Hull & Company

Hull & Company
111 N 2nd
Rogers, AR 72756
479.273.5454 - phone
479.273.5400 - fax

Avoid the Urgent Sale

Have you ever experienced a situation when urgency became a top priority? Perhaps you planned to drive to the airport to catch an early morning flight. To your surprise at five in the morning, your car battery was dead, it was raining, and there was no one available to drive you to the airport.

You felt the urgency, the pressure to accomplish an objective under adverse circumstances. You may have run three blocks in the rain to catch an airport commuter bus, missed it, then hailed a taxi and paid a substantial fare to arrive on time. Your urgency caused you to suffer great inconvenience, stress, and to spend money unexpectedly. You caught your flight - and paid the price.

To sell your property at the best possible price, avoid urgency whenever possible. Your property is a valuable and quite marketable asset. You can depend on receiving a "fair market value" price for it if you allow enough time for a sale to occur.

Although real estate is a "marketable" asset, it is not necessarily a "liquid" one. The term "liquidity" means "the ability to convert an asset to cash, quickly and with little or no loss in value". While there is generally a market filled with buyers, it is generally understood that a property must be exposed to a wide range of potential buyers over a reasonable length of time to locate a buyer willing to pay full "fair market value".

Conversely, if urgency dictates a fast sale in a limited time period, the owner can expect to "pay the piper" by accepting a lower than anticipated price on less than desirable terms. The key thought is that "urgency" usually translates into a compromise of price, terms and/or convenience.

To achieve financial satisfaction when selling your property, plan ahead. Time the marketing of your property so that you will not feel pressured to sell. Make necessary repairs and improvements before placing your property on the market, or be willing to provide a buyer with an allowance sufficient to accomplish the work. Then, be prepared to wait for the right buyer!