The average home stays on the market for 71 days from listing to closing. While it can take months to sell a home, you can greatly speed up this process by considering cash buyer options.
However, there are many common mistakes that homeowners make when selling homes to cash buyers. These mistakes can impact the time it takes to sell, how much money they sell for and more.
Do you want to learn more about these mistakes and how to avoid them? Keep reading this guide for everything you need to know bout selling homes quickly for cash!
1. Having Unrealistic Pricing
One of the most common mistakes you can make when preparing homes for sale is having unrealistic pricing expectations. While you may feel like your home is more valuable than the appraisal listed, trying to sell your home for too much money will make it much harder to sell.
Often, homeowners that are attached to their homes have emotions connected to the home, which can cloud their judgment. It may make them less likely to negotiate with buyers, which can deter people from buying the home.
Still, you should not accept lowball offers from potential buyers. Make sure you research the current retail price for other houses in your area so that you will have an accurate and fair home price when you sell.
2. Spending Too Much on Repairs
Spending too much money on repairs is one of the easiest ways that you can lose money when selling your home for cash. While you may think that making repairs or updates to your home will help you earn more money, it may have the opposite effect.
This is because most cash home buyers do not care about the condition of your property. Most often, you can expect to sell “as-is” when selling homes for cash.
Making quick repairs to your home will not likely increase the sale value, but it will cost you a lot of money to repair, fix, or stage your home. Because of this, it is better to save this money instead of putting it towards repairs that will not provide a return.
3. Not Planning Your Move
Failing to plan your move is another serious mistake that people make when selling their homes for cash. While traditional home sales can take several months, selling your home for cash will often speed up this process.
Often, you can expect your home to close within a week or two with a cash offer. This means that you will have much less time to pack your belongings and move out of your home.
You need to plan for your move so you have somewhere to go. Make sure you start planning at least a few weeks before you start the process of selling your home for cash.
4. Selling During the Wrong Time of Year
Selling during the wrong time of year can also significantly affect your home sale. Many people don’t realize that there are good times and bad times to sell your home during the year.
For example, many people think that winter is the worst time to sell a home. This is because it is close to the holidays and the weather is often bad, which can make it more difficult to move.
If you list your home during the winter months, it can take longer to sell your home and you may have to settle for a lower price. Instead, you should sell during the spring and summer when possible.
5. Using Poor-Quality Photos
Using poor-quality photos is something that can affect the interest in your home. It is becoming more and more popular to use online platforms and technology to sell your home.
In fact, many home buying companies will make you an immediate offer when you sell your home for cash online. However, it is important that you use high-quality photos for your listing.
This will help you make a great first impression on potential buyers. You may have a beautiful home, but with low-quality photos, people may not see what your house has to offer.
While you don’t need to hire a professional photographer, make sure you use a high-quality camera and the best angles when photographing your home for your online listing.
6. Not Screening Buyers
Failing to research or screen your buyers is another common mistake people make when selling their homes for cash. If you select the wrong buyers, you may have the deal fall through or you may get a lowball offer.
Because of this, you need to learn more about the buyer before you make a deal. If you are selling to a home buying company, you must learn more about their reputation in the community.
Whether you are selling to an individual or a company, you also must have proof that they have the funds necessary to finance the deal. Otherwise, you may have the deal fall through at the last minute.
7. Hiding Issues With the Home
If you are not transparent with the issues with your home, it can potentially cause your deal to fall through. While you may want to hide issues to sell your home for more money, potential buyers will always find out about them during a final inspection.
Being transparent with these problems will let the buyer know what they are getting into and will make it less likely that the deal will fall through at the last minute.
8. Forgetting Additional Costs
There are many additional costs associated with selling a home. Failing to factor in these additional costs can make the home selling process much more stressful.
For example, you will have to deal with property taxes, commissions, and closing costs. Often, there are fewer costs when you sell to a cash buyer versus when you sell your home the traditional way with a real estate agent.
If someone is interested enough in your property, they may even be willing to pay these additional costs to secure the deal! If you choose to sell your home to a home buying company, you can ask them if they will cover these costs.
Understanding the additional costs of selling a home can also help you make final decisions when you are pricing your home before you list it.
9. Failing to Improve Curb Appeal
While you don’t want to spend too much money on repairs and upgrades to your home, it is still important that you make your home look appealing to potential buyers.
If your home doesn’t have curb appeal, it will be less likely to capture the attention of potential buyers. There are many inexpensive ways that you can improve your curb appeal without breaking the bank.
For example, taking care of your yard will make your house look well-kept and maintained. Try to add some greenery or flowers to your yard! You can also make sure your lawn is freshly mowed before taking photos for your listing.
You can also add decor to your home, paint your front door, and tidy your outdoor living areas to improve the overall first impression of your home.
10. Not Researching Selling Options
Finally, it is essential that you learn more about the different options when selling homes for cash. Homeowners often think the only way to sell a house is by hiring a real estate agent. A real estate agent can help you set a fair home price and find cash-only buyers.
While this can be a beneficial option for many homeowners, there are other options to consider!
One of the easiest options to consider when selling your home is finding a company that buys homes for cash. They will often provide you with an instant offer on your home and you can complete the process in just a few weeks.
Researching all of your options for selling a home for cash can help you get the best deal for your house. If you are looking for Wake County Home Buyers, we can help!
Need Advice for Selling Homes to Cash Buyers? We Can Help
When you are selling homes for cash, it is essential that you do plenty of research to avoid unnecessary mistakes. Avoiding each of these mistakes can help you sell your home for the best price and much faster!
Do you want to learn more about selling homes to cash buyers? We can help! Our website features expert articles on real estate and homes and can help you learn more about the process.
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