Seller Considerations – Great Questions to Ask Your Sellers
Every homeowner that wants to sell their property should answer the following questions:
1. What would it mean to me if I were to sell my property?
2. What are the carrying costs for keeping the property including principal, interest, taxes, insurance, repairs, maintenance, HOA or POA dues? How much is it costing me to own my property?
3. Would I make more money selling my property and reinvesting in a performing asset? What is my lost opportunity cost?
4. If I’m buying another home, will I save more on the next purchase than I’ll lose by reducing the price to get my present home sold?
5. Is the timing right? For example, will it be harder to sell after season is over?
6. Will the inventory of homes available for sale increase in the future making it more difficult for me to sell because of foreclosure inventory or pent-up seller demand?
7. How much more aggravating will it be if I wait to get a better price? Can I put a price on this aggravation?
8. Will keeping my home adversely effect the quality of my life?
9. Will economic conditions such as oil and gas prices, deficit spending, and higher interest rates effect buyer motivations?
10. Is the first offer going to be the best one? Will I lose more money by holding out in the hopes of getting a better offer from another buyer?
11. If I were in the buyers shoes, what would I be willing to pay for my property?
12. What is the cost of the personal time you will continue to invest in getting a sale?
By answering the following questions, every seller will have a better feel for how motivated they are to get their property sold.