamble that you will find another ready, willing and able buyer in the near future…AND they offer more money than the previous offer.

By waiting 1-2 extra months and being lucky enough to receive a higher offer, you still may be walking away the same financially had you accepted the lower offer 30-45 days prior.

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