A home sale can be quite a laborious process. Even the smoothest operation is going to have several obstacles that you need to look out for.
Here are the most common factors that can sidetrack the sale of your home.
Failed Inspections
Just about every sale of any property is going to include inspections. Even homes that are run-down, fixer-upper kinds of homes that are expected to be in bad condition will be inspected. That way, the buyer will know exactly what is wrong with it and exactly what needs to be fixed.
A failed inspection can grind everything to a halt for homes that are not meant to be flipped by investors but rather lived in by those who purchase them. Nobody wants to live in a home with a deep systemic issue. You will need to invest the financial resources necessary to get the home back in peak condition before continuing.
A Slow Closing Period
After the sale has been agreed upon, you have entered the closing period. Even with everything you will have done in order to get to this point, you still will not quite be in the home stretch. It’s important to not slack off or procrastinate the final steps.
Why? Investors are often looking to close on a sale quickly. The slower finalization of a sale can introduce complications that nobody wants to have to worry about. When it comes time to close, communicate liberally with the buyer. Make sure that both parties understand the timeline and the expectations of the other. A real estate agent can be helpful during this time.
The Details
Every property is going to be worth something, most often based on the size of the property itself and the location it is at–not to mention the housing market at the moment of sale. But the condition of the home and the property makes a huge difference. This is the element that you can prepare more than any other. Renovating your home, freshening up your landscaping, decluttering and depersonalizing the interior, and repairing most of what is necessary can raise the value of your home by thousands of dollars. Even the refurbishment that doesn’t necessarily add a lot to the value can create a tantalizing ambiance for potential buyers.
Home sales can be a pain–especially for those who are going through the process for the first time. Use the resources available to prepare as much as possible. Talk to a real estate agent and other experienced buyers.
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