If you’re selling a home, you need to check the price you’ve listed against the market. My fiancee and I have been starting our journey on purchasing a home. So far, it’s been met with delusional seller after delusional seller. Let me give you an idea. We found this really nice house, recently renovated from top to bottom. I searched it up on the county property records website and it was noted that the lot was 1.75 acres. One of my requirements is that I want at least 2 acres of land. I’d be fine with 1.75. We speak with our realtor who says it’s 0.75 acres. We let her know that the county GIS says the lot is 1.75. She contacts the seller’s agent and sure enough, the seller is splitting the lot and this is 0.75 acres. The price tag? $250,000. In what world is 0.75 acres of land and a small house worth that much?! Check the market – similar homes on similar land are selling for $50,000 less. Even the county property appraiser values the current 1.75 acre lot and house at $205,000.
We looked at another listing. Brand new construction, 2.75 acre lot. Listing price? $255,000. Look, a seller who isn’t living in Delusionville! That’s actually a very fair price for the lot and house. Good luck to the first seller – we would have put in an offer around your asking price had you offered the full lot. Since you’ve decided to be greedy, we’re not going to waste our time. Because we’d put in an offer about $100,000 less than what you’re asking – because we’re not living in Delusionville, population: you.