Are you planning to sell your home? You must have a lot of questions on your mind. And that’s a good thing. It helps discover the challenges that you might face during the process and look for solutions to overcome them in advance. We’ll save you some breath and answer some FAQs asked by home sellers to help you get started:
When is the best time to sell my home?
Typically, the spring is considered an ideal time to sell your home. Due to longer days, cozy sunshine, and precise weather conditions, buyers prefer this period to search for houses.
However, there isn’t exactly a “right time” to sell your property. Every real estate market differs in terms of demand, supply, economic conditions, among various other factors.
Moreover, you can always wait out the busy season and make upgrades in your home to sell it for a higher price. You should discuss your plans with a realtor to make an informed choice.
What should I disclose to potential buyers?
The one-word answer: everything.
You should present your house in a favorable light, but never attempt to hide any damages or defects from potential buyers.
More often than not, the problem will surface during the home inspection and potentially cost you the deal. Moreover, acting in bad faith can subject you to potential lawsuits.
Therefore, it’s better to be transparent and disclose all the information pertinent to your home that can influence the deal.
What is the difference between a list price and sale price?
The difference between a list price and a sale price is pretty straightforward. The former refers to the price a property is listed for sale while the latter is the price a home is sold at.
It can be tricky to determine the correct listing price as it’s influenced by many factors, including demand, supply, property condition, and more.
Your real estate broker will evaluate your residential property and put a list price that will attract buyers without compromising on profitability.
What is a buyer’s market?
A buyer’s market refers to a real estate market where the supply is higher than demand, leading to declining home prices.
As the name suggests, it’s favorable for buyers who can take advantage of decreased demand and negotiate a better price for a property.
Some factors that contribute to buyers’ market are increasing interest rates, high inventory of homes, and natural disasters.
If you have more questions or looking to sell your real estate property in Fayetteville or Fort Bragg, Phillip Fehler Broker of Fathom Realty can guide you. From a free home evaluation to expert realty services, you can enjoy an extensive range of professional residential real estate services at competitive rates. To book an appointment, call at (910) 381-1341 today!