Asking for help from everyone on here again We are doing FSBO. As far as the comps....way back in Nov/Dec we priced the home at what we knew was a bit too high. Stupid move looking back now. We knew better but it was not necessity that we move. We have since lowered the price to at or below comps in our area and are considering lowering again. We live in a rural area outside of Metro Washington, DC which is enticing to some and not others. We have a nice home, nice lot, well taken care of, pool, etc but one downfall......no garage (two sheds though). We have priced accordingly for the past month. Do the wise minds on here suggest that we do which one of the following if we decide to do something in regards to our price - offer a stated amount of closing cost help OR lower the price of the house more? What would be more preferred? If we lower the cost substantially then we cannot afford to offer a decent amount in closing help. Any help is greatly appreciated!!

I would think buyers would prefer the closing costs to be paid or partially paid for by you. Buyers can mortgage their house 100% if they wanted to but they will have to have cash to pay for the closing costs, so I would assume they would appreciate that? I'm not sure though as I've never had a mortgage so for me having a seller offer closing costs wouldn't mean anything because you don't pay closing costs when you pay for a house in cash. Or atlest we didn't have to pay closing costs when we purched both our homes due to paying in cash.

Unless qualified buyers know you house even exists, you won't sell. Before anyone can offer good advice, they need to know more about your situation. What's you marketing plan? How many offers have you received? Etc......

I would put the money into hiring a good agent.. no sale ./.. no commission...tons of effort... buyer pool...

even though you are FISBO... at least, call a few agents and get a professional opinion of what your price should be. Comp-wise.

There's no obligation, ....if you don't list.. at least-- you have met professional Realtors who you can refer business to in the future. That's how we work... we hope to get the listing, but if we don't, we hope you will remember us in the future.

Doing it this way -- you will be right on price.

"Always live on the positive side of Life"

REL

This message has been edited. Last edited by: real estate lady,

REL- I have already done that before we decided to do this and actually met with one three weeks ago that was trying to get us to list. They presented me with a comp that I am experienced in doing myself. The comp said my house should be at $407,000 they suggested we should be at $374,000 which is quite a bit lower than anyone around and we are at $389,900 right now. There is one short sale in our area that looks like our house with less sq ft but newer that is less at $375,000 otherwise everything is priced higher. Two friends are selling two different houses in different areas around here and thier agents are doing less for them than I am doing myself. Otherwise, there are two that I have been in frequent communication with.

HomeDude- House has been showed to only buyers that qualify. One offer was submitted, Buyer didn't qualify at a later date. Otherwise, here we still are Marketing plan right now is MLS, MRIS, zillow, realtor.com, postlets, washpost, homesbyowner, iggyshouse, craigslist, somd.com, weekly paper, sending flyers via email, taking flyers by realtors offices, posting flyers, etc There may be more but quickly off the top of my head that's all I can think of right now. I do know that agents are not pulling it for Buyers and the Buyers that have come and looked with agents are those that told them they want to come and see it. We do have all contracts, lawyer, etc. and are lined up to handle everything.

The 6 realtors I met with 5 months ago priced in anywhere from $420K to $350K and in between.

Sounds like you have a plan... on the flyers you are taking around real estate offices...try 3.5 percent to the buyers' Realtor..... that should get you some additional buyers.... worth a try.. good luck to you... just a thought.

quote:

Originally posted by real estate lady:
Sounds like you have a plan... on the flyers you are taking around real estate offices...try 3.5 percent to the buyers' Realtor..... that should get you some additional buyers.... worth a try.. good luck to you... just a thought.

I agree with this. You'll open up a whole other pool of possiblities, if you have not done this already. I doubt any agents will show your house without cash incentives - 3.5 or more would probably work the best b/c they dont generally like FSBOs so they have to be enticed.

In your area - is it common for homes not to have garages? It seems around here (anywhere in the DC suburbs), garages are a huge deal. Are the comps you're pulling also houses without garages? The reason I ask is that I know we would never buy a house without a garage (husband is from Northeast - it's a mental thing), so unless the price was such that I would have money (and you could physically do it) to build a garage onto the house... it wouldn't be an option. I just wondered because around here, you don't see too many houses without garages unless they're really old. I think I remember that your house isn't that old (from previous posts).... Also, sadly - I think the prices have changed in the last 5 months, so I am not surprised that the price may be lower. That being said - houses are selling around me, but it takes some number of months for them to sell.... My sister lives in Maryland (closer to the shore), and things are picking up a bit around her, as well....

I have been wanting to respond to everyone for days but had DSL problems. Thank you so much for the helpful responses. I really appreciate it.

REL - I forgot to mention that I have been referring business to a wonderful agent I have gotten to know. I was not one of those that "hated" agents just happen to run a construction business with DH and thought I would have a bit more time than others to do this.

Debid - I completely agree with you regarding the garage. We are in Southern Maryland....enough said. LOL One of those circumstances that when we built the house "we'll put the garage on later" was decided upon. Very bad move which we regret. My Husband was badly hurt 6 years ago and we actually had the plans done and permitted at that time. It has been simply digging ourselves out of that hole since and being very responsible with money/credit, etc. We debated putting one on this past year but decided to finally do the move instead.

We realize it is an issue; however, I find it ironic that everyone we know and also live around park thier cars in teh driveway and thier garages are stocked to the ceilings with junk and odds and ends. LOL

I will let everyone know what is decided and hopefully works. The unbiased information given on this site is great!! I talked my DH into doing this somewhat and am really hoping to see it to fruition.

The fact that a garage could be added is huge if ya ask me. I've been looking at homes where there is no room to add a garage or add on to a one-car garage. The word "potential" has become very important.

I've also been cruising www.forsalebyowner.com a lot. You may be there, but it's a nice site that I see referenced on other forums.

Hope it works out for you.

Funcolors thank you very much. We did have this spec'ed out ourselves years ago for a large garage with side addition/mudroom before "life" happened. Maybe I am being too negative about it. There is in fact plenty of room for a garage. We have 3 acres and two of it is flat. Patience is a virtue which I need in abundance right now. Thank you and have a good day!