themoneyshed
The process of selling a house is a little different for everyone who goes through it. Some people manage to sell right away, some people manage to get 20% more than their original sale price, and some people have to wait months for the market to develop into their perfect selling arena. And because of that, it’s important to ensure that your own market expectations are realistic! Which means you need to ask yourself some questions.
How Long are You Willing to Wait for a Sale?
When you begin proceedings to put your house on the market, there’s a good chance you’re living with the idea that it’ll be a couple of weeks and your home will be sold and you’ll be able to move on! However, when it comes to the reality of an ever changing market, you could be waiting around for months, and having to keep your home well kept and ready for sale in the meantime.
On average, it takes 4.2 months to sell a home, from the day people know it’s for sale to the legal conclusion where all paperwork has been signed and accepted. Of course, a lot of different factors feed into this, and typically, the higher your asking price the longer it takes to find a buyer. However, if you’re in a hot spot real estate area, it could take far less time!
How Much Complication Can You Take?
How simple do you think selling your house will be? Because if you’re not expecting complications down the line, in the form of taxes and other fees, deposits and title issues, and even just home viewings and inspections, you’re going to need to adjust your expectations.
Indeed, when it comes to Conveyancing, things can get very complicated! Many people didn’t even know they needed to work with a solicitor in order to buy or sell a house, but having a legal professional on your side helps to keep bumps out of the road. Paperwork can be hard to draw up off of your own back, and you’re only one person with 24 hours in the day!
How Much are You Willing to Negotiate?
Finally, you’ve got to be sure you’re willing to negotiate on the price point, and in either direction. A lot of buyers will put in lowball offers to catch your attention, and if you’re willing to move slightly their way, they’ll snap up the second price you give them like a shot.
Of course, if it’s been a while since you put the house on the market, or you’re trying to sell as fast as possible, you’re much more likely to accept a lower offer. So take your time here, and think about what’s happened during the selling process to better inform your decision.
Many people walk into selling their house with quite a few misplaced ideas in their mind, and making sure you let go of these misconceptions is important for the sale process!
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