There Are Clues In The Agent & Pricing History Of A Home
Some Warren County homes tell a story without us ever walking in the door. For the most part, homes here don't sell in a few weeks, and often not in a few months, so critical information about the sellers and their motivation might be right in front of us without ever leaving our keyboard.
Some tell tale signs to watch for:
A progression of listing agents
When there's a new listing agent every 2-3 months, that's probably saying more about the sellers than the listing agent. Sure, not every agent and every seller turn out to be a great match once the sign is in the yard, but what are the odds that each agent totally failed in their obligations to the seller? More likely is each agent is telling the sellers something they don't want to hear and getting canned for it.
Pricing stays the same
Month after month, the price never wavers, or maybe there's some type of symbolic price reduction of a few dollars to send that home out again on all those automated searches. But when you can see plenty of other homes in the area have sold, and for less, perhaps even significantly less, that often indicates the seller is more interested in a certain price and less in actually getting their home sold. A check of the public records for their mortgage lien often provides insight into the seller's needs.
The home has been under contract, perhaps several times, but the deals keep falling through
Looking at the timing of when the home went under contract until the deal fell through can often tell the story. Just a day or two? Buyer remorse? A better home came on the market and they bailed? A week to two weeks? Most likely related to home inspection issues. Not necessarily anything seriously wrong with the home, but just enough the buyers changed their minds. Or maybe there IS something serious wrong and if so, the property disclosures SHOULD be updated to reflect it. After that first three weeks if a deal falls through, the most likely cause is related to financing. Perhaps the buyer had to sell a home themselves and couldn't make it happen, or more likely, something unexpected in their loan approval process bushwhacked getting that deal approved.
While none of these things alone may make a home worth avoiding, they might raise some red flags. Homes with a parade of listing agents and several broken deals should increase our wariness about that particular home.
Are YOU thinking about buying or selling a Warren County area home? Just give us a call and we can discuss how we can help you! Just contact us at 513-520-5305 or email Liz@LizSpear.com.
Serving Warren County Ohio home buyers and sellers,
Liz and Bill aka BLiz
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Direct #2: 513-265-3004
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