Selling Your Home? Don't Leave $15K On The Table Like Most Americans

 Home Sellers Leave $15,000 on the Table, New Housing Market Study Reveals

Got a chunk of home equity? Don't overpay on your next purchase, experts warn.

A new housing market study by PropWorth, an online mortgage platform, reveals that homeowners selling their appreciated properties typically overspend by $15,000 when buying their next home.

"Most home sellers don't realize the equity they've built can be leveraged to negotiate a lower price on their new place," explains PropWorth's mortgage analyst.

The data shows that American homeowners have accumulated an average of $125,000 in home equity over the past decade thanks to rising property values. But they aren't using their increased bargaining power when purchasing their next residence.

Instead of negotiating with their leverage, home sellers are overpaying. Movers are shelling out $310,000 for their new home but could potentially talk sellers down to $295,000.

"That $15,000 could make a real difference, helping you keep more equity or pay for renovations," 

Do Your Homework Before Buying Again

To avoid overpaying on your next home, real estate experts recommend arming yourself with housing market data. Research recent comparable sales, check listing times for nearby homes, and know the median sales price for the specific neighborhood.

Use this market intelligence to determine a competitive offer price and employ savvy negotiating tactics.

Crunching the numbers will help you identify listing prices that are inflated or unrealistic for the area. "This gives you more leverage to negotiate and potentially save thousands."

Tap into Your Equity

In many US housing markets, sellers still have the upper hand. But buyers with sizable home equity have bargaining power too.

With strategic negotiating based on housing market research, you can purchase your next dream home without overpaying. Don't leave your hard-earned equity behind.