Want to sell a home? It may not be as simple as you think. Some people imagine that it’s as simple as contacting a real estate agent, slapping the listing online and waiting for the money to roll in.
But if you’re selling your home the “traditional” way, nothing could be further from the truth.
You always want to start the home-selling process by evaluating your market. This sounds fancy and complex, but it doesn’t have to be. It can be as simple as jumping on your local real estate website. Then, run a search for homes.
If there is a glut of listings then selling your home will be a headache. Buyers are spoiled for choice, and could be pickier or offer less money. They’ll negotiate harder for homes that they want, because there are always more homes.
If there are only a few homes on the market then you’re in good shape. You’re in a seller’s market, and buyers may have to fight with each other for the privilege of buying your home.
Preparing the Home for Sale
Preparing your home for sale is about more than planting some flowers in the front yard and slapping on a fresh coat of paint, this can include the removal of all personal items, the hardcore elimination of any and all smells, and some advice to “turn your bathroom into a spa.”
All of these suggestions assume the house is more or less in good repair. If this isn’t true, you may have to sink money into major repairs.
Keeping the Home Ready for Sale
This is a challenge if you are actually living in the home. You have to live without most personal items, and keep the home spotless, impersonal, smell-free and magazine ready.
Buyers with Unrealistic Expectations
In the back of their mind, buyers expect even older, used homes built in the 50s and 60s to look and feel brand new. Few will want to pay your asking price. These attitudes can become a frustrating hassle, especially when you’re trying to sell a home that you’ve loved and made so many memories over the years.
Contingencies, Inspections, Negotiations and Other Delays
Once the offer is made and accepted, you may enter a quagmire. First, the offer will come with contingencies which must be cleared before the sale can proceed. The most common is “contingent upon the home passing inspection.”
If you haven’t had a pre-inspection you might be in for some nasty surprises as you learn that your electrical system is out of date, there are problems with the foundation or the roof is sagging.
Problems with the home can spur a new round of negotiations involving home price, closing costs, who repairs what, and more. These negotiations can be frustrating, and may delay the sale of the home.
You’ve navigated all the hurdles and have a closing date. But it’s not time to breathe a sigh of relief yet. Your deal can still fall apart at closing. The mortgage company may choose to deny funding at the last minute, either because they don’t like the results of your home appraisal or because they’ve discovered something about your buyer that makes them nervous.
Either way, the bank has the power to put the entire deal back at square one. Which means it can take a long time to sell your house even if you have the most desirable home in the world.
A Better Way
Believe it or not, you can avoid every single one of these headaches. You just have to think outside the box a little bit and work with a reputable real estate investor.
When you work with Lennox, you don’t have to do a thing to prep your home. Call us, and we’ll make an offer within 24 hours. It’s a cash offer, so if you want to proceed you can just sign it. We can close whenever you want, even if you want to close in one week. And while you won’t get top dollar for your home, you’ll avoid the expenses, headaches, and hassle of attempting to sell it on your own, or through a realtor.
If you want to sell your home the fast and easy way, call us today.
Contact us for a free, no-risk quote within 24 hours.
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