SellingAHome-JenniferChristenot

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9.) What should I do if my house has been on the market for a while and it’s simply not getting any interest? It can be extremely discouraging when you’ve had your home listed for sale for several weeks, or even months, and the buyers simply don’t seem interested. Fortunately, it’s not a hopeless situation and there are some things you can do to make your home more attractive. If buyers simply aren’t expressing interest in your home, it’s typically for two reasons: the home is simply not in good condition, or it’s priced too high. If you feel that your home should be getting more attention, and more offers, than it currently is, first take a walk around both the inside and outside of your home looking for cosmetic defects that might be turning buyers away. Maybe it’s something you missed the first time you made repairs to these small issues, or maybe it’s something you thought wouldn’t be a big deal. Either way, take care of all these issues and it could make the difference between not having any offers, and choosing the best one of a bunch. If your home is simply priced too high however, it won’t matter if you’ve taken care of all the repairs and cosmetic defects; buyers simply won’t find the price equivalent to the value of the home. Speak to your real estate agent about lowering the price. They’ll have the knowledge about how much you should reduce the price, as well as when you should. If you’ve taken care of all issues big and small around the SELLING A HOME FAQ’S AND SAQ’S | JENNIFER CHRISTENOT 12
home, and you’re sure that the asking price is fair, and you’re still not getting any interest in the home, you might want to consider taking your home off the market for at least a few weeks. When you relist it, it will appear as a new listing and when that happens, it often garners new interest. 10.) What if I want to sell my home but the value is less than the mortgage balance? Sometimes homeowners get into the unfortunate position of having a mortgage balance which is greater than the total value of their home. When this happens, and they want to sell their home, they can do a short sale. Short sales are usually very complicated because they include speaking to mortgage insurers if the home had mortgage insurance placed upon it during the time of purchase, and because it’s often dependent on the bank’s agreement to split the difference between the value of the home and the remaining mortgage payments that are due. Once all of these issues are resolved the sale of the home can be completed but short sales are often the benefit of the buyer and not the seller. The most common reasons sellers find themselves in the position of negotiating a short sale is because they can’t afford the home and need to downsize, or relocation has forced them to sell their home at a time when the market conditions may not be favorable for them to do so. 13 SELLING A HOME FAQ’S AND SAQ’S | JENNIFER CHRISTENOT
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SellingAHome-JenniferChristenot

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