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Why Can’t I Sell My House Fast?

1/13/2016

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Why Can’t I Sell My House Fast?

When Should You Reduce the Price of Your House?
I get calls from many sellers who ask me, why can’t I sell my house fast? Many Maryland home sellers stubbornly wait for that needle in the haystack. That needle in the haystack is the buyer who will offer the asking price or better on the sale of their home. These sellers have a subjective view of the value of the home, perhaps an over-inflated appraisal in the height of the market many years ago, or are unaware of true home buying/selling market conditions or other factors make them refuse to negotiate with potential DC Metro area cash home buyers such as myself.
Most of us would probably think that we are the exception and our home is properly priced. Here are several factors to consider and actual signals that it is time to lower your price.

It’s Time to Lower the Price When…

1.The House has been sitting vacant too long.Especially in the colder months, concerns about the furnace functioning properly and the potential for pipes bursting are to be considered. Once a few months have passed, it is obvious that no one lives in the house making it more vulnerable to break-ins and vandalism. Vacant houses do not sell as well as occupied dwellings. Perhaps it is because the potential buyer cannot imagine how the house would look occupied and it is less inviting to the eye.  Again, if the vacant home sits too long it can lead to break-ins, squatters, fires, crime, and ultimately a reduced value of your.  Most area city governments will not put up with vacant homes for too long and eventually the home will start costing you money.

2. You’ve had no offers. If multiple parties have come to look at your house and not one offer has been made, it might be time to reconsider the price. You may even want to contact one of the buyer’s agents to see what kept their client from making an offer.

3. You are running out of time. If you are building a new house or moving into a new house, the bridge loan can be a nightmare. Few budgets can afford making two house payments each month. A reduced price on your home is a better alternative than getting into financial difficulty. Maybe you are relocating and need to complete the sale of your house before it becomes a long distance issue. Selling to a reputable DMV area cash homebuyer that can act fast could prevent several problems down the road.

4. Your home is incorrectly priced thanks to Zillow™ – While this website considers the location of the property, is does not consider the condition of the home or the current market factors that are affecting price in a particular area. Some agents abuse the site by leaving sold properties still listed and at the original asking price, not the final selling price. Read more

5. You have a sentimental attachment to your home. If we live in our home for any length of time, we have created ‘just the right use’ for space and design that we have. Its quirks are ‘special features’ to us and may hold happy memories that have no real value to a prospective buyer. If you truly want to sell your home, you have to set aside your emotions and make wise financial decisions. This can only benefit you as you establish yourself in your new home.

6. You say you can fix it up yourself to meet inspection contingencies. Often, the repairs needed to meet these contingencies require the skills of licensed tradesmen. Shoddy or out-of-code work can make selling the house even harder. Even if you are able to fix up the problems yourself, the amount invested may be more than the value it adds to the selling price. Should any of the problems resurface after the sale, the buyer may come back to the seller for compensation. Listing a house ‘As is’, for a lower selling price, may be worth more in the long run.
If you can identify with one or more of these situations, it’s time to reduce the price. Your immediate concern is, of course, the reduced money you’ll have in pocket or to use for your future home. Consider a cash buyer for your house. Eliminate much of the seller’s cost and sale processing time. You can sometimes close within a week!

To find out the ideal price for a quick sale, contact: James at 240-412-2372



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Do I Need a Home Inspection to Sell My House

1/11/2016

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Home Inspections

The simple answer is no! The seller doesn't need to get a home inspection done to sell their house BUT,...... MOST house buyers will have a home inspection done on the house they are interested in buying.

Part of due diligence for MOST home buyers is to have a home inspection performed on the home they are interested in buying. Most Realtors will strongly suggest to their clients to get an inspection done on any house they write on offer on. 

For the home buyer,....

..a  good home inspection helps you to better evaluate the viability of a their future home by exposing unforeseen costs, and can help to avoid buying a house with serious repairs that need immediate attention.

Below are a few things you should know about home inspections.
Know the Certifications  – Home Inspectors can receive a variety of inspection related certifications from the National Association of Certified Home Inspectors and similar organizations. Some examples are-
Chimney Inspector
Four Point Inspector
Commercial Inspector
HVAC Inspector Etc.
Detail Oriented – If a home inspector is truly detail oriented, they should be able to find a variety of concerns and imperfections of varying degrees of seriousness. Hiring the cheapest home inspector can be a mistake, because you can lose that attention to detail and experience. A novice home inspector may merely recommend that a specialist (electrician, plumber) look at an issue without articulating what the issue is.
Ask Questions and Take Notes – Good inspectors will be willing to share with you their thought process and the criteria they are looking for. This  will give you a more detailed understanding of each concern.
Ask for Estimates –  Inspectors should ideally give an estimate of the cost to replace or repair the areas of concern. They will most likely be hesitant to make any formal or written estimates due to potential liability, but should provide you with a basic range. That said, you should also get a second opinion via a walk through with a contractor. Contractors should be able to provide a more concrete estimate.

For the home seller (You),....
... a good home inspection may be cause for some concern. If you NEED TO SELL YOUR HOUSE FAST,this has the potential to lengthen the time to sell. You will have to go through this process for every serious potential homebuyer. A potential buyer may want you to FIX ITEMS of concern or ask for seller concessions (money at closing or lowering the offer price). The home inspection may reveal major home defects that even you didn't know!! This could make selling to a Retail buyer impossible without you spending a ton of money to do repairs!

WHAT CAN A SELLER DO IN THIS SITUATION?!


Fortunately we at http://WeBuySouthernMDHomes.com are not your typical home buyer! We are investors, therefore we buy properties AS-IS, FAST FOR CASH!! You are never required or asked to make a repair. Upon signing a sales agreement with our company, we will have our own contractors do a quick 15-30 min walk through. This walk-through is just for our team in anticipation of US starting any type of rehab work. In fact, we love houses that need repair and/or ugly! It allows us to turn an ugly duckling of a house into a swan!

CALL US NOW, so we can make you a no obligation offer to buy your house!

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