Tips to Sell your Home in a Cold Market
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With the real estate markets not doing well these days, homeowners are finding themselves in a quandary when they want to sell their property. Gone are the days when the seller set the terms and was able to procure any price he asked. In today’s market, it’s better to be shrewd and know your options well rather than to nurse dreams that you’re bound to get the asking price you’re demanding. If the market’s cold, follow these hot tips to help you sell your home:
* Research the prices of homes in your neighborhood and others similar to yours and price yours slightly less. Even a difference of $2,000 may be enough to generate an extra amount of interest in your home. It’s an added bonus if you’re able to clinch the deal sooner than you expected.
* Be willing to compromise on the asking price to a reasonable level. If you’re stubborn about not being willing to come down by even a few dollars, people are going to lose interest in even looking at your home let alone consider buying it.
* Give your buyer a few advantages like allowing them to make monthly payments rather than a lump sum of money. Alternatively, you could throw in a few pieces of furniture or offer to take on a few renovations that would not hurt your bank balance too much if they agree to your asking price.
* Some people are agreeable to renting your home with the offer to buy after a year or so. Give this option a chance if you’re not in immediate need of the money.
* Make sure you undertake the necessary repairs and improvements so that your home is left looking as new as the day it was built. A spruced up home is likely to attract more attention and sell fast.
* Advertise your property in any way you can, through any form of the media or by word of mouth. Hold open house visits so that prospective buyers can see for themselves what they would be getting if they bought your home.
* Keep your home neat and tidy at all times, because you never know when a prospective buyer might show up. First impressions are important and an unclean and cluttered home is not a pretty sight.
* You could offer to finance the sale yourself or pay some of the closing costs rather than losing out on the deal altogether. Remember, the longer your home is on the market, the harder it is to find a buyer at the price you’re asking. You may be penny wise and pound foolish if you’re hesitant to pay a small amount of the closing cost and willing to wait for a buyer who pays you the price you’re asking.
This article is contributed by Sarah Scrafford, who regularly writes on the topic of luxury homes in Florida. She invites your questions, comments and freelancing job inquiries at her email address: sarah.scrafford25@gmail.com
* Research the prices of homes in your neighborhood and others similar to yours and price yours slightly less. Even a difference of $2,000 may be enough to generate an extra amount of interest in your home. It’s an added bonus if you’re able to clinch the deal sooner than you expected.
* Be willing to compromise on the asking price to a reasonable level. If you’re stubborn about not being willing to come down by even a few dollars, people are going to lose interest in even looking at your home let alone consider buying it.
* Give your buyer a few advantages like allowing them to make monthly payments rather than a lump sum of money. Alternatively, you could throw in a few pieces of furniture or offer to take on a few renovations that would not hurt your bank balance too much if they agree to your asking price.
* Some people are agreeable to renting your home with the offer to buy after a year or so. Give this option a chance if you’re not in immediate need of the money.
* Make sure you undertake the necessary repairs and improvements so that your home is left looking as new as the day it was built. A spruced up home is likely to attract more attention and sell fast.
* Advertise your property in any way you can, through any form of the media or by word of mouth. Hold open house visits so that prospective buyers can see for themselves what they would be getting if they bought your home.
* Keep your home neat and tidy at all times, because you never know when a prospective buyer might show up. First impressions are important and an unclean and cluttered home is not a pretty sight.
* You could offer to finance the sale yourself or pay some of the closing costs rather than losing out on the deal altogether. Remember, the longer your home is on the market, the harder it is to find a buyer at the price you’re asking. You may be penny wise and pound foolish if you’re hesitant to pay a small amount of the closing cost and willing to wait for a buyer who pays you the price you’re asking.
This article is contributed by Sarah Scrafford, who regularly writes on the topic of luxury homes in Florida. She invites your questions, comments and freelancing job inquiries at her email address: sarah.scrafford25@gmail.com
I enjoy following your blog! The Bend Oregon real estate market continues to slow. It looks like a good time to buy in your market.
Posted by
Jim Johnson CRS |
6:24 PM
Hi,
This is a good blog. You have mentioned here some good tips. I found them very useful. I think this is the good way to help out others.
Thanks for the nice post.
Posted by
Property in Brazil |
11:20 PM
Great article, great tips. Keep 'em coming.
Posted by
Luguna Home Buyer |
10:57 AM