Selling a House Can Be A Challenge
Selling your house quickly can be even more difficult and stressful. There are many reasons you might need to sell in a hurry: a job transfer may be forcing a quick relocation, you may have inherited a house and can’t afford the mortgage, taxes, insurance, and utility bills. You might even be more likely to make mistakes when you are in a hurry! Here are 5 mistakes to avoid when trying to sell your house fast.
1. Don’t Let Your House Sit On the Market!
One mistake many people make is starting at a high price just to “test the market” or “see what you can get”. The problem is that when a property is priced far above market value, serious buyers won’t even consider it. The first few weeks a house is on the market are critical. If you don’t get serious interest in the first few weeks, you can create issues down the road. Once a house has been on the market for a few weeks and it’s not under contract, buyers begin to get suspicious that there is a problem with the house that has caused it to sit. Even dropping the price may not fix the issue, because buyers may see that as an attempt to compensate for the unknown issue. Which leads us to the second mistake…
2. Don’t drop the price bit by bit.
If you did list your house too high, and now want to attract buyers, you might be tempted to drop the price by $1,000 or $2,000. Small price adjustments will rarely entice serious buyers to consider your property. If you want to attract attention that will move your house quickly, you need to execute a dramatic price drop. That will get buyers in the door, and may benefit you even more if a bidding war breaks out with multiple offers.
3. Not Being Properly Insured.
When you are selling a house, you will (hopefully) have a constant stream of people coming through the house to view it. Make sure you are well-insured in case someone injures themselves while in your house and decides that you are responsible. You also need to make sure that there aren’t any obvious hazards, such as exposed electrical wires, leaky plumbing that can cause slippery floors, unsafe pools or fountains, or dangerous pets.
4. Don’t Hide Significant Problems.
Most houses have some issues, sometimes cosmetic and sometimes more serious. Whatever you do, don’t try to hide serious problems with the house. Almost every buyer will have a professional home inspection performed, which will turn up almost any issue. If it appears that you are trying to hide something from the buyers, they may back out of the deal. Even if you are successful at hiding the issue until closing, the discovery of a hidden latent defect could have serious ramifications for you even after closing.
5. Not Preparing Your Home Properly for Sale.
Unless you are selling your home “as-is” as a “fixer” or “handyman special”, you want the house to look as good as possible. Make sure that the home is thoroughly and professionally cleaned, including washing the windows and siding, scrubbing the bathrooms, dusting those hard to reach light fixtures, and having the carpets professionally cleaned. In addition, consider staging the home so that the buyer can see how furniture will fit. You also want to remove any personal items such as family photos and clutter. Also make sure that you remove any items that could possibly offend a buyer, such as religious items.
Want to Sell Your House Fast and Avoid All the Hassles?
You can see that there are many pitfalls to avoid and work to be done when trying to sell your house fast. How can you avoid this plus the commissions and fees associated with a traditional listing? If you really want to sell your home in Colorado fast, contact a reputable local investor. We work with homeowners to provide solutions that work for them. We can close when you want, we require no work to be done before you leave – we can even take care of unwanted personal property, and you don’t need to use any money out of pocket.
One of the most important services an investor can offer is a quick and easy transaction. We are cash buyers, so we can close as quickly as you need to. If you want to avoid commissions and headaches, reach out to a local investor to explore your options.