Here’s what you need to know about selling in our market right now.

 

If you’re a seller in our current real estate market, you may have heard that you can price your home however you like and it’ll sell in a day, and there’s nothing out there for sale so a buyer will pay whatever you ask. However, that’s simply not true. Buyers still won’t overpay for a house. 


The way to make the most money from your sale is if you price your home competitively so you start a bidding war, which means several people are trying to buy it at the same time, and that drives up the price. Have your real estate agent look at recent comparables to price your home; our market is changing so fast that you don’t want them to look at sales from three months ago. The market will give you a price based on what buyers are looking for; if your house is in good condition and priced correctly, you’ll likely get multiple offers.


"Buyers still won’t overpay for a house."


The way to make the most money from your sale is if you price your home competitively so you start a bidding war, which means several people are trying to buy it at the same time, and that drives up the price. Have your real estate agent look at recent comparables to price your home; our market is changing so fast that you don’t want them to look at sales from three months ago. The market will give you a price based on what buyers are looking for; if your house is in good condition and priced correctly, you’ll likely get multiple offers. 


In a multiple-offer situation, you want your agent to relay your wants and needs to all the buyers' agents. For example, you can tell them you want to rent back your house for a while until you find a new property to buy, that you’re looking for a cash offer, that you want a waived appraisal, or something else. Speaking of which, you may see offers that have waived an appraisal or that the offer isn’t contingent on an appraisal, which is good if the market is moving quickly. 


Cash buyers are also helpful to you, and if they’re not a cash buyer, you need to ensure they’ve been pre-approved so you know they can afford to buy your home. Pre-qualified is not the same thing as pre-approved. You may also receive offers that aren’t contingent on the inspection. Buyers typically won’t waive the inspection altogether, but they’ll say they won’t ask for repairs, or they’ll limit repairs to a certain dollar amount.


If you have any specific selling questions, please let me know via phone or email. I’d be happy to answer them. 


Posted by Betty Gales on
Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.