It can be so frustrating. Everything seems to be going well, and the buyer seems extremely interested. You seem to have him hooked, and all you’ve got to do is reel him in. But, then, you get a call from your real estate agent: the buyer isn’t interested after all. What went wrong? It could have been one (or more) of these…
3 Things That Can Make or Break the Sale of Your Home
1. The Roof
As a potential buyer approaches your home, one of the very first things she will notice is the roof. And if your roof has damaged or missing shingles, obvious leaks, or gutters that don’t seem to drain properly, that buyer will be more than a little concerned. So you need to make sure your roof is in good repair before a buyer ever steps foot on your property.
The inspection – a requisite aspect of the deal – will no doubt expose a faulty roof, which can become a deal breaker. It could even develop into a disclosure issue.
But the good news is that a new roof has the greatest remodeling value. The two reasons that concern us here are the following: 1) a new roof is way up on the list of renovations that have the greatest appeal to buyers, and 2) a new roof can yield a 100+% return in the case of a sale.
2. Keywords in Listings
This is the digital age where most people do their initial house shopping online, which means online listings are highly important. But that also means that keywords and other descriptive words in the listing must be accurate and honest. Although the realtor is usually in charge of creating the listing, you might want to have a hand in it.
If your home is in less-than-perfect shape and needs a little attention, don’t describe it as “in excellent condition.” You’ll be called out as soon as people come to look at your home. Honesty is a better policy here.
If you list your home as “renovated,” it needs to have been actually renovated. A few minor cosmetic improvements don’t constitute renovation.
If you want to say your home is in “move-in condition,” just be aware that the phrase means different things to different people.
Embellishments like “a must see” shouldn’t be used unless your home is, in fact, a must see.
Honesty/dishonesty and accuracy/inaccuracy in listings are things that can make or break the sale of your home.
3. The Price
Conventional wisdom used to have it that you should price your home slightly above market value. Then, if you got lucky and sold it at that price, you’d make a good amount of money on the sale. Or, on the other hand, you’d have some haggling room and you’d easily sell it at market value. But all that has changed.
Now that today’s home-buying environment is faster paced and because buyers are savvier than they used to be, overpricing can have some significant downsides. First, buyers will know if your home is overpriced. Also, overpricing could cause your home to sit on the market unsold for much longer, which will then make it even more difficult to sell. And if it sits too long, buyers will automatically assume something major is wrong with it.
Selling your Minneapolis home can be a lengthy process involving frustrating negotiations and various pitfalls that, if not avoided, can break the deal. But being aware of these things that can make or break the sale of your home will be a huge help. And we, too, can help you sell your home quickly and successfully.