I’m explaining why the online and real list price of a home may not match.
Did you know there’s a difference between the online sales price and the real sales price of a home? Whether you’re speaking with an agent about what your house may sell for or you’re online checking out what your neighbor’s property sold for, there is nearly always a difference between online and actual sales prices.
What causes this difference? Seller concessions are not considered when posting sales prices; they’re only written into the purchase agreements. For example, if a home sells for $900,000, it may have had $40,000 in seller’s concessions, meaning it actually sold for $860,000. Ask your real estate agent for clarity and a market analysis to know the exact numbers for your house.
Not all states have this, but here in Texas, we have an option period. That means the buyer comes in, both buyer and seller sign the contract, then the buyer has a 10-day option period to get inspectors and whoever they want out to the property to take a look. That will help them decide if they want to go ahead and purchase the home. Some buyers see the option period as a second negotiation phase, but as a seller, you want to eliminate this because your goal is typically to net the most amount of money.
There are two things you can do as a seller to diminish the possibility of a second negotiation. This is a bit too much to explain in a video, so we’ll walk you through the process if you’re considering selling your house.
If you have any questions about this or are thinking about selling your home, give us a call or send an email. We would love to speak with you.