In our latest post, we discuss some of those things many homeowners don’t know about selling a house in New Jersey. Make sure you know what to expect before you list with a New Jersey real estate agent. Setting the right expectations is a must if you want to avoid disappointment.
Do you want to sell your house in New Jersey? If you are thinking about listing, it’s important understand the process thoroughly by asking the right questions to a prospective agent. For some home sellers, listing their property can be an arduous process if handled incorrectly.
- Expect the Unexpected With Regard to Repairs
Before listing a house with a real estate agent in New Jersey, there might be a few obvious repairs needed to be made before putting the house on the market. However, when a potential buyer comes along, they will pay to have the house inspected and appraised. Their offer will likely include contingencies, allowing them to back out of the sale if it doesn’t appraise high enough or if there are larger repairs discovered after the inspection has commenced. If repairs are required, the potential buyer will turn to you to fix them or to offer a reduction in price. When all is said and done, you may be facing additional repair after the inspection has been completed. Expect this to be the case, and be prepared either to give concessions, or have the right resources in place to be able to fix the requested repairs.
- Ask About Marketing Costs
When you work with a real estate agent in New Jersey, you’ll need to know exactly what comes with their service. Some agents list and wait, while others are full-service, and may spend a decent amount of their own money to create more exposure for your property. If you decide to list your house in New Jersey, look for a premium agent or be prepared to pay for some of the marketing costs yourself. Professional photography, staging, signage, premium ads, and open houses are not always included with the listing. Many sellers can pay for these services themselves in order to sell their house for top dollar in the most reasonable amount of time.
- Be Realistic on Timeframes
Just because your neighbor’s house sold in a week, doesn’t mean yours will too. When you list your house on the New Jersey MLS, there is no way of knowing when the house will finally close. It could be days, weeks, or months. For some sellers, they may not find a buyer at all and are forced to take their home off the market. Listing a house in New Jersey can be very frustrating for homeowners who want to sell their houses quickly. It can be difficult for families who are forced to live in a limbo state while waiting for a buyer.
- Buyers Can Fall Through
Imagine waiting months to find the right buyer, only to have the sale fall through at the last minute. This happens more than you might think due to low appraisals and required repairs. Buyers will typically have contingencies in their contracts that allow them to back out of the sale if the appraisal comes back low or if they find major problems after the inspection. You may still be able to sell if you lower your price, but after doing so much work to list it, many sellers aren’t willing to drop the price as much as the buyer would like them too.
- Be Flexible with Showings
If someone drives by or reads about your house and wants to see it right away, it’s in your best interest to let them. At the end of the day, finding the right buyer can be a numbers game. When listing your house with a New Jersey real estate agent, you’ll need to be prepared for showings that may be inconvenient for you. You’ll have to make sure the house is clean and show ready while making yourself scarce while the home is being shown. Many sellers are stressed out about the idea of strangers constantly in their family space. However, the last thing you want to do when trying to sell your house is to turn away potential buyers!
Selling Your House Directly…
You may think that you need to hire an agent, list the house, and wait for a buyer, however, this is not always the case. There are many ways to sell a New Jersey house. A direct sale is the best way for some New Jersey homeowners to sell their homes. When you consider all of the listing costs, holding costs, and commissions, working with the right property buyer can be the most beneficial choice. You’ll be able to avoid the costs, the showings, and the waiting.
Learn more about the many things homeowners don’t know about selling their New Jersey homes! Contact us today!