What to Do When You Can"t Sell Your Home
Many people think that home-selling is very easy that everyone can do it.
It's true that this thinking was right a decade ago, but with today's economy, I just don't think so.
When the economy was thriving, no one has really struggled into finding high-paying buyers.
In a matter of fact, most people didn't need a professional agent who can run a good marketing campaign for their properties.
However, time has changed now.
With home values dropping every day, people are finding a great difficulty buying their properties even if their homes are in good shape and well priced.
One of the reasons that made people avoid buying properties anymore is the financial instability everyone is going through.
People now prefer to rent than to buy because they don't want to pay all the expenses of keeping a house.
While there are literally hundreds of reasons why your home isn't selling, here are few tips to help you benefit from it when you find it's not selling: 1- Rent it: In today's economy, renting is more suitable than buying for most people.
If you make sure that you're going to get a great deal out of renting it, then you should go for it as it will cover all of your mortgage payments, taxes and insurance as well.
Renting could just be temporary until you can find a good buyer to your property.
The worst thing you can do is waiting to find buyers and not benefiting from the cash flow that your homes could give you.
2- Why it's not selling: While the previous solution is when everything is perfect, and yet you still can't sell it, this one requires you to see why it's selling in the first place.
If you already got potential buyers who didn't proceed with the deal, then this should raise a red flag as your home could be missing something.
If you ask these buyers why they didn't proceed, they will tell you exactly whether your home is overpriced, needs a lot of fixing, in a bad neighborhood...
etc.
If the reasons are something you can deal with, you should start fixing what's fixable immediately as i always advise sellers to prepare and fix their homes before putting them in the listing.
If you need quick cash, and you find that the reason behind the property not selling is that it's simply overpriced, then you should lower the price and offer an exceptional deal which no one can refuse.
3- Save yourself the headache: If you don't want to bother yourself with all the details, you could just hire a professional realtor if you could afford it.
He or she will know exactly what to do in order to sell your property with the maximum profit.
It's true that this thinking was right a decade ago, but with today's economy, I just don't think so.
When the economy was thriving, no one has really struggled into finding high-paying buyers.
In a matter of fact, most people didn't need a professional agent who can run a good marketing campaign for their properties.
However, time has changed now.
With home values dropping every day, people are finding a great difficulty buying their properties even if their homes are in good shape and well priced.
One of the reasons that made people avoid buying properties anymore is the financial instability everyone is going through.
People now prefer to rent than to buy because they don't want to pay all the expenses of keeping a house.
While there are literally hundreds of reasons why your home isn't selling, here are few tips to help you benefit from it when you find it's not selling: 1- Rent it: In today's economy, renting is more suitable than buying for most people.
If you make sure that you're going to get a great deal out of renting it, then you should go for it as it will cover all of your mortgage payments, taxes and insurance as well.
Renting could just be temporary until you can find a good buyer to your property.
The worst thing you can do is waiting to find buyers and not benefiting from the cash flow that your homes could give you.
2- Why it's not selling: While the previous solution is when everything is perfect, and yet you still can't sell it, this one requires you to see why it's selling in the first place.
If you already got potential buyers who didn't proceed with the deal, then this should raise a red flag as your home could be missing something.
If you ask these buyers why they didn't proceed, they will tell you exactly whether your home is overpriced, needs a lot of fixing, in a bad neighborhood...
etc.
If the reasons are something you can deal with, you should start fixing what's fixable immediately as i always advise sellers to prepare and fix their homes before putting them in the listing.
If you need quick cash, and you find that the reason behind the property not selling is that it's simply overpriced, then you should lower the price and offer an exceptional deal which no one can refuse.
3- Save yourself the headache: If you don't want to bother yourself with all the details, you could just hire a professional realtor if you could afford it.
He or she will know exactly what to do in order to sell your property with the maximum profit.
Source...