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How to Buy Houses with Expired Listing
Tuesday, January 6, 2015
When a homeowner wants to sell his or her home, it is common to engage the professional services of a real estate agent. The real estate agent and the homeowner both sign a listing agreement. While the terms of the agreement can vary, the fact is that most have a firm expiration date. Essentially, the seller and real estate agent are agreeing that the real estate agent's services are being contracted to attempt to bring a qualified buyer and an offer to purchase within a certain period of time. When that period of time expires, however, the agreement terminates.
What Happens When a Listing Expires
If you want to know how to buy houses with expired listings, you are not alone. Many homes will get an offer within the specified listing period, but some will not. There are many reasons why a home may not sell within that period of time. Everything from deferred maintenance or less appealing style to general market conditions or a higher asking price may be keeping the offers from coming in. When a listing expires, some sellers will get anxious and may be more willing to negotiate or to accept a lower offer. Other real estate agents may attempt to enter into a listing agreement with the seller at this time, or the seller may even decide to take the house off the market for a period of time. If your own listing has expired, keep in mind that we buy houses
quickly and at a fair price.
Other Options Are Available
Most listing agents will meet with the homeowner before the listing agreement actually expires to discuss the situation. Feedback from potential buyers and agents who have toured the home may be reviewed, and the listing agent may use this feedback to recommend a course of action. In some cases, repainting some rooms or making a few repairs or upgrades may be suggested. In other cases, a reduction in the listing price or a different sales strategy may be recommended. While these are some options available to homeowners with an expired listing agreement, we buy houses
at a competitive price. Many homeowners may not want to continue to wait for an offer, or some may not be able to wait due to other plans they have made. Some homeowners may not want or be financially able to make repairs. If you are looking for another option to consider, we can provide you with that option.
When a homeowner enters into a listing agreement, it is generally an expectation that an offer to purchase will be received within a specified period of time. However, this is not always the case. Keep in mind that there are other ways to sell your home, and we may be interested in buying your property.