Are you thinking about selling your Myrtle Beach house? Before you list or sell it on your own, you should have your negotiation strategy in place. Always try to be one step ahead of your buyers.
Use concrete facts to validate your asking price, not emotion, and consider anything about the house that could be used as ammunition to lower the sale price. In our latest post, we will provide negotiation tips for selling your home.
Negotiation Tips for Selling Your Home in Myrtle Beach
Inspect First, List Later
Having an inspection done before potential buyers see your home can be extremely beneficial to get your asking price without any haggle. An inspection will usually cost less than $600 and can tell you everything in your house that should be fixed. If you tend to these issues beforehand, your buyer’s inspection should come up clean and the potential buyer won’t be able to hit you up for repair costs or even walk away from the purchase if they are scared off because of the repairs needed!
Consider Throwing in Extras
Let’s say someone had toured your home, commenting on how nicely everything is set-up. You are pretty certain this person is interested, however, they seem to be on the fence. You could offer to throw in furniture, (or certain pieces) in with the house! The options with this are endless. You could offer a golf-cart, riding mower, kayak… you get the idea! Some buyers are looking for something fun for their new house, while others would prefer a $1000 gift card. Consider incentives, sometimes even a small token can help get an offer on the table. Just don’t give off the impression that you are desperate since they can use this against you during negotiations.
Don’t Be Emotional
Before you start getting offers, you will want to set your limits. Set the absolute lowest price you will accept for the house. Don’t be afraid to send a counter-offer if you get a lower than expected offer. If you do not get any offers, you might have priced the home incorrectly or maybe it simply isn’t the right time. Have a backup plan in place. You can live in the home for another year, or maybe rent it out to a tenant. If you are prepared with an alternative, you won’t end up selling your house for less than you are willing to accept. Plus, it will keep you in control. You never want to appear desperate to sell.
Facilitate a Bidding War
If you are fairly confident your house will receive many offers, you might choose to let buyers know you will be “reviewing all bids at 5 pm on Friday.” This will create a bit of a buzz. People will want to outbid each other knowing there will be competition, so you will likely receive higher offers. Then you can even ask for everyone’s highest and best offer after weeding out the weak offers. If your house isn’t primed to receive many offers, this strategy isn’t for you. You are better off checking out each offer as it comes in.
Learn About The Buyer
To help you better negotiate with a buyer, take some time to learn about them. What situation are they in? Do they need to move right away? Are they financially able to pay full price? What is their motivation for wanting to move? If they enjoy outdoor space, you can play up how large the backyard is. Need more storage space? Talk about the attic and closets. Do they like sports? Talk about their favorite team. Creating friendly conversation will help your negotiations go more smoothly.
When it comes to selling your Myrtle Beach house, you can always expect for there to be some haggling. If you are prepared and keep yourself one step ahead, you will be more likely to get your listing price!