Sometimes a low buyer offer may result in a higher net sale price to the sellers. The first buyer plans to secure a new mortgage loan for 30 years. The lender will be charging three points in order to give the buyers the lowest possible interest rate. When considering offers to purchase your home, ask your agent to explain your net proceeds in detail. You may be pleasantly surprised.
Some sellers price their home based on their own purchase price.
Others price their home based on need. If they plan to build a new home, they take into account the cash they need to complete their construction costs plus a little extra. Still others may need money for college costs or medical bills. No matter what the sellers plans or needs, it is important to understand that the right selling price is one that buyers are willing to pay. In fact, although sellers may set an asking price, it is the buyers who set the final price.