Tips in Selling Your Home

This scenario is all so real to many home sellers today.  They put their home on the market, they're positive about the prospect of sellng and settle on a price that meets their financial needs.

Six months later, however, they're left wondering, "Why hasn't my home sold?"  If you are about to embark on the home-selling-journey or you're in it for the long haul, take not of these selling pitfalls and ways you can avoid them.

Pricing Strategy- Is the single most important decision a home seller can make.  It is important that the home be priced correctly in todays market. If it is overpriced, it will not attract qualified prospective buyers and will only attract curiosity seekers.  It must be priced in competition with similiar homes that have sold in the neighborhood.  The listing agent must sell the home four times. It has to sell to buyers agent, buyer, lender, and appraiser.   If it is not priced correctly it will not sell at all and valuable marketing time is lost.

Buyer's Remorse -Purchaseing a home is one of the biggest decisions one can make, which is why some people have trouble committing to a home they may love.  In fact, some will look for reasons to pull out of the buying process.  Savvy sellers and their agents remind the buyer why they were attracted to the home in the first place.  This might incude pointing out the homes comparable value, the home features that match the buyer's needs or any additional features that may help the home stand out.

Low Appraisals-Today, appraisers and the lenders they represent are much more conservative when establishing fair market value.  This cause appraisers to issue a low appraisal of the home inquestion, by providing a list of homes that were used to establish a home's comparable value.  Also, be sure to meet the appraiser at the home to point out any amenities or structural details that might not be obvious to the appraiser.

Conditions and Contingencies-Before the successful close of a transaction and during the escrow process, buyers and sellers must resolve certain conditions and contingencies.  According to Trulia.com, a common condition of sale is the acceptance of an inspection report or the review of a preliminary title report.  These issues can be problematic during the home inspection period.  They may be poorly written or do not include specific deadlines.  One of the easiest ways to keep thesale from falling through the cracks is to ensure both parties are aware of the deadlines and conditions surrounding the contingencies. One of the best ways to market a home is to consult a professional home stager. On an average, homes that have been staged bring from 2-10% more in price offers than their competion, and the homes sell faster. The question is can I afford not to stage it. 

Inspection Reports-Buyers don't like surprises, and one of the fastest ways to send a buyer running is if the inspection report reveales big problems after they make an offer on a home or if the report shows the house is in unfavorable condition.  To avoid these problems, many sellers will hold a preliminary inspection prior to marketing their home.  This way, they can address any unresolved problems that might arise in the home before the buyers begin looking.  Be sure to disclose the preliminary report to any potential buyers agent and specifically any issues that were not reparied.  One of the best ways to avoid problems is a pre-listing inspection sheet to be discussed with your listing agent. All potential problem should be eliminated prior to listing.

I have been investing in real estate for over 30 years and can share with you some of the pitfalls and remedies.  Call me to help you prepare your home for sale.