Why are these sellers being so stubborn? Don’t they want to sell? Why are they on the market for sale if they really don’t want to sell? It can be different in the world of real estate here in Naples, Florida compared to most areas up north.
- Unlike northern states, many of our homes for sale are second, third or fourth homes for the sellers and not primary residences so, the motivation to close a deal is different. The sellers may want to sell but, they may not need to sell.
- The Naples real estate market is in transition. The sellers know that things are more balanced between the buyers and the sellers now. In fact, there are some neighborhoods (particularly west of Route 41) in which the market favors the seller at this time.
- Our real estate market is seasonal. There is a dramatic increase in the level of activity during “season” which gives the sellers more confidence in January, February and March. We witness sellers actually increasing their list price at the beginning of the busy season.
- The sellers are aware of the benefits of a cash deal versus a financed deal. They also know that more than half of the real estate deals in the Naples, Florida area are cash transactions (regardless of price range). Many times the sellers are willing to wait for the right cash deal.
- The sellers may owe too much on the property relative to the current value.
All of this being said, here is some advice for the serious buyer for a home in Naples:
- Align yourself with a knowledgeable Realtor® with negotiating skills that can guide you through the process. You need someone who has local experience and the willingness to do the necessary homework, research the history of a property and stick with you no matter how long it takes. You will get the best results if the commitment cuts both ways with an agent.
- Don’t become fixated on just one property. Hopefully, you would have seen two or three homes in which you would be happy so if the seller of Choice #1 is not a serious seller, we can move on to one of the other homes.
- Make sure that your agent has done the homework on the neighborhood and the most recent comparable closed sales. You want your offer to be in line with the current market conditions. Some sellers are known to be offended and react badly to lowball offers and you don’t want to put yourself in a position of having the seller refuse to respond to your offer. On the other hand, no buyer wants to pay too much so your initial offer needs to be calculated wisely and take into account the other terms in an offer.
- Cash is king. You will always be able to negotiate the best deal by purchasing with cash, if you have it available. Later on, you can pull equity out of the property if needed.
We know how to negotiate the best deals for our buyers. . . . . . Call us today @239-776-5077 if you are serious about buying a home in Naples.
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