Selling your home during the Fall season is always a challenge. Homeowners are moving around less and there’s generally less demand for housing during this time of year. This can mean longer than usual marketing times and lower sales prices. The market situation can also give buyers the advantage in negotiations.
What can you do to get the best value, despite these obstacles? Read on to learn more.
Check the Roof and Insulation
First and foremost, check the roof for leaks. If you know it leaks, get it fixed. Don’t wait or try to hide the issues. Home inspectors are very astute and will discover most water damage issues, and even if they don’t, you don’t want any legal conflicts with the buyer after closing. Due to the high cost of such repairs and the inconvenience and stress they cause, it’s critical to handle any issues with the roof before listing. If there’s a chance that your buyer’s loan may be funded with FHA, the property may not be approved if it has roof or other safety issues.
If you’re lucky enough to find a good buyer, you’ll want to take every measure not to lose the transaction. Even though you can remedy some of these things after the fact, delays in escrow while repairs are made can cause uncertainty in the buyer’s mind and lead to an increased risk of a rightful breach by the buyer.
Serious About Selling Your Home? Get it Inspected.
If you’re serious about getting it sold this Fall, pick up the phone and call for a home inspection. A home inspection is relatively inexpensive and doesn’t need to be paid out-of-pocket. An inspector will help you identify all the major and less-pressing maintenance issues that will improve marketability and minimize problems in escrow. They’ll also point out safety problems that will interfere with underwriting approval and certification by FHA or other insurers.
Before and after the inspection, consider including a home warranty in the sale of your home. With no upfront costs, you can reduce your legal risk significantly and eliminate any future headaches after closing when the buyer calls to complain about the heater malfunctioning or faulty ground wiring in the living room (buyers don’t like it when they can’t watch TV after moving in…been there).
Work with Buyer Inspection & Repair Requests
If you have a sensible and diligent buyer, they will certainly order a home inspection. Once the inspection and appraisal are completed, both parties will have a clear and objective idea of what work needs to be performed. Depending on market conditions, the agreed sales price, and any other concessions, you and the buyer will decide what work you or the buyer will pay for. It’s tempting to refuse or limit repair requests, but consider the perspective of the buyer: they don’t want to be burdened with repair and maintenance issues right after moving in. Make it easy for them to move in and get started with their new life, and they’ll be sure to work with you toward a successful closing.
Price it Right When Selling Your Home
The importance of proper pricing can’t be understated, even though it might sound like cliché Realtor-speak by now. No matter what the condition, location, or any other factor, there will be a buyer if you price it at what the market will bear. Unless you find a buyer that thinks your home is a diamond in the rough and has an emotional attachment to the property, it’s unlikely that they’ll pay more than any reasonable buyer would.
Look at the most recent sold and active comparables in the neighborhood with a similar year built, living area, condition, and location to get a good idea of what homes like yours are going for. If you need help determining the value of your home, enlist the help of a local agent or give us a call. We’ll help you evaluate the selling potential of your property and identify potential solutions to help you get what you want out of selling your home.
Reach out to us at (617) 250-7100 or click here for professional assistance.