This post is part two in a three-part series.
In Why Won’t They Buy Your House? Part 1, we began a discussion about the ways you can sabotage the sale of your home.
There are a lot of reasons for it and knowing how to address some of them can help sell your house quicker than you think.
I’ll get to it one of these days
I know I am guilty of this myself. Those little things that could easily be fixed, yet they sit there broken for months or even years. The cracked outlet cover; The light switch that doesn’t work all the time; The window that fogs over with condensation; The gutter downspout that has separated from the side of the house; The chipped paint on the corners of the hallway.
So many repairs that need to be done.
Who would you rather make those repairs?
These kinds of repairs are pretty easy to accomplish. The problem is that if you don’t do these repairs before you accept an offer on your house, you could end up spending a whole lot more to get them fixed. Why? Because after a contract is accepted, you will need to hire a licensed professional to do the work. That’s right, once a contract is in effect, any repairs must be hired out. Anyone care to guess what the hourly rate for an electrician is? How about painters or someone to work on gutters?
There are probably better ways to spend your money than to have to hire professionals to do this type of work.
Are you stopping people from seeing your home?
People need to look at your house if they are going to buy it. That requires that you have the house ready for people to come through and take a look.
A REALTOR® will make sure that people find out your house is for sale. There’s really no hard, fast rule to this but if it’s advertised and the price is set right, people will come. Don’t forget to clear out the clutter, mow the grass, and make those small repairs so your house shines.
The problem comes when the homeowner doesn’t want to vacate the property so the house can be shown. I know – sounds crazy right? Why wouldn’t someone leave their house so it can be shown?
Actually, there are a lot of reasons for this to happen. Maybe you have a three-month-old and it’s nap time. As exhausted as new parents are, the last thing they want to do is prevent their new baby from getting a nap. Maybe 30 minutes notice just isn’t enough time to get ready to get out of there. Maybe you’re in the shower and can’t respond to the request.
The point is that there are times when you can’t but if you plan things out the best you can, at least you can be ready to move quickly. Not in every case but maybe in most cases. After all, the primary objective is to sell the house. Don’t prevent people from seeing it and forcing your house to be on the market longer than it should be.
But there’s more…
What Do You Do When Your REALTOR® Tells You That You Did Too Much?
You put a lot of time and money into making some improvements to your home. The kitchen is ultra-modern with the best appliances, the best cabinets, the backsplash is really expensive and the flooring is to die for. You have a custom bathroom too with marble. Your REALTOR® then has the nerve to tell you that you’ll only get about 50 cents on the dollar for all those upgrades.
There’s this thing called over-improvement. Houses sell for their market value. This means that the price is based on what all the other houses in the area are selling for. If no one else in the area put high-end appliances and such in their kitchen, meaning that maybe they upgraded but installed “middle of the road” equipment, then why would someone pay extra because you went all out? What if the house down the road with the same floor plan and regular upgrades was selling for $20,000 less than yours? If someone can get the same house for a lot less, why wouldn’t they buy that one instead? Unless of course, they HAD to have the upgrades you put in. In that case, the right person needs to come along. The other side of that is that a lot of people won’t pay extra.
Stay with me while we are talking about the frustrating aspects of selling your home. There is one more post on this topic coming up and I don’t want you to miss it. Then we can talk about other stuff. See you in the next post.