Selling a property can be a cumbersome and anxiety-inducing task, with numerous challenging selling situations that can quickly become overwhelming. However, almost all sellers would be better off working with an agent to overcome these difficulties. This article examines some of the challenging selling situations your Cherokee County real estate agent can help you with.
Too Much Emotion on Your Part
Many sellers, especially first-time home sellers, tend to let their emotions cloud their judgment, making sound business decisions difficult. The emotional attachment they have to their home, having raised their family there, makes rational and objective selling decisions difficult. Experienced Cherokee County real estate agents can guide such sellers to avoid making emotionally based decisions, such as overpricing or sabotaging the deal. The agent can coach you to see things from a financial perspective and approach the situation as a salesperson or businessperson, rather than a homeowner.
Unrealistic Pricing
Incorrect pricing is another common selling situation that can cause difficulties. Sellers often overvalue their homes, resulting in potential buyers skipping over their listings, leading to unsold homes on the market. This causes buyers to think there is something wrong with the property, leading to sellers eventually settling for much less than they could have received if they had priced in line with the market value from the start.
Real estate agents can help set the correct price for your home by performing a comparative market analysis. This tool looks at recent sales of homes similar to yours in your neighborhood. If you need pricing advice from a Cherokee County real estate agent, you can call 770-280-4560.
An Inspection that Finds Problems
Home inspections may also uncover problems that can be unknown to the seller. If the buyer backs out due to inspection findings, typically, they may ask for repairs or a price reduction to cover the repair costs. If the buyer and seller cannot come to an agreement, the deal may fall through.
In this situation, a real estate agent is a valuable asset, providing advice on whether the seller should make repairs or refuse. Buyers tend to make unreasonable requests, and an experienced agent can identify such requests.
A Low Appraisal
The appraisal process is an essential part of the home-buying process. The lender must approve the buyer’s mortgage loan, and this requires an appraisal to determine the property’s value to ensure that it is worth what the buyer is willing to pay for it. Sometimes the appraisal comes in lower than expected. This situation requires a difficult decision, whether to lower the asking price or find a new buyer who can make up the difference. A real estate agent can help navigate such challenges and arrive at a reasonable solution.
In summary, selling a home can be overwhelming due to many challenging selling situations. An experienced real estate agent can guide sellers to overcome these difficulties and make sound business decisions. From pricing the home correctly to handling inspection issues and low appraisals, working with a Cherokee County real estate agent is essential
Buyers Unable to Sell Their Old Home
Another common difficult selling situation occurs when a buyer can’t sell her current home. Most buyers who are already homeowners will have to sell their existing homes in order to get financing for a new home. But if they can’t sell their existing home, then they can’t buy the new one.
To avoid being stuck in such a situation, many buyers write a home sale contingency into the contract. Such a contingency gives the buyer to option to back out of the deal if they can’t sell their current home. It’s great for buyers, but risky for sellers because there’s no guarantee that a buyer can in fact sell her home. Most sellers, then, need to lean on their agent’s expertise to know whether to accept a sale contingency or not.
Where to Find a Top Atlanta Real Estate Agent
Many things can go wrong in a real estate transaction, and there is typically no shortage of difficult selling situations. But with an experienced agent in your corner, you’ll have the professional assistance you need to navigate the course to a good outcome. When you want an experienced Atlanta real estate agent, contact us at 770-280-4560.
FAQs
Q: Why is selling a home typically time-consuming and anxiety-inducing?
A: Selling a home can be stressful due to the many challenges and difficult selling situations that can arise during the process.
Q: Should I work with a real estate agent to sell my home?
A: Yes, working with a real estate agent can be beneficial because they can provide guidance to help you avoid emotion-based decisions and help you price your home correctly. They can also help you navigate difficult selling situations, such as problems found during inspections or low appraisals.
Q: How can my emotions get in the way of making sound business decisions when selling my home?
A: Emotional attachment to a home can make it difficult to make objective selling decisions, such as pricing the home correctly or being willing to let go.
Q: How can a real estate agent help me avoid emotion-based decisions when selling my home?
A: A real estate agent can provide coaching to help you see things from a financial perspective and make decisions that are based on market value rather than emotion.
Q: How can an unrealistic asking price negatively impact the sale of my home?
A: An asking price that is too high can cause potential buyers to skip over your listing, resulting in your home sitting on the market unsold. Eventually, sellers may have to lower the asking price to sell the home, resulting in a lower sale price than if they had priced the home correctly from the beginning.
Q: What is a comparative market analysis?
A: A comparative market analysis is a tool that real estate agents use to determine market value. It involves looking at recent sale prices of homes similar to yours in your neighborhood to determine an appropriate asking price.
Q: What happens if an inspection finds problems with my home?
A: If an inspection finds problems with your home, the buyer may ask you to make repairs or reduce the sale price to cover the cost of repairs. If the buyer and seller can’t come to terms, the deal may fall through.
Q: How can a real estate agent help me navigate a difficult selling situation like a low appraisal?
A: A real estate agent can help you make tough decisions, such as whether to lower the asking price or look for another buyer and can advise you on whether the buyer’s requests are reasonable. Their experience can be invaluable in these situations.