You have emptied your house and staged it according to what’s trending in the buyers’ market. It’s been only a week, and you have yet to receive any offers. The next week, you get bombarded with multiple offers. Ecstatic, you tell them all about the house and recommend a tour if they are interested. The potential buyers come to the showings, praise the beauty and bones of the house, and then leave after taking all the information. A few days pass, and you don’t receive any offer, and this happens a few times. Now, you are confused why none of the people return after touring the house. In case you are wondering, your house’s staging is not stopping your sale.
“So, what could it be?”
The asking price!
You might think that you have set the right price, but the house isn’t probably valued at that much.
So, where did you go wrong, and what should be done now?
Let’s take a look at your options.
You Failed to Look at Recently Sold Properties
A neighborhood has similar houses. When a house is sold in an area, most people assume that the other houses will be in the same range, and they are not wrong. If your house is priced above the houses recently sold in the area, chances are buyers will not approach you.
What You Need to Do: Comps are referred to houses with the same structure as your house. The rooms and the layout are the same, making pricing your house easy. Re-evaluate your house according to the nearby comps. Then, make changes according to the renovations you are making.
Be Aware of the Market Conditions
What’s the market like right now? Have house values in the real estate market gone down? Is the housing inventory high? There are plenty of factors that can affect the asking price of your house. If the housing market is down and you have set a high price, people won’t even approach you, let alone come back with a counter-offer.
What you need to do: Since you don’t have access to such information, you should hire a Windermere Florida realtor. A real estate agent will have plenty of in-depth knowledge about such matters, and he will be easily able to direct you in the right way.
You Didn’t Get the House Appraised
A house appraisal allows you to find out the current value of your house. When a buyer approaches you, their lender gets the house appraised to make sure that the loan amount being offered is accurate. If the appraisal reveals that your house’s price is low, the buyer will back off.
What You Need to Do: Before staging your house, get it appraised so that you can make renovations accordingly.
You Didn’t Get a Home Inspection
A home inspection reveals if your house has any flaws, such as faulty plumbing, broken heaters, burned outlets, etc. If you lie on the report, the buyer will back off and take the deposit with them.
What You Need to Do: Get the house inspected before putting it on the market and make all the necessary repairs. This way, you will be able to justify your price tag.
And that’s how you sell your house successfully. Remember: Do not get involved emotionally; otherwise, you won’t be able to detach yourself from the house. Once your house has been appraised and staged, consult an Orlando real estate agent to list it. Visit the website Megan Dowdy Realty to find yourself a qualified Ocoee Realtor. For further details, call on 407-509-9279.
