Are you interested in selling your house fast?
Know that there will be consequences for your haste. How?
Here’s an example to help you understand:
You are getting divorced, and the house is split 50-50 between you and your spouse. Also, you recently visited a condo that is well under your budget. You want to buy it as soon as possible but don’t have enough for the down payment. The landlord will hold the condo for one month, giving you a short time frame to sell your house. You hire a Windermere, Florida, realtor to sell your home. After much discussion, you come up with an asking price. Weeks go by, and you don’t receive any offers. The ones you do are lower than your expectations. A month goes by in a breeze, and you lose the condo.
Why did this happen?
Let’s take a look at the reasons:
High Price
Did you look at the comps in your neighborhood or search for houses with similar features to yours? This survey helps you set an accurate asking price. A buyer won’t lowball you because they have also researched and know the current price in the housing market.
You need to be careful when selling your house fast because a slight show of your emotions will give the buyer an in to manipulate you into selling the home. We understand that selling your house can be very emotional because many memories are attached, but buyers can take advantage of this.
Here’s what will happen after accepting a lowball offer:
No Room for Negotiations
Accepting a lowball offer does not mean your house will sell fast. During the negotiations, the buyer will discuss the repairs that need to be done in the house. You should include them in the offer or risk losing the buyer.
Low ROI on Renovations
Most sellers make a few renovations to increase the sale price of your house. These usually include:
- Painting the walls
- Painting the kitchen cabinets
- Making aesthetic additions in the bathroom
- Repair the floors
- Installing a deck (A feature that many buyers love)
These are all costly repairs and renovations with an ROI of 55% to 77%. You might not get your full investment back because you don’t have time for lengthy negotiations.
Avoid Selling in Winter Months
In winter, most homeowners want to stay in their houses. Moreover, they don’t want to take on the huge responsibility of moving before Christmas. Even if you do receive an offer, chances are high that the buyer will emotionally blackmail you into selling it.
In conclusion, we are not against a hasty sale, but you must be prepared for the consequences. It’s possible that you might not get what you expected. Even with an Orlando realtor, you might come to a figure close to what you bought your house for but not more. So, follow the tips mentioned above and take measured steps.
Megan Dowdy Realty allows you to connect with qualified Orlando realtors with years of experience. To know more about the home-selling process, visit their blog and for further details, call 407-509-9279.
