4 Big Concerns for Home Sellers and the Answers

Dated: May 4 2021

Views: 68

The housing market is very strong right now for sellers. The only drawback is the low inventory. The biggest question sellers are asking is "If I sell, then will I be able to find a new home?" Here is the answer to that question and three other concerns sellers have right now: 

1. Will I be able to find my next home when mine sells? If a buyer really wants your home, they will be willing to negotiate on the time they take possession. You can sell your home now and then depending on the time needed, ask to remain in the home while you find your next home or you're having one built. There is the option of the buyer providing a lease-back to the seller for a pre-determined time. 

2. What price will my home sell for? This is the perfect time to maximize the profit you can make on your home. The National Association of Realtors (NAR) completed a study that shows the number of offers on listed homes doubled from 2.4 to 4.8 offers. Whenever there are multiple offers, the price of homes escalate and the potential for the home to sell above the list price increases. So if you want to get top-dollar for your home now is the time to sell. 

3. Will I need to update my home to get offers? Because of the low inventory, more buyers are willing to buy a home and do the updates themselves. You can work with an real estate professional to discuss what projects are worth undertaking that will improve the sale of your home. Instead of doing a major update, you may be able to do more cosmetic projects like painting, carpet cleaning or landscaping. 

4. Will I be able to close on my home quickly? The time it takes to close depends on how long it takes to secure a buyer and then the type of transaction it will be. Homes are staying on the market for a shorter period. In another NAR study, the average days on market has decreased to 21 days or less. All cash sales can close the fastest. The time to close on a loan has decreased as many buyers are greating fully pre-approved before putting in offers. 

Many of these concerns for sellers can be eliminated with the options that are availble in this strong sellers market. Talk with a real estate professional to explore all the options available to sell in this environment.

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Brenda Revelle-Wilson

I grew up in North Carolina. I earned my Master's degree at East Carolina University and started a career in Allied Health Sciences. I was licensed as an Audiologist and helped people to improve their....

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