Your toilet backs up into the house, yes, run next door and ask your neighbor what you should do. After all, Miss Clara Crankypants has owned a house for 85 years, she has had an indoor toilet for 60 of those 85 years. That qualifies her as an expert!
Need someone to rewire your house? Why don’t you call that guy down the street. He just installed some of those stick in the ground solar powered walkway lights. How hard could it be anyway?
Sound pretty foolish? Well… yes it probably does. But when you are trying to sell your house and ask Miss Clara Crankypants if she thinks the offer is a good one… unless she is a real estate agent she probably won’t know the answer. After all, you are have been trying to sell for almost 3 years now. And NOW that you have an offer on the place Miss Clara Crankypants tells you that the house is $100,000 under-priced anyway.
If your house is not worth what it was a few years ago, neither is your neighbors house. Reality is often a hard pill to swallow, neighbors panic when they realize if your house sells for $100,000 less that what they think is should you will be pulling down the value of their house. Sorry, that has already happened, it has nothing to do with you.
If you want to believe Ms. Crankypants, why don’t you try countering the buyers offer by raising the price of your counter $100,000 over the current asking price and see what happens? Do make sure that when you hear a crash, followed by silence on the other end of the phone, you call 911 for your agent.
But wait, the yahoo down the street will buy your house! Just as soon as he is done sticking those solar lights in the ground… his credit is not the best but he has plans to get the money together, just you wait! Do you hear what may sound like a wild animal in agony? That is your agent, pulling her/his hair out. Most of us have heard that before, and guess what? I don’t even need any fingers to count how many times the guy down the street actually bought the house.
Of course I really am not suggesting that you do any of these things. As a matter of fact perhaps I need to add the disclaimer “please don’t try this yourself, it can be detrimental to the sale of your house and to your future”. And you probably think this would never happen, it sounds too silly, too ridiculous. But it does, maybe not in this dollar amount, but it does happen. If you think it doesn’t, I can tell you that I really did feel sorry for the agent that had to make this phone call to me.
Andrea, I know it has been a month since we received your offer. I appreciate the fact your clients hung in there, and don’t blame them for wanting to withdraw the offer. The neighbor told my client she felt I had priced the house about $100,000 under market value. (House was on the market for 2 years) Plus another neighbor came forward and said he would pay a bit more than your offer because the house was worth more. (He never did by the way).
I am thinking the best place to get real estate advice is from a real estate agent. And if you already have one… they probably know the perfect advice to give you, based on solid experience!
(The seller above was very fortunate that despite all the above my clients hung in there. There were times when they were so upset, so frustrated they were ready to pull out just on principal. But they have proven to me they have the patience of a saint and believed in me, believed that I was doing all I could to help them move forward. They get the client of the year award from me!)
originally post at “Where to go for real estate, the neighbors?”
c Andrea Swiedler 2011