Home Buying in Michigan>Question Details

Breeze, Home Buyer in Michigan

Is a home negotiable when it is phrased "priced to sell" in the description or is it displaying the lowest?

Asked by Breeze, Michigan Wed Nov 19, 2008

price the seller will accept?

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12
I have to tell you that this home is negotiable as it is listed in this paper.
0 votes Thank Flag Link Sat Nov 22, 2008
Yes !

Rose Simms
Keller Williams Realty

Looking to buy or rent a home click this link: http://www.rosesimms.com
Web Reference: http://www.rosesimms.com
0 votes Thank Flag Link Wed Nov 19, 2008
Breeze,

Absolutely, "priced to sell" is a general term probably assigned by the listing agent that indicated the feel theproperty is priced competitively with today's real estate market. It may or may not take into account the seller's level of motivation.

To get a feel for the sellers motivation, it might be helpful to pursue the original price, how long its been on the market, the amount of each price decrease, and how much the purchased the home for.

The market is such that sellers should not expect to get their asking price. Ask your agent to provide you with all of the comps for this home. It should shed some light on a price range that you can focus on and use for your initial offer and eventual final price.

Here's a general rule....everything is negotiable. It will help greatly to have information at your finger tips to support your offer.

Best wishes house huntinh.

The "Eckler Team"
Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
0 votes Thank Flag Link Wed Nov 19, 2008
Breeze,
"Priced to Sell" is a marketing term used to encourage Buyers to buy. It's equal to phrases like "move-in condition" or "great neighborhood". Home prices are negotiated between Sellers and Buyers based on all the factors affecting the home. A good buyers agent will help you determine if a home is really "priced to sell".
I work in the metro Detroit area. Let me know if I could be of any assistance.
Thanks,
Sam
734-837-1101
0 votes Thank Flag Link Wed Nov 19, 2008
"Price to Sell" is not necessarily the lowest price a seller will accept. I have had sellers who said "that is the lowest price I will take".....and then their life situation changes during the course of marketing the property which adjusts their thoughts about the "lowest price". They get married, or get divorced, or lose a job/source of income, or find their "dream home" at an unbelievable price.....the "priced to sell" price may change because of a change in the seller's personal life.
0 votes Thank Flag Link Wed Nov 19, 2008
Hi Breeze,
I agree with Danielle, she's spot on. ;-) I would also like to add that unfortunately some agent put this on the listing just to generate interest. Lately I almost don't even see that on a listing because I have become accustomed to looking right over it. This is where buyer's agent are so important. We can pull up comps, public recs etc and be able to tell you if its really "priced to sell" or if it's "priced to stay listed"
0 votes Thank Flag Link Wed Nov 19, 2008
Breeze,

Every home is negotiable!!

Even though I now live in Florida (I moved here a year ago from the Detroit area), I still hold an active real estate license in MI as well as my broker's license in FL. I'm very familiar with the metro Detroit area market and industry practices.

Usually when we (myself and colleagues) phrase it "priced to sell", it had nothing to do with what the lowest price the seller is willing to take. Its usually in regard to pricing it to sell quickly, i.e. competitively compared to similar homes in the area.

Make sure your agent pulls public records and comps before you write an offer. There are a lot of investors that have bought properties for pennies on the dollar in the area that are either selling them or renting them out. It's always good to have as much info as possible.

If there's anything I can do to help, please let me know!

Danielle
0 votes Thank Flag Link Wed Nov 19, 2008
Everything is negotiable, and I encourage you to find out what that particular home is worth to you and not pay anything over that. "Priced to sell" usually indicates that it is listed below market value for any number of reasons, and while it may even be a good deal at that price, it doesn't mean that they won't go lower.
Web Reference: http://www.keenagents.com
0 votes Thank Flag Link Wed Nov 19, 2008
everything is still negotiable until the contract is signed!!
0 votes Thank Flag Link Wed Nov 19, 2008
From Florida, to Carolina and now from Virginia - yes, generally it means there isn't much negotiating room; OR that the agent feels that the property is priced in such a way that it might get multiple offers. BUT; the sign or caption in a listing may be old, and sellers do change there minds, and agents are wrong in changing climates. So, make an offer. You might get lucky!
0 votes Thank Flag Link Wed Nov 19, 2008
Sure sounds like they priced it close to what the lowest possible the seller would take. You never know until you submit the offer in writing!

Heather Wolfe, Broker-Associate
Distinctive Homes Realty, Inc.
954.240.1102
Heather@dhrhomes.com
0 votes Thank Flag Link Wed Nov 19, 2008
I can't answer for your market place, but it generally means they feel they have cut the price to the bone. Most listing agents know that buyers like to negotiate and will try to leave just a little wiggle room in a price. That being said, it never hurts to get a buyer's agent to work for you and make an offer.
Web Reference: http://www.abarrier.com
0 votes Thank Flag Link Wed Nov 19, 2008
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