Selling a house can be a complicated process if you’re not properly prepared. The main issue with real estate is that it’s incredibly difficult to judge what price your property will go for on the open market without having any previous sales on which to base your valuation off of. It doesn’t matter whether you’ve been living in the property for years or whether it’s brand-new, every property is unique and will sell based on its own merits, which means there isn’t a hard and fast rule when it comes to how much money you should list your house for. What this boils down to is that it’s incredibly tough to judge just how long a property is going to take before it sells without already knowing what other homes in the area are listed for, what homes in the area have recently sold for, and how quickly they’ve moved. Unfortunately, there’s no real way of getting this information until you try to sell your home or ask a qualified realtor about your market value.
The main thing you want to avoid when selling is putting your house on the market for too high a price without having an actual reason beyond “it’s worth more than I paid for it” to back up why buyers should pay that much. If you list your property too high then it could be months before any interested parties take pity on you enough to just buy it from you even if they’re willing to go over the asking price. The following are 10 quick suggestions that should help you to sell your house quickly if it’s listed for sale at an amount that seems to be over the market value.
1.) Make Varying Offers On The Property
If you want to sell your property then offering between $5,000 and $10,000 less than what you’re asking is probably going to help speed up the process so long as there are no other houses on the block that are currently sold. If another residence next door has recently sold or is currently on the market offers will vary depending on how much they’ve gone for because people rarely go out of their way to purchase properties that aren’t reasonably priced. If your neighbors have recently moved then this might not happen but even then buyers will still likely weigh up the price of your house against what its neighbors have gone for.
2.) Declare The Property As A Short Sale
A short sale is essentially where you let another party take out a loan using your property as collateral. You will be responsible for repaying this loan but doing so on time will show that you’re capable of handling debt even if this particular type of debt is related to housing. This method of selling might mean waiting a few months longer than usual but once the sale has gone through you can use any equity left over after paying off the mortgage to make improvements or purchase another home outright. Be aware that having made a short sale on your house will stay with you throughout life, every single banking institution will see a record of what happened and may use this as a reason to turn you down if they feel that you’re more likely not to be able to pay back a loan.
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Credit scores are important but they don’t tell the whole story. In some cases, thin credit files can work in your favor because lenders will perceive these as less risky than those with extensive histories of borrowing money and paying it back on time. Furthermore, alternative data points such as rent payments or utility bills can provide insight into your ability to pay things off quickly and thus establish a better line of credit on terms that suits your situation best.
3.) Get Rid Of All Furnishings
There’s no real way of saying this without sounding like you’re bragging or fishing for compliments but removing all of your furniture can help to get people interested in your property fast. If the only thing that they have to go on is an empty room with a standard color scheme then there’s not much about it which will slow down any potential buyer walking through the door, they’ll simply be able to picture themselves living in the house and more importantly how much money they could make by selling their old home if necessary. This step might seem extreme given that some Realtors will also advise you to leave at least some items behind but remember, these are professional consultants whose job it is to make sure you get top dollar for your property.
4.) Make A Video Tour Of The Interior
People can visualize themselves living in a property but only to the extent that it looks exactly like what they’ve seen on any other video tour of similar homes. One way of making sure that your home stands out from all the others is by creating a short video tour where you walk around inside and outside of the house talking about anything which visitors might want to know about your digs. This helps them imagine how long you’ve lived there, how much work went into refurbishing different areas, and even if they should hold off buying for another year or two just to take advantage of some major renovation or upgrade which has been planned.
5.) Conduct As Many Open Houses As Possible
This isn’t something anyone will tell you but it can be incredibly useful to invite as many people as possible over to your home, even if they aren’t actively looking for a house. It’s simply good practice because the more human eyes that see your property, the higher the chance is that it will attract attention from someone who knows someone else who might otherwise never have known about it at all.
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