Selling your home is a very emotional journey. There are so many variables at play that it can be easy to get nervous. Today we’re going to talk about 7 solutions to the things that scare sellers most.
It may surprise you (but probably not) that finding a REALTOR is one of the biggest things that scare sellers. It makes sense. You are trusting a big (if not your biggest) investment to someone else. There’s bound to be stress involved.
Do your research. Check into every REALTOR you are considering. Visit their website, reviews, Facebook, Instagram, YouTube, and TikTok accounts. Do you like what you see? Interview your top agents to see how your personalities fit.
Price is usually the most important aspect to people when they are selling their home. That’s why it is second on the list of things that scare sellers most. No one wants to leave money on the table. Pricing your home correctly can be the difference between being able to get your dream home when it comes on the market and being stuck wishing you could buy it.
There are 3 strategies for pricing. It is up to you to decide which method is best for your situation. It is the the REALTOR’s job to suggest what price best fits your strategy. Ultimately though, you are the one to decide what the price will be.
- High price – most profit but also the most time to sell
- Low price – potentially the least profit unless you get a bidding war but takes the least amount of time to sell
- Average price – average profit and average time to sell
Timing is often very close behind price in terms of importance to sellers. Getting the timing just right between selling your current home and buying your future home is another one of the major things that scare sellers. It can be tricky. Do you buy first or sell first? You don’t want to be homeless, but you also don’t want to have 2 mortgage payments.
Selling first is typically considered the best option because then when you write an offer on a house it won’t need to be contingent on you selling your current home first. Therefore, you will have a stronger offer and be more likely to win the house that you want. There are many lender programs available now that will “pre-buy” your home for a fee so that you can buy your next home without the contingencies. Many will give you up to 6 months to sell your old home after you close on your new one without having to pay a second mortgage. Talk to your lender to see what options they have available for you.
#4 The Transition
This is one of the big things that scare sellers who are relocating to a completely different area. Most people get nervous about change and new things. This is amplified when everything is new i.e. new home, new area, possibly new job. These sellers are usually not very familiar with the area or the people in the area. So much newness can make people feel anxious and isolated.
But even when you aren’t moving to a new area, the transition of moving everything you own from one house to another in perfect timing is challenging.
- Rent Pods or a storage unit. This will help declutter your house for showings and help you get the packing and moving process started.
- Join some facebook groups ahead of time. Then you will at least have a few contacts in your new area.
- Request to have possession after closing if you are worried about having enough time to get into your new home.
- Rent out an Airbnb if you need some extra time in between closing on your old house and closing on your new one.
#5 Prepping your home
Prepping your home to sell can be overwhelming. Especially if you have a lot of prep to do. Even if you don’t, perhaps you are unsure what all you should be doing to get your home ready for potential buyers.
When prepping your home to sell, be sure to do the following
- Deep clean
- Freshen up landcaping
- Power wash
- General Maintenance
- Update kitchen and bath (possibly)
- Create a welcoming entrance
- Clean windows
Inspections make everyone nervous buyers, sellers, and REALTORs alike. Inpections are things that scare sellers the most because they are relying on this house to close, often because they have already put in an offer on another home. They worry that something will come up that will either scare off the buyers, or the buyers are going to ask for expensive repairs. That’s the fear for all parties involved, but for sellers, the stakes are higher.
Knowledge is power. Knowing your options if there is an issue on the inspection may help to take some of the fear out. If there is an issue you and the buyers will be able to work out any one of these 5 R’s solutions.
- Renegotiate the contract
- Repair the issue
- Replace the item causing the issue
- Reimburse the buyers so they can fix the issue
- Rescind contract
If knowing your options doesn’t help your anxiety, then try taking a proactive approach to the inspection and repair any items that you know may be addressed by the inspector.
A bad appraisal can wreck not only the deal on your old home, but it can have negative consequencesa for the deal on your new home as well. Essentially, whatever the appraisal says is the value of your home is the max price you will get for your home unless it is a cash deal or there is an appraisal guarantee offered by the buyers.
There are 2 main ways to avoid an appraisal issue
- Price appropriately
- Request an appraisal guarantee be added to the contract before you sign the offer
Hopefully these solutions will help you to feel less stressed when you are getting ready to sell you home. If not, then give us a call. We’d love to talk you through it!
Thanks for reading!
MI Home Team REALTORS