How To Negotiate The Best Price When Selling Your Lakefront Property

Selling a lakefront property takes skill, timing, and the right approach. Buyers often see waterfront homes as luxury purchases, which means expectations run high. A strong negotiation strategy will help you secure the best deal without leaving money on the table. This guide offers insights on negotiating the best price for a lakefront property.

Know Your Property’s True Market Value

A lakefront home carries unique features that significantly impact its worth. Views, water access, lot size, shoreline quality, and even the type of lake it sits on influence pricing. Comparable sales in the area offer insights, but lakefront homes have distinct characteristics that require more precise valuation.

To establish an estimated sales price, consider hiring an agent specializing in waterfront properties. They can assess factors like:

• Water depth at the shoreline
• Type of waterfront access (private dock, shared access, or public)
• Water quality and recreational potential
• Lot elevation and risk of flooding
• Overall desirability of the lake and surrounding community

This gives you a strong foundation for negotiations. Without this, buyers may attempt to undervalue your property, leading to lower offers.

Highlight Features That Increase Appeal

Buyers looking for lakefront homes often prioritize lifestyle benefits over just square footage. It’s important to highlight key features that make your property unique and desirable.

Consider showcasing:

• Views: A home with panoramic lake views often commands higher prices. In most cases the view is worth way more than the tree that is blocking the view of the lake.
• Waterfront Access: Boat lifts, sandy beaches, and easy lake entry increase a property's value.
• Recreation Opportunities: If your property allows boating, fishing, swimming, or jet skiing, emphasize those benefits.
• Upgrades and Maintenance: A well-maintained seawall, a newly stained dock, or a recently replaced roof add value.

The better you highlight these features, the more leverage you have during negotiations.

Understand Waterfront-specific Financing Challenges

Financing for lakefront properties can be more complex than for standard homes. Buyers may face more difficult lending. Being aware of these challenges can help you navigate negotiations more effectively.

Key financing considerations:

• Appraisal Variability: Lakefront home values can be subjective, leading to discrepancies between appraisals and offers. We ensure that the appraisers are familiar with the area and have the proper MLS access and potentially share off-market sales with them to help reduce the risk of the appraisal coming in too low for our sellers.
• Lender Requirements: We recommend that our buyers use a lender that has local underwriters that are easy to get a hold of and that understand the uniqueness of waterfront properties.
• Insurance: Flood insurance is not something most buyers have dealt with before. We have the right insurance agent contacts to help the buyer obtain affordable flood insurance. Sometimes that means walking the buyer and seller through a transfer of the existing policy.

Create Competition Among Buyers

One of the most effective ways to secure a higher selling price is by generating multiple offers. Competition among buyers increases your negotiating power and can lead to a bidding war.

Strategies to create demand:

• List at the Right Time: People might think that the best time to sell lakefront homesis spring and early summer, when buyers are eager to secure vacation homes however lake houses sell year round. If inventory is low during the off season, it might be a better time to sell due to less competition. Every situation is different. We are here to give you recommendations to sell your home as quickly as possible for the most amount of money.
• Marketing Strategy: Professional photography, drone shots, and guided video tours make your listing stand out.
• Exclusive Off-market Listings: Some high-end buyers prefer off-market deals. Working with a real estate agentwith access to serious buyers can lead to better offers.
• Price it Smartly: A price slightly below market value can spark competitive interest, driving offers higher.

If you receive multiple offers, you can negotiate terms that work in your favor and push the price up.

The Power of Pricing

Many homes that start above market value, end up selling below market value many months if not years later. They become the “Stale” listing.

To help your listing agent (hopefully us) prepare the most accurate BPO (Broker Price Opinion) or CMA 9 comparative Market Analysis), it is best to provide the following :

• A professional appraisal report - if any have been done recently (required for most refinancing).
• A list of recent upgrades and maintenance records
• Create a features list to include the property features and the location features that sold you on the area/house.

Prepare for the Inspection Process

Lakefront homes often undergo more scrutiny during inspections due to their additional features (such as a boat lift). Preparing for this step can prevent buyers from using inspection findings as leverage to lower the price.

Typical areas of concern include:

• Septic Systems and Wells: Many lakefront properties rely on private systems requiring specialized inspections. If the septic has not been pumped in 3+ years, we recommend having it pumped and inspected before you get a contract. Little issues that are fixable scare some buyers who at times will want the seller to replace the existing septic systems. Proactively fixing these issues is a smart move.
• Dock and Shoreline Maintenance:Buyers will check for dock permits, seawall conditions, and boat lift functionality.

Getting apre-listing home evaluationcan help identify issues beforehand, allowing you to make repairs or adjust your negotiation strategy accordingly. A well-maintained home reassures buyers and strengthens your position during negotiations.

Offer Incentives Without Dropping Price

If a buyer hesitates over cost, offering small incentives can encourage them to move forward without reducing the asking price.

Examples of effective incentives:

• Furnishings:furnishing a second home is expensive. Used furniture isn't worth much. The buyer of your house is typically willing to spend more on your furniture than anyone else will typically pay.
• Water Equipment: Offering kayaks, paddleboards, or a boat lift can add appeal.
• Cover Minor Closing Costs: A small credit towards closing fees may be more appealing than a price cut.
• Flexible Move-In Dates: Some buyers will pay more for convenience, such as closing before peak summer.

These strategies help keep the sale price high while making the deal more attractive.

Work with a Skilled Realtor

Not all real estate agents understand the complexities of selling lakefront properties. A professional with experience in waterfront sales knows how to position your home effectively, attract the right buyers, and negotiate the best terms.

A skilled realtorbrings:

• Access to a network of serious lakefront buyers and their agents (we have access to over 13,000 waterfront buyers and 1000+ waterfront agents)
• Experience handling high-value transactions
• Knowledge of waterfront regulations and property restrictions
• Marketing expertise tailored to luxury and vacation home buyers

Choosing the right agent makes a significant difference in the outcome of your sale.

Why Work with The Lakefront Group?

Selling a lakefront home takes experience, market knowledge, and connections. The Lakefront Group is the top-rated team specializing in Texas waterfront real estate. We know the local lakes, understand the unique aspects of waterfront properties, and have a proven track record of selling homes at top value. Our team comprises skilled agents, strategic marketers, and experienced negotiators who ensure your property attracts serious buyers.

With decades of success, a strong referral-based business, and a commitment to client satisfaction, we are the trusted choice for lakefront sellers. Ready to sell? Contact ustoday to help you secure the best possible deal on your waterfront property.