When asked questions about the home you sell, what do you say to buyers?
With any home sale, potential buyers will always have questions they want to ask. If a real estate agent represents you, he or she usually knows the kinds of questions that’ll be asked ahead of time because they’ve heard most of them in their career. But many common questions are asked, and it will be helpful for you to know the answer to them. Potential buyers usually ask how much you pay for property taxes.
While any home might have a great sale price, the amount of property taxes can add significantly to a mortgage payment. You’ll often get questions on whether or not you have a homeowner’s association fee.
Many HOA fees are inexpensive, but these fees can be a few hundred dollars a month in some neighborhoods.
Another question that’s usually asked is what the cost is to provide electricity to the home and the price of other utilities. If an electric bill is outrageously high, that can sway a potential buyer’s decision. What one family uses won’t necessarily be what another family uses. If the utility bill isn’t fixed, tell the potential buyer an average of what he or she might have to pay.
One of the main questions buyers want to know the answer to is the state and age of the roof. While this information is usually in the listing description, buyers will still ask about it. That’s because replacing a roof can be an expensive endeavor - not to mention it can cause damage if it leaks. You might be asked if your home has a problem with insects like ants, spiders, and roaches or if it has a problem with mice.
Even if you don’t, but you did have in the past before you had the home treated, you may need to tell the buyer that. You may also get asked about home warranties. A home warranty covering the appliances and the heating and air that can transfer to the buyer is often a helpful selling feature because buyers will often want the appliances included in the sale.
Sometimes buyers will ask why you’re selling the home. It’s more of a question geared toward protecting themselves than a truly nosy one. You might get asked about the neighbors. You may have to disclose that information if you have a terrible neighbor. Potential buyers may ask you about the area - such as what the schools are like and what amenities are nearby.
Sometimes buyers will ask if you’re open for a price negotiation because they look at properties they can’t afford at the asking price but could if it came down some.
If you want the full asking price and know you’re not going to budge from that, tell buyers there’s little wiggle room in the asking price. That way, they don’t waste their time, and you don’t waste yours.
Don't wait until signing the contract to educate yourself about the intricacies of buying or selling a home. Failing to plan appropriately for one of the most expensive and significant investments you'll ever make can lead to many regrets and problems later on.
First-time buyers are especially vulnerable to making mistakes if they don't educate themselves beforehand. So even if you've purchased or sold one or more homes in the past, it's a good idea to educate yourself all over again to discover changes that have taken place in the real estate market.
Choose the type of mortgage best for you – a VA, FHA, or USDA. There's also the question of whether or not you should apply for an ARM (Adjustable-Rate Mortgage) or a fixed rate. Your real estate agent and lender should be an excellent resource for those answers.
Execute a study of real estate in the neighborhood you like and want to purchase in. Check out whether homes are selling fast or lagging on the market. If the latter is true, find out ...
Your home will have certain features that will interest buyers. Whether you’re selling your home yourself or using the service of a real estate agent, you need to make sure those features are showcased.
You’ll want to start by ensuring that whatever home listing is used draws attention to those features. While an agent automatically knows what to put in the listing, you might not. But some things that are considered special features are what you should highlight. You’ll need to mention where the home is located and what it’s near. For example, some young couples with school-aged children are looking for homes close to good schools, so you’ll want to highlight that. Others are looking for homes close to other perks like shopping, the downtown area, etc.
You’ll want to highlight the amount of square footage that you have. Not only should you or your agent do this in the listing, but you must highlight it in your home. That means removing as much furniture as you can feasibly ...
I know this topic has been addressed by me before, but I thought I would do a quick reminder post. Staying competitive is essential now that prices are starting to go down and buyers are coming back into the market.
1. Not being realistic about market conditions: Pricing the property too high is one of the most common mistakes made by sellers. This can lead to the property sitting on the market for an extended period, resulting in missed opportunities and wasted resources. Instead, sellers should be aware of market conditions and price their property accordingly. Failure to do so can result in a longer time on the market or a lower sale price.
2. Neglecting home repairs and updates: Another common mistake is failing to make necessary repairs or updates to a property before listing it for sale. This can result in a lower sale price or a longer time on the market.
3. Over-personalizing the property: Some sellers may personalize their property too much, making it difficult for buyers to envision ...
