Challenges When Selling a Home
Selling your home is easy as A – B -C, 1 – 2 -3……not so much! Many homeowners believe that you hire an agent, prop up a sign and poof! There is a buyer and voila! Your house is sold. Unfortunately, selling your home can be long and drawn out. Many challenges when selling a home arise throughout the entire process. But, many of these challenges are fairly common. Here are a few of the most common challenges to be prepared for.
Real Estate Market Conditions
Market conditions will absolutely affect the sale of your home. If there is a “buyers’ market” then a home buyer has the advantage over the homeowner. There are many homes on the market for buyers to select and negotiate. Your home will likely sit on the market during a buyers market as there is a large supply of homes for sale but very little demand for these homes. Whereas a “sellers’ market” has an advantage as the demand is greater than the supply and houses will fly off the market. Unfortunately, no one has control over market conditions but you can decide to hold off or list dependent upon the market.
Choosing a Realtor
Choosing a Realtor- If you are selling your home the traditional route, your choice of realtor can make or break your sale. The process of choosing a realtor is not difficult. You should interview local agents, get referrals, and ask questions. Do not pick someone who will give you the answers you want to hear or price your house the highest on the market. Hire a realtor who will listen to your wants and needs and will give you a fair, honest assessment. A local professional who is top-notch is important, especially if you follow his/her advice and suggestions.
Home Preparation for a Sale
Getting your home ready to sell– If you want top dollar for your home, it will be necessary to put money and/or time into updating your home. Changes may include fresh coats of paint, landscaping, flooring, fixtures, and minor improvements. These updates can cost money however will facilitate getting you top dollar for your home. Don’t forget you must also maintain your house for showings! Clearing your house of clutter, maintaining cleanliness and odors can be difficult with a houseful of busy people and pets.
Pricing Your Home to Sell
Pricing your home– A big challenge is finding the perfect price point for your home. Here is where you should heed your realtor’s suggestions, especially one who knows local market values. Overpricing your home can be devastating as it will usually not receive many showings or interest; thus, will affect how long your home sits on the market.
Unrealistic Home Buyers
Unrealistic Home Buyers– One of the top challenges that homeowners face when they are trying to sell their homes are unrealistic home buyers. The biggest difficult with these home buyers comes to the offer. You will likely have buyers that will offer you low ball amounts…or expect the home to be in immaculate, perfect condition. Keep this in mind if you opted not to make necessary repairs to update the home.
Passing Inspections– A home buyer will ensure that everything is in working order before they purchase your home. They will hire home inspectors to evaluate the condition of the house. The home buyer will utilize the inspection report to negotiate repairs or money off the sale price.
Closing the Deal
Closing the Deal– The home stretch! You are almost near the end of the sale process. Your realtor and attorney will be sure that the tile search, buyer bank paperwork, surveys, etc. are in order so that closing can be as smooth as possible Getting to the closing table in a timely fashion is essential so that the buyer does not lose their pre-approval.
As outlined, the process of selling your home is not so simple, especially on your own. There are many challenges when selling your home. Some are unpredictable and others can be avoided.
Of course, the best way to avoid challenges when selling is to accept a cash deal. A deal with me will avoid all of these issues! It will also allow a faster transaction. If you are looking to sell your home…and want it to be fast and simple…consider contacting me to purchase your home for cash. If you want to avoid realtor commissions or minor repairs, I am your guy. Contact here to submit your contact information and I will be sure to help alleviate the challenges when selling!