A home seller often thinks they know their home and its value better than anyone. The truth is, it’s the market that decides a home’s value. I have yet to find a property to which this rule does not apply. It doesn’t matter whether you sell during a global pandemic, a recession, or a busy and buoyant market.
There is a buyer out there for every property. Sometimes it just takes a little more encouragement to force that buyer out of the shadows and show them what a great investment they could be making. And that encouragement would be in the form of the asking price.
Is your home priced accordingly? Is it updated and in proper repair?
Is reluctance to complete repairs going to force you out of the current market? The buyer and other agents will compare your home against its competitors in the marketplace. They also tend to overestimate any repairs.
If money is tight right now and you have no source of liquid or borrowed funds to make the necessary changes or repairs, you’ll need to lower the asking price to reflect its “as-is” condition. This way the property will entice someone solely on value.
Buyers are very savvy. The average home buyer has already spent hours on the internet searching for homes. They’ve watched endless virtual tours and have seen inside your property. How does your asking price compare to its condition? When a house is overpriced, the market will respond with a lack of interest and fewer viewings. Price fixes everything!
We all want as much as we can get for our property, but if the condition of your home does not match your asking price, you’ll risk a buyer making you a very cheeky offer indeed!
For more tips on selling your home, head to www.80ThingsReport.com for a list of the 80 things you can’t afford to neglect when selling your property!