Accepting A Lower Offer For Sandy Hill Real Estate - When A Lower Offer Might Be Considered

If you have an a home on the Sandy Hill real estate market you can expect to receive some offers that are lower than what you are asking. If you are wondering whether you should consider these offers you should first look at how long the property has been listed and how well the Sandy Hill market is doing.

How long it has been listed

While you may be thinking that your home has been on the Sandy Hill real estate market for a long time, you should first find out how long an average home in Sandy Hill stays on the market. This will give you a better idea of the time needed for most homes to sell. If your home has been listed for 80 days, and the average home sells in 110 days, you'll know that you are still well below the average and may not want to take a lower price yet.

Your Sandy Hill real estate agent can let you know how long it takes on average to sell a home in the area. There may be different averages for the different communities around Sandy Hill as well.

How the Sandy Hill market is doing

Find out what the market condition is in Sandy Hill and then learn how the market is doing in your part of town. Housing trends are constantly changing and will affect how fast your home will sell. Again, your real estate agent will be able to let you know the market conditions and what you can realistically expect.

When you need a fast sale

Another factor you'll have to consider when you are presented with an offer that is less than the asking price is how desperate you are to sell. If you aren't in a hurry, you can afford to wait it out until you receive a better offer. If you need to sell quickly, however, and want to avoid paying a double mortgage because you have already purchased another house, you may want to consider accepting a lower offer as long as it is reasonable.

It is always a good idea to work out the lowest price you would possibly accept before any offers are put in. This gives you more stability since you will already have a starting point to work with. You can talk to your Sandy Hill real estate agent to work out a price that you feel comfortable setting as a minimum.