November 2013 ● Wish I Had Said That… Questions and Answers

By Harriet Murray ● Cochran Real Estate ● November 2013

A. SELLERS:

• How fast can you sell my home? I need your permission to sell your home quickly. I am really between a ‘’rock and a hard place.’’ If I bring in a buyer tomorrow, you might get upset thinking we put the price too low, and you should wait for better offer. If it takes 6 months or longer to bring in the buyer, you may get upset because it took too long. So if I bring a buyer for your home tomorrow, I can sell him your home, or if you’re going to get upset, I can sell him another one and wait for six months to bring in another buyer so you’ll be happy. I don’t wish you to be upset. What do you wish me to do? I have your permission to sell your home early?

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  Puerto Vallarta Real Estate

  My house is not ready to list, but let’s talk now. This is a good idea. You and I both want the villa to be ready 100% when it goes on the market so we can maximize its impact. Let’s discuss and get the paperwork signed right now. Then we will pick a target date when you are going to be on the market. Let’s look at the calendar. Now, when do you think the repairs and all will be perfect to show?

• I want to price the home with some room for negotiation. I can appreciate how you feel the need to have some negotiating room. Consider this: We just might miss the buyer that’s willing to pay the price you are willing to accept. Would it be better, to price it right and hold tight, rather than build in too much negotiating room and possibly miss the opportunity to find the buyer whose is willing to buy your home? The buyer may not look at your marked- up price nor understand you will come down substantially. What do you think?

• We want to try to sell our condo by ourselves first. If we can’t, we will list with you. I understand, many people like to sale by owner. The biggest reason is to save the commission. Most buyers are also trying to save the commission. If you can tell me how you can save two commissions on one sale, then obviously I’ll get out of the business. The challenge isn’t to write up the sale. If through my expertise, marketing and network, I find the buyer, you can actually net more money than if you try it yourself. I will have access to more buyers since this is part of my everyday business. Wouldn’t you rather have me handle the sale for you?

B. BUYERS:

• I want to see lots of condos. Well, we will see as many as you need so you will feel comfortable with the one you buy. Do you need to see a lot of condos, or do you want to find the RIGHT one to buy? (Well, we want to find the right one to buy). I agree. If we are lucky to go out and the first condo you walk into, you look at each other and say, “Wow, this is it!’’ Would that be ok? Let’s discuss what you need and what you want in a condo.

• The house needs too much work. There are two things which are very difficult to change Everything else can be changed. What is difficult to change: the floor plan and the lot or location? Substantially everything else we can change. If you like the floor plan, but the flooring is bad, the kitchen needs updating, and we can handle this in our offer price.

• We want to offer xxxxx (low) price for this villa. Ok, but let’s think a minute. Do you realize what you are doing? Is this villa your number one choice? Then you need to really think if this will irritate the seller so much he can’t pay any attention to anything you do next. The last thing we want to happen is for him to stop working with us, correct? For what amount of money are you willing to lose the villa? $10,000-50,000usd? If the seller will not continue negotiations, are you prepared for this? Or how do you feel about your second choice?

Harriet Murray
E-mail: harriet@casasandvillas.com
Website: http://www.casasandvillas.com

This article is based upon legal opinions, current practices and my personal experiences in the Puerto Vallarta-Bahia de Banderas areas. I recommend that each potential buyer or seller of Mexican real estate conduct his own due diligence and review.

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