When Is an Owner Willing to Slash the Price?

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my second home I bought was vacant and I felt VERY IN CONTROL from every angle as far as negotiating etc. was concerned. I was able to go through the home with with a fine tooth comb along with my inspector and realtor before I made an offer. I had researched everything regarding the house from top to bottom in order to get over the fear of why the house was vacant in the 1st place. I found that the homeowner had taken an equity loan out on the house in order to build the house he was going to retire in within a few months. I used everything I could to take advantage of an awsome deal on the house and can't stress enough the comfort I had in fact that the house was VACANT. I even had a couple of contractors come in and quote me on some renovations and updating prior to me making an offer. It has been a DREAM COME TRUE!

Sandee of IL 8:19AM June 28, 2008

the fact that you bought the home it is automatic that you have all the rights regarding the said property.

home construction of HI 5:50PM June 24, 2008

...because it gives the buyer a view of what he/she can do to make the home more customized. I personally felt that a staged home or an occupied home gave me limits on what I was looking for, therefore not giving me the feeling of considering the home.

Kristi of UT 6:04PM June 06, 2008

In answer to the question of whether it is best to stage a home that is vacant: it is best to live in the home you are selling, but if it is vacant, you may want to stage it. A more definitive answer is hard to give without seeing the home, and knowing how long it is likely to be on the market in the neighborhood where you are selling it. In general, staging can be an effective marketing technique, but some buyers may take staging as a sign that the home is being marketed, and will covet for themselves the money for this expense.

Glenn Kelman, Redfin of WA 12:02AM June 06, 2008

It is true that a divorce in the family can bring down the cost of housing . This maybe one of those houses that took two salaries to maintain . The wife by herself cannot pay the morgage and neither can the husband by himself . If they are separating they should decide who gets the house and that person should look for a roomate to try to foot the bill .
If that doesn't work the house may have to be sold and the money divided between the two of them .
Or prehaps it would be best to rent out the house in case the family changes their minds a lot of people gop all of the way up to the brink of divorce and decide not to get a divorce.
Death is also something that makes people take less if you already own a property the last thing you need is another place to take care of.
Or if your spouse died prehaps you will want a smaller house then the one you had for the two of you or you might want to rent out a house .

dollslikeus of OH 1:56PM June 05, 2008

Luke: You list salient earmarks to watch in this market. Two, however, interest me the most. Vacants and Staging. You mention a vacant home as a major "tell" but Staging as a minor one. Seems to be a double-edged sword. Which would you recommend to a seller, leaving a vacant vacant or professionally Staging it? Doesn't a warm, welcoming home trump the money a seller pays out for the ambiance, the earlier settlement and firmer sales price that Staging brings to the table, especially as the expense is often tax deductible?

Patricia Ebrahimi of MD 8:11AM June 05, 2008