Posted by Ray Alcorn on August 10, 1999 at 13:12:28:
Jack,
I have emailed the due diligence list to you at your address above. I also included a copy of an article I wrote that covers pretty much the same ground I covered in Atlanta.
If there is anything I can do to help with the 1031 let me know.
ray
How do I encourage offers above asking price? - Posted by Jack (Ky)
Posted by Jack (Ky) on August 06, 1999 at 06:02:53:
I’ve sold a few properties over the last years and feel like I have been able to correctly price them. I’m having a new experience, however, with a house that I am currently selling.
Using my best judgement and then confering with a Realtor I know, I priced this house for $83,900. The response I’ve been getting has made me think I priced it too low. I have not shown the house yet, prefering to have an open house tomorrow.
While I am aware that pigs get fed and hogs get slaughtered, I would not mind learning a way to encourage folks to get into a bidding war. Many houses in this area have sold for more than list price. I’d like my house to do that, as well.
Any and all suggestions are welcome.
Jack Stivers
Got $1,100 more than asking price - Posted by Jack (Ky)
Posted by Jack (Ky) on August 10, 1999 at 08:13:19:
As a follow up, we had much interest at the open house, where we received three solid full price offers. One couple called later that day to increase their offer. We now have a contract to close by the end of the month for $1,100 more than our original asking price. If this things goes through, I’m partially out of the dog house at home.
Jack Stivers
Re: How do I encourage offers above asking price? - Posted by LennWa
Posted by LennWa on August 07, 1999 at 01:14:06:
Jack if you can have most of the buyers there at the same time. This in its self will create a desire in a few of the folks. Have them fill out a question air along with an ok to run a credit check. The questions will include about there desire of ownership how large of a down they have think you will have some to that you would like to ask as well and tell them that you will call them all later to let them know who got the house. Now use this info to shop each buyer. Calling them up one on one and letting the buyer know that you have an offer for x amount, would they be able to beat it. Take the 3 best offers and work on them. keeping the other 2 in reserve in case the top offer does not fly with a loan.
Think you will have your bids coming in a few $1000 over your asking price. Hope this helps.
LennWa
Re: How do I encourage offers above asking price? - Posted by CarolFL
Posted by CarolFL on August 06, 1999 at 07:09:22:
Jack,
There is a book which LA recommended to me: How to Sell your House in 5 Days. It is in B Dalton. Don’t remember the author. Don’t know if it is the be all and end all, but it gave a step by step for EXACTLY what you are talking about.
Good luck and let us know!
Carol and Dennis
Way to go Jack! - Posted by Ray Alcorn
Posted by Ray Alcorn on August 10, 1999 at 08:44:09:
Now go find a deal to put the money in!
ray
Re: How do I encourage offers above asking price? - Posted by Ray Alcorn
Posted by Ray Alcorn on August 06, 1999 at 09:37:09:
The author of “How to Sell Your Home in Five Days” is William G. Effros. The publisher is Workman Publishing, 708 Broadway, New York, NY 10003.
ray
Thanks Ray - Posted by Jack (Ky)
Posted by Jack (Ky) on August 10, 1999 at 12:54:09:
I have to find one quick. I’m doing a 1031 exchange with the equity as I’ve had this house for 10 years. I paid $40k for it with 5% down and owner financing. I want to get a two-for-one deal with the equity.
I sure enjoyed you presentation in Atlanta. I took copius notes, some of which I can’t decipher. Can I still get a copy of the material you presented? I think you mentioned that you would make it avaiable on request.
Lemme know.
Jack Stivers