4 Practical Tips to Sell your Home Fast for Top Dollar
By Bin Lu Ryter, Coldwell Banker Residential Brokerage and Commercial NRT
1. Repairs left undone erode your final proceeds more than the upfront cost.
The reason for this: Once the needed repair becomes evident, the potential buyers will amplify their fears and uncertainties. Buyers can be emotional when dealing with the largest purchase of their life. They often are cash-tight after making a down payment and have reduced ability to pay for repair work. As it is difficult for them to estimate the actual repair cost, they will tend to demand excessive credit.
2. Overpricing your home helps sell your neighbor’s house faster.
The general buyer pools are looking at the houses within their pre-approved price range. If your house is priced too high then it will be excluded from some buyer group’s search criteria. Your house will be more likely to promote the sale of larger and more appealing homes in the neighborhood with better features.
3. A well maintained house sells fast and for more.
Imagine this: The buyer is going to hand you a large sum of money to exchange for your property. A well maintained house provides the potential buyer with peace of mind, which results in the buyer’s willingness to pay more for it. Better fixtures in the house tend to lead to more buyers’ appreciation.
4. The first few weeks of a new listing shines.
A fresh listing draws attention from both fresh buyers who have just started to look as well as those who have looked for a while. Once a house has stagnated on the market it becomes stale and often stigmatized as to why the house hasn’t sold yet. The potential buyers will assume that either your asking price is too high or that your house has some kind of problem, or both, and therefore they will demand a discount. The buyers will take advantage of you while you are getting desperate.