You Found THE House… But the Sellers Think It’s Worth WHAT?!

You found THE house.

The neighborhood is right. The layout works. You can already picture yourself living there.

There’s just one problem.

The price makes absolutely no sense.

So what do you do when you want the house, the market says it’s overpriced, and the sellers aren't willing to budge?

Asking Price Does NOT Equal Market Value

A seller can list their home for whatever they want. That doesn't automatically make it worth that amount.

When I'm representing a buyer, I look at recent comparable sales, inventory, condition, upgrades and what's happening in that specific neighborhood.

If the market supports $550K and the seller wants $600K, I'm not going to tell you to throw another $50K at it just because that's their asking price.

We'll make an offer we can back up with actual market data.

And then sometimes this happens...

REJECTED.

Okay. What's the counter?

There isn't one.

Seriously?!

I've Been the Buyer in This Exact Situation

My wife and I found ourselves in this exact position.

We found a house we really wanted, but the sellers wanted $50K+ more than what we believed the market supported.

We made our offer. They wouldn't budge.

So we had a choice: overpay because we loved the house or walk away.

We walked away.

It wasn't easy, but we weren't willing to let emotions convince us to spend $50,000+ more than we believed the house was worth.

And in the end?

We ended up with something better.

What Would I Do as Your Agent?

First, I'd make sure our number is right. I'll pull the comps, analyze the property and talk with the listing agent.

Then we'll decide your walk-away number.

Maybe the house is worth paying a little extra for because it's the perfect lot, street or neighborhood. That's your decision.

But there's a difference between paying a reasonable premium for something you really want and blindly overpaying because you're afraid to lose it.

And if you're financing, we also have to consider whether the home will even appraise at that higher price.

Sometimes the smartest move is to make a strong, market-supported offer and then let the house go.

If another buyer pays their price, that's okay.

If the house sits for another 30, 60 or 90 days?

Our offer might suddenly look a lot better.

My job isn't to make sure you win every house.

It's to make sure you don't lose your head trying to win one.

Buying in St. Augustine, St. Johns County, Jacksonville or Northeast Florida? Give me a call. Let's look at the numbers and make a smart offer—not an emotional one.

-Travis