Two of the main reasons houses stay on the market are overpriced and unexpected repairs. Solution…home evaluation.
In a hot market, a home should sell in as few as one to three weeks.
If your home is not selling, it may be a sign that the asking price is too high. If a potential sale falls through following the home inspection, prospective buyers worry over the needed repairs.
A solid pro tip to avoid these situations and foster a quick sale is to get a home evaluation before you put the home on the market.
A Home Evaluation Will Uncover Potential Showstoppers
Negotiating a sale price and getting a house under contract are two of the most exciting moments for sellers. One thing that could ruin the excitement is the discovery of a major issue during the home inspection.
An easy way to avoid this is to get a home evaluation prior to listing.
For most homeowners, there is no way to know what faults are lurking under the surface. A home inspection will remove the potential for a big surprise after the contract is signed.
The home inspector will provide a report detailing where your home may need repairs.
Resolving these issues prior to listing will reduce the risk that the sale price is negotiated down. Outstanding issues give buyers leverage during a time when other buyers are quick to buy.
In addition, an inspection report will also make your home more attractive to prospective buyers as they will be comforted knowing no major issues lie ahead.
Lastly, the inspection will allow you to accurately and honestly report all known issues on the seller’s disclosure. This will build trust with your buyer and their real estate agent. It will also shield you from the legal ramifications of a misrepresentation charge.
A Home Evaluation Should Include a Price Appraisal or Analysis
Most people believe their home is worth more than it really is. Overpriced homes are a natural byproduct, sometimes against the advice of a real estate professional.
You may have the nicest home in town, but if the listing price is too high, it is not going to sell.
Any good real estate agent will hold a meeting before your home is listed to discuss the sale price. Here, the agent will issue you a detailed price analysis with comparable sales and a recommended listing range.
While this price analysis is valuable, buyers and real estate agents may view it as informal and biased towards the seller. They will almost certainly perform their own analysis before making an offer.
A more formal alternative is to purchase a home appraisal prior to listing your home. In this case, an appraiser who specializes in home valuation will produce a report detailing how much your home is worth.
Getting a home appraisal and inspection before listing your home will allow for the selling process. It will increase your odds of a quick sale and the highest possible price.
Do not hesitate to contact us if you have any questions about selling your home.