If a particular home in Orem, Utah stays on the market for quite awhile, it is easy to assume that there must be a problem. It is also easy to assume that the problem must have something to do with its physical condition or the location. These assumptions though are not always correct. Buyers do not even take the time to look at overpriced homes or make offers on them. A seller must correctly price a home if they wish to sell a Orem home. Are you looking to buy a home or Sell a Orem Home?
Most home buyers in Utah County do not want to offend the seller of the house by giving a much lower offer. Buyers usually assume that the seller might get insulted and they feel it might be embarrassing for them. The fact is that over priced listings in Orem usually get no offers submitted at all. It is better to offer a price that you want. You never know the seller may take it. A seller may be motivated to sell a Orem home so just make the offer.
Buyers assume that the seller had overpriced the home intentionally. They believe that there is no use in negotiating with a seller that marks the price up so high. Thus, they don’t write out offers and just move on to the next Orem listing they can find.
However, all of these assumptions about sellers of over priced homes in Orem, Utah are usually wrong. Most of the time, sellers do not know that there listing is overpriced. If you find a home that suits your needs but you think is over priced do not be afraid to make an offer. Tell the seller why you think the home is over priced by pointing out conditions that support your side.
Show the seller price listings of homes similar to the one you want or homes that are in similar Orem locations. This will give the seller a better idea about the value of the home they are selling. It will also make them more open to negotiation.
Most sellers do not get a single offer if they are selling over priced homes. Do not assume that somebody has already given the seller a reasonable offer before you found the listing. Instead, assume that you are the first one to give an offer and that you are the only one that the seller will ever get because of the problem with the price. This will make you more confident in making your offer and this will increase your chances of getting your offer accepted on a Orem home.
Most Realtors recommend selling your primary residence before buying another property. I have been selling homes in Utah County since 1995 and always recommend selling first. There are some exceptions to that rule. If you own your home free and clear without a mortgage then buying first is alright. A buyer must carefully look at their financial situation before making the move. Remember, sell your Orem home first.
There will be some Realtors who will try to convince you to buy first rather than to sell. This is in their best interests and not in yours. This is indeed a real dilemma because even though you decide to buy a property you will eventually have to sell the old one. And so, the real estate agent will have two guaranteed sales, no matter how much it will cost you.
If you choose to sell your property first before buying a new one, you will have all the time in the world to choose a house that you like best. Consequently, if your home won’t sell or would only appeal to very low offers which you don’t want to accept, you have the option to decline. Take your time and sell your primary residence first.
It is a financially conservative move to sell your home first. I recommend to all my clients to sell their home first before buying unless they own the first home free and clear without a mortgage.
You won’t need to rush and accept every offer because you will still have a place to stay and that’s your home. If you are not pressured to sell your house to pay off your new property in Orem Utah, you will be most likely to gain a higher sales price because your prospective buyers would realize that you are definitely not desperate to sell your home.
There are sellers who would rather take their time to locate the ideal home for their families. In fact, one of their options would be to rent a property in Orem, UT. Sometimes, if the new owners of the house do not really require an immediate occupancy, the seller can simply rent back their previous home for the renting price of the mortgage payment.
Lenders will not allow a rental contract as part of the purchase. In fact, if you state that the seller will be renting the property back for a period in the purchase contract you may not be able to get the loan. It is best for the buyer to take occupancy once the loan has been closed or shortly thereafter.
Are you looking for your Dream Home in Orem, Utah? Are you searching for an apartment that you can rent? Or are you just confused whether to sell or to buy first?
Paul Teasdale has been selling homes in Orem, Utah since 1995. Paul is familiar with the different neighborhoods in Orem.
If you want to Sell a Orem Home contact our team. Here are some other great sites to search when looking for a home in Utah County:
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