Why is my house not selling?
- Home
- Blog
You need to sell off your property but haven’t been able to get through it. Is it because the market’s not hot enough?
While other houses get sold like hot pancakes, some houses face difficulties and that is when you need to get to the root of the problem. Assuming that your house will get snapped up at a premium price is a dreamy strategy no one can count on. Low mortgage rates, high demand and other home market trends cannot control the seller’s market entirely. There could be several reasons for which we have spawned five of them about why your house is not selling in the hot market.
1. Price is too high (or too low)
Planning a particular price for your house is tricky and needs to be strategized meticulously. If the price steeps too low, the buyers might think that the seller is too desperate to get rid of it. Whereas, when the price range is a bit over the odds, the buyers might not come around. Thus, you and your agent should analyze and discuss the value of your house.
2. Advertising photos are not appealing enough
It is believed that you have seven seconds to make your first impression and that goes for your house too. If there are only a few photos, or if the photos are not inviting or professional the buyers will swipe to the next option. Make sure that the photos look professional and highlight all the good areas of your house. Provide the buyers enough photos to look and decide about your house. You would certainly be upset if the photos affected your profit. Work with an agent who ensures your home is portrayed in the best possible light.
3. Improvising and improving the environment of the house
Yes, it’s a bitter pill to swallow that you spent the money in repairing, staging and amenities but revamping the environment of the house can lead you to getting bigger bucks. A yellow stained refrigerator will make your house look dull and stale. Of course, the buyer might think that it can be changed but that refrigerator can make them think of how well the furnace would work. Odor might seem a trivial matter to you but the buyers notice it. A short-term remedy can be scented candles and air fresheners but for problems like the smell of smoking, pet urine on the carpet, you need to get a deep clean done.
4. Problems with the title
‘Title’ is not that classy or cute name you give to your home; it is the document of ownership. Many times the deed is incorrectly recorded or a lien from a former sale is not released. This is known as a title defect. While these issues are easier to solve, sometimes a mechanics lien(work performed on the house) or other personal lien’s can be attached to a property. It is important to resolve them before considering the sale of your home. In such cases, you can contact a ‘Title company’ to help resolve this issue. This is where Title insurance comes in. Lenders typically require you to purchase title insurance to protect their interest in the property for the amount of the loan funded, however it is equally important to get a owner’s policy as well when purchasing a home, in case you decide to payoff your home earlier, you do not have to worry if there is a title defect that arises which is not because of your fault.
5. Your agent doesn’t care
There are times when there is nothing wrong with the home, the pricing is right and the home is in good condition but maybe it is your agent who is not as motivated as you are. Your realtor should socialize well and should have an appealing personality. Your realtor is your front line representative and should be interested in getting your home sold. IF your realtor does not care enough then it’s time for you to get a new realtor. There are a lot of fishes in the sea, you just need to find your right fish to get your home sold soon.
These small changes and ideas can bring in bigger bucks for you, consider them before you sell your home. If you have questions, feel free to ask us.
Post Tags : Home sale, Real Estate, how to sell your home, Rockville, Bethesda, Chevy Chase, Olney, Silver Spring, Gaithersburg, Germantown, Montgomery County, Maryland