Why Properties are Selling Firm
Some homes are selling firm in this real estate market. It's a bit of a change from what we've been seeing lately, here are a few reasons why.
➡️The buyers have done a home inspection prior to offering on a home. You should always do a home inspection and doing one before offering allows you to keep the offer clean.
➡️Buyers are purchasing homes that are well below their pre-approved threshold. Staying well below the limit allows room for appraisals to fall below your purchase price.
➡️All cash buyers can buy firm as they don't need any financial conditions. This is a small segment of the market, but they are out there and the current market conditions present them with a greater advantage.
➡️Some buyers are very experienced and take are comfortable taking on the risk of buying firm. They understand the issues that can come with buying firm and have a plan to mitigate them.