4 Home-Selling Reasons You Should Never Reveal
Selling your property? The first question that you will be asked, by both brokers and prospective buyers, is — why do you want to sell your house? While you are prepared with your answer, remember that this answer can be a deal maker or a deal breaker and also impact the transaction both in terms of time and price. You do owe an answer to both the parties, but calling a spade a spade in this matter may take some of the sweetness off the deal.
While it is alright to share this reason, make sure you do not disclose the details, including the timeline, more so if you are short on time. They may get a sense of your needs and urgency, and may use it to claim a lowball offer.
Buying a bigger and a better property
At times, property sellers give straightforward answers — “This house is quite small for us.”; “We want a better house.”; or “We are looking for a better neighbourhood.”. These answers make prospective buyers feel as if they are buying something a seller wants to get rid of.
Your answer should never show a feeling of discomfort with the property. Property buying involves a lot of investment and buyers hardly want to compromise on any aspect. Do not give them a reason to reject the proposition.
Looking for a lower home loan EMI
This answer weakens your position as a seller. People might believe that your finances are in bad shape and may try to take advantage of your situation.
It may not take much time for the market to believe that your property is in distress and can be sold at compromising prices. Even if you are in a situation of crisis, stay calm – your crisis may look like an opportunity to others. In the end, you might lose your negotiation power.
Unable to find tenants
If you are selling a rental property, never ever say that you didn't get a stable tenant and you find it better to sell this property rather than keep looking for tenants. The buyer might look for the reasons that make this property not worthy of renting.