A hard thing for most first time home sellers is the idea that they might not make a profit when they sell their property. Depending on why they want a fast home sale, and if they actually require it to sell quickly, they might have to pay money at the closing table to get out from under the house. In the past sellers almost always left the closing table with a big fat check and a hefty profit. The housing market of the last few years has drained most people and many times sellers are just looking to break even and sometimes they are even willing to pay all of the closing cost just to get rid of the house.
In times past sellers would usually list the house for more then they desired in hopes of either finding the right buyer or of being able to appear like they are giving you a deal on the house. Right now that is not the case and most sellers are encouraged to research similar properties in the area and price your house based on the home sales of similar homes in the last 3-6 months. New listings will usually have some sort of priority so it is important to list your house aggressively in order to make a good first impression and hopefully sell the house quickly. Also make sure that you know how the listing will appear on the realty sites. The ranges that most people are looking in are either under $50K or between $50-100K. The lowest price range you can get yourself into the more people will see your listing.
Our generation has been conditioned to believe that if you purchased a property, maintained it, and wanted to sell in 5-10 years, you would make a boatload of money because real estate always goes UP in value. The recent housing crash brought on by unscrupulous lenders and other economic trends show this idea simply is not true anymore. If the property was mortgaged at 125% of its value and only rose in value by 5%, the person is still mortgaged 20% over what they can hope to make on a sale. They will likely have to 'eat' this difference in order to sell a property and start over with a clean slate. If they are in arrears on their mortgage payments, they will have to be able to bring that up to date before the mortgager will release the lien on the property. The buyer will not be interested in what the seller gave for the property or how much the seller's mortgage is. The buyer is only interested in the property value TODAY and will make an offer accordingly. Sellers must be prepared for this.
Finding a niche to market to is another way to help find a qualified buyer that will pay top dollar for the property. If the property is close to a university, a large company, a large manufacturing area, or an area of superb shopping, these people are who the advertising needs to target. Perhaps people who are going back to school for their post graduate degrees and needs to be close to the university, and close to a place to work would find the property a win-win. Find a target and hit them hard. You simply cannot just wait and hope the right buyer is going to come along.
Do you have custom appliances, or something extra like an espresso maker that you can throw into the deal? Do you have a handicap ramp, nice furniture, or anything else that might be enticing to someone that you will not mind parting with when you leave. Do you have TV's, computers, or something else that will make the house more move in ready and thus more attractive to that type of buyer. Offer these items to the buyer when you are going through the negotiations. It just might help make a deal if you find the right person.
Knowing how to sell your property in this market is crucial and cannot be taken for granted.
People can't tell you how to sell your property. You need to find the right solution for your needs. The cost of selling a house will be a big part of how you decide to sell your home. How can you cut cost and still sell quickly?
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