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What If I Price Too High?

     An overpriced piece of property is typically one that will stay on the market for a long time. By increasing the price tag on your house or building, you cut out a large group of buyers who may be ready to buy now, but can't float the bill.

     Usually, a house stays on the market for a while at one price, which decreases as time moves on. Once again, this will cause your house to be on the market for quite a while as buyers wait for your home to come into their price range. If you plan to do this "just to see," then draw up a schedule for yourself scaling down the price of your house so that it is at a marketable value after 6 weeks. You never know, you might get lucky!

     Also, you and the buyer may agree that your property is worth a greater amount, but when they go and try to get a loan, the appraiser may not agree. The lender will loan the lesser of two figures. The asking price of the house, or the appraised value. If your price is too high, the bank may not approve their loan, and you will lose the sale. Now might be a good idea to come down on that price!

[ What's the Best Time of Year To Sell? ] [ Should I List My House First Or Wait Until I Find One I Want To Buy? ] [ What if My Mortgage is Being Foreclosed? ] [ "Is it to My Advantage to Sell ""By Owner""?" ] [ Will an Agent Contact me if I Advertise FSBO? (For Sale By Owner) ] [ Am I More Likely to Find A Buyer With an Agent? ] [ What do I Look For In a Good Agent? ] [ Do I need a Lawyer? ] [ How Much can I Expect to Net From A Sale? ] [ What If I Price Too High? ] [ What If I Price Too Low? ] [ Do I Need An Appraisal? ] [ Should I Accept an Offer From A Buyer Who's Looking For a FHA or VA Mortgage? ] [ What Are Points? ] [ Can I Really Buy a Home For No Money Down? ]

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