Danger Zone #1: Pricing Below Value
Possibly, a home that is priced too low could eventually aid you in the start of a bidding war so that the price is driven above what the sellers wanted to make in the first place.
However, conditions must be ripe for this kind of arrangement to work. Plus, well-laid, professional plans are crucial to this maneuvers success. On the other hand, and what normally happens when a home is priced far below market value, potential buyers are left feeling as though there is some hidden, ominous fault with the property – even if there isn’t.
That kind of mentality can leave a home simply hung out to dry, which wastes valuable time. The longer a property stays on the market, the less money sellers are likely to make.