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Home / Buy and Sell / Seller / How long to wait before reducing house price?
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How long to wait before reducing house price?

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0 2022-12-22T13:12:22+00:00
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Hey pal,

All of us have heard about houses being sold within days. If your house doesn't get snatched quickly in what seems to be a seller-friendly real estate market, it leads to tension. To be honest, there is no set guide on how long to wait before reducing house price. I will share a few tips that might help you. 

Check out NoBroker Seller Assist Plans to get prospective buyers lined up quickly. Get the sale agreement delivered to your doorstep from NoBroker here. How often should I drop the price of my house?

According to the general rule of thumb, you can drop the price of your house after it has been on the market for one to two weeks. Two weeks is a good enough mark to evaluate the property’s selling price. Ask yourself questions such as ‘ is the selling price too high for the current market? ‘Are there any warranties and closing costs of this property?, ‘ Are properties in the area being sold quickly?

All sellers think about home price reduction strategy when their property isn't sold quickly. Real estate experts recommend decreasing the sale price of the property by 5% to 10% to attract prospective buyers. Reducing the price by 1% might be considered as a low discount by prospective buyers.

If you drop the price more than once, then the buyer might assume there is something wrong with the property. Though, remember there is no universal timeline to follow. Decide what is best for your situation. I hope my explanation of how long to wait before reducing house price, helps you out. 

Read more: 

Why is buying a house so stressful how long to wait before reducing house price How do interest rates affect house prices

Can you offer less than asking price on a house

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