The Monarch Group Real Estate Blog

Things to Know Before Selling Your Home

We think it’s safe to say that when selling a home, there’s a chance you’ll run into some bumps along the way.  There are normal complications that can be avoided with an experienced agent, but no agent has seen it all!  Before you decide to list your home, make sure you’re aware of the common problems people face when they try to sell:

The home doesn’t appraise.

  • If a buyer plans to buy your home with borrowed money, be prepared to go through the appraisal process. Be extra prepared to lower your price if the sales price comes back too high.
  • How to avoid this? Hire an honest agent who gives your the real numbers, not the highest ones. An agent who is experienced knows the process well, and knows you will most likely have to face an appraiser.

The home comes with a “past”.

  • And we aren’t talking about age. A title search will be preformed when someone tries to purchase your home which will provide any liens, missing permits, or other blemishes that can halt a deal.
  • How to avoid this? Hopefully you bought title insurance when you originally bought the home, which will fight off any claims to the home that aren’t yours. If you didn’t, make sure your proactive in clearing any title issues with the closing attorney/title company.

 The home needs work.

  • We mean major work. Since the inventory of homes for sale is larger than we’ve seen in recent history, buyer’s have more to choose from. This means buyer’s have a better chance of finding a home that’s “move-in ready”  AND priced to sell. Not to mention that some loans require repairs be made to the home, and it they are not made the loan will not be approved.
  • How to avoid this? Decide what’s more important. If you want a higher contract price be prepared to spend money on updates and upkeep. If that’s not as important, price it to sell quickly. An experienced agent will be able to help you decide which route is better for you.

All of these problems can be easily avoided with guidance from a trusted Realtor! Also, be sure to do research on your home before you get ready to list. Feel free to contact us if you have any questions about selling your home

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