Here are the hidden benefits of looking into overpriced homes.
What are the benefits of looking at an overpriced home? An overpriced home is one that was listed at a higher price than its actual value, and the seller may not be aware of it at first. It usually takes about seven to ten days for the seller to realize something is wrong, and they may start reducing the price. Here are two advantages of looking at these types of homes:
1. You might be able to get it at the price you are looking for, especially before it is reduced and sold to someone else.
2. When you are the only one making an offer, you will have more control over the terms of the offer. You might be able to negotiate house inspections or house-to-sell contingencies that other buyers cannot, but you will have to send your offer before the general public market reduces the price.
“Timing here is critical!”
You might be able to include a house-to-sell contingency in your offer, which is helpful if you are not comfortable owning two homes at once or unable to do so for a short period. Timing is crucial in this situation, so it is important to keep an eye on how long the home has been on the market and make an offer before it is reduced in the general public market.
If you are interested in learning more about terms and how to make your offer stand out, give us a call or send an email. We are here to help you understand your options and come up with a plan that works for you.
If there is a specific home you are interested in and you think it might be overpriced, give us a call today and let us go over the details for you and craft a plan to see if we can make that home yours. We look forward to hearing from you, no obligation whatsoever.
