How to Price Your Home for Success When it’s time to sell your home pricing it properly is the most important factor. While your home has a lot of value to you, it is important to see and price your home through the eyes of a buyer. Working wit
Think you sold your house? Not so fast
Real estate transactions that start out fine can unravel for any number of reasons. Even with a signed contract, problems can crop up at various points along the way to closing. But when you’re aware of what can go wrong, you may be able to avoid such problems. Here are a few to watch for.
The buyers change their minds
The residential contract includes a termination option, which allows a buyer to pay a fee for the right to back out of the contract within a certain number of days. If your buyers paid for this option, they can terminate the contract for any reason—or for no reason at all—during the time specified in your contract.
An inspection reveals issues
Speaking of the termination option, most buyers hire a professional inspector during this period to examine the home and identify problems. If an inspection turns up something significant in the minds of the buyers, they could terminate the contract or request changes to the contract, such as a price reduction.
The buyers can’t get a loan
Unless the buyers are paying cash, they need a mortgage loan. Even if they have been preapproved for a loan, the buyers could still fail to secure final approval. There’s also the possibility of an issue with the appraisal. If the property isn’t worth enough to guarantee the amount they borrowed, that could torpedo the loan approval.
That’s not all
As you can see, there are many reasons a promising real estate deal may not make it to closing. Add the following causes to the list above:
Your REALTOR® can help you avoid these scenarios and give you good advice when a potential deal-killer arises.
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How to Price Your Home for Success When it’s time to sell your home pricing it properly is the most important factor. While your home has a lot of value to you, it is important to see and price your home through the eyes of a buyer. Working wit
Seven mistakes to avoid when pricing your home Sellers often make a major mistake when deciding how much their home should sell for. Instead of thinking about what their home would really be worth in the current marketplace, they focus on what their