Home Seller Issues, Part 1--coming to the table with money

Sellers, should you?

Or Sellers, why would you?

Well, I hate to see any seller have to do just that. But Sellers MUST evaluate their options carefully. Especially in a market that is geared more towards Buyers where Buyers have many choices in homes. Sometimes it is more cost effective to bring money to the table than to let your home sit on the market month after month before selling, or possibly never selling at all.

Of course you SHOULD not under sell and try to get the most for your home, but Ask yourself this: "Will it cost me more to hold on to my home, than it will cost for me to pay something at the closing table?"

You should be able to answer this easily by adding up your recurring expenses for your home and figure what it will cost you to continue holding on to your home. If your expenses are more than what it will cost you to bring to the closing table, you should seriously consider selling and bringing money to the table.

There are many situations that may cause you to really consider this option. You may be facing foreclosure, you may have another home that you just purchased and can't afford both mortgages, or you may be relocating and need to sell before you go. There could be many reasons.

Being stubborn is not going to help you here, but being smart will. Crunch the numbers, know the market, evaluate the situation, and know what will cost you more. Holding onto your home and waiting for a better price (maybe indefinitely) may just be a worse decision than taking a sale when you can even when that means bringing money to the table.

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