Month: June 2022

I know you hate to imagine swallowing 10 tough When Selling a Home handle the Tough thingspills when you’re thinking about selling a home, yet it happens. There can be some tough pills you have to deal with once that sign goes in the front yard and the sale doesn’t go as planned and you weren’t prepared for the outcome.

Handling the tough pills is the discussion here. The tough pills and how best to resolve them. You’ll be glad to learn now instead of learning the hard way, while you’re in the midst of selling your home. Swallow hard and let’s jump in.

Don’t expect dollar for dollar return from your lovely upgrades
Buyers will only pay what the local Real Estate market will bear and not what you spent. Unfortunately when you over improve, you risk losing the money you invested. Therefore, choose wisely.

A minor Kitchen remodel will recoup roughly 80% of your costs, which varies according to the area in which you live. An upgraded Kitchen however, can certainly have added appeal to bring in more interested Buyers. Simply know you cannot add the cost of the remodel to your home’s selling price.

Don’t let this discourage you however, as there are a few home feature replacements that will recoup over 100% of the cost. Now that’s good to hear. This good news will offset the fact that most will not come in at 100% coverage.

To brighten your mood, if you replace your front door with a new steel replacement door you can look at recouping your cost nicely at about 110% of the cost. You liked that good news, I’m sure! It’s short lived, as I must continue with the 9 other tough pills to swallow when selling a home. Let’s keep going. We buy houses in Jackson Ms.

Just because your neighbors home sold for such and such doesn’t mean your home will sell for the same amount of money
If I could tell you the number of times I’ve heard homeowners spout out that their neighbors home sold for $350,000 so their home should too, as they just love the home that they’ve lived in for the past 15 years. Little do they know that their neighbors home just had a complete Kitchen renovation. Do they think a Buyer will pay the same price for the home they’re trying to sell that has an outdated Kitchen with laminate countertops and cabinets? I bet you know the answer to that. Emotional attachment routinely gets in the way of making an educated decision regarding the home you want to sell. You simply need to trust the advice of a Real Estate professional who sells homes for a living, like I do.

Whether it’s the first home you’ve fallen in love with or the second, third or more, your feelings of overwhelming joy can most certainly have an effect on the price you are willing to pay for a home.

Overwhelming joy can keep you awake at night envisioning yourself in this new home that would be just perfect, you imagine. Oh, if you can only get this home, you think, your life will be perfect!

If you’re wild about the home, don’t learn the hard way by losing the home you love to another Buyer, because you thought you’d lowball the Seller. By determining the home’s value as discussed above, you should have a good idea of where your offer should be and are you really willing to risk what you love for your lowball offer? In fact, depending upon your local Real Estate market, your love of the home and any other interested Buyers, it could warrant an offer above fair market value. Yes, that’s correct. This is commonplace in a Seller’s market when homes are priced right and there are several Buyers vying for the same home; there aren’t enough homes to satisfy the wants and needs of home Buyers.

What is your moving timeline?

Do you have all the time in the world or is your clock ticking? Perhaps you’re just starting to look for a home and you aren’t in a rush, as you don’t want to have regrets and want to avoid the horror’s of home buying pitfalls that you’ve likely read all about.

If you’re not in a rush then you likely may be afforded the opportunity to save on your home purchase. It isn’t a guarantee that you’ll save if the Seller is looking for a fair value for their home, yet if you’re willing to risk the home because your clock isn’t ticking, then you may win the prize of paying a bit less than a home’s value, if you’re willing to risk losing the home to another Buyer or an outright Seller rejection of your offer. You’ll find this strategy can work for you as a home Buyer if the Seller is on the flip side of a coin in that their clock may be ticking and need to sell.

What if the other scenario holds true for you and your clock is ticking and need to find a home to buy now?! You’re going to have to rely on your Realtor to provide you with the details of the home’s value as discussed above, in order to make sure your offer is fair market value so you have a good chance of the Seller accepting your offer. Yet, what happens if the Seller’s vision of their home’s value is way above market value, you love the home and your clock is ticking? In other words, the home’s list price is above market value. Then you forget this home and go on to the next home, unless your Realtor can discover that the Seller is indeed willing to negotiate down to market value or a market value offer on your part would be considered by the Seller. If not, it is time to search for a new home as time isn’t on your side. We buy houses in Manhattan Ks.