The simplest things in life are often far more complicated than they appear. The process of selling a home is without a doubt considerably more difficult than most would think. There are many pitfalls along the way that can either kill or delay a sale. Some can be avoided and other cannot, but the stress and monetary loss associated with them is the one certainty.
Some things to consider when selling your home are:
- Real estate agents typically charge a commission of 5% – 6% to sell a house. Although they are required to be licensed, the ability and expertise of agents can vary greatly. You should interview several. Choosing the wrong realtor can be a nightmare.
- Be prepared to make some improvements and/or upgrades before the property is even listed. Many agents will refuse a listing that does not meet their standards.
- While it varies greatly from market to market, a rule of thumb is that once a home is listed, it takes between 60 and 100 days to sell. Of course, it can often take up to 60 days to select an agent, make repairs, set a price and go live with the listing.
- Regulatory hurdles including but not limited to zoning violations, permit issues, and even flood insurance questions can and often do delay a sale. As is typically the case, the burden and cost of compliance fall to the seller.
- Finding truly qualified buyers is sometimes difficult. This is particularly true of older homes that may be listed at a lower price point. Often times lending institutions have very demanding policies and standards that need to be satisfied before a sale can occur. There is nothing more frustrating to a seller than having a deal fall apart because of bank policy.
Traditional wisdom has led us to believe that there is only one way to effectively sell a home; the expense, stress, and delays are just a part of the process. Thankfully, there is another way sell your home quickly and without any of the hassles.