Reasons Why Your Park City Home is Not Selling
Your Park City home is on the market but you have not received any offers. Here are some potential reasons why it may not be selling.
If your listing price is too high the chances are any potential buyers will be put off. Don't forget if a buyer is working with a Realtor, before they make an offer the Realtor should perform a CMA. The results of this CMA will tell them if your home is comparably priced compared with other similar properties in the neighborhood. If its overpriced buyers will stay away.
If your home is overpriced its probably down to one of 3 reasons.
- The seller believes their home is worth more than it actually is. Selling your home is a very emotional process and sometimes regardless of a Realtors advice, a seller will insist that their home be listed at a higher price.
- The Realtor bought the listing. This is where the Realtor deliberately overvalues a home in order to get the listing. Then at a later date they ask the seller to lower their price.
- Home prices have fallen since your home was first listed. Your home may have originally been listed at the correct price, but since then prices have gone down while your homes listing price has not changed.
Remember all homes will sell if the price is right.
Home is Untidy
Always ensure that your home is tidy, de-cluttered and clean for every showing. Buyers can be put off by the slightest thing, including an untidy home.
When tidying your home remember the areas that are not immediately visible or obvious. For example, ensure that your closets, drawers, cupboards, sheds, garage, basement, countertops and attic are tidy and free from clutter.
Your aim is to provide the buyer with a blank canvas, so they can image how the home would look with their furnishings.
Red Flag Repairs
Most Park City buyers don't want to do any work when they move into a new home. So when they are walking round your home and see work that needs to be done an immediate red flag is raised. So before you list your home always try and fix all those jobs your have been meaning to do over the last few years. Remember even if the buyer does not spot the problem the chances are it will appear on the inspection report. So anything you can fix now will result in a smoother ride further down the home selling process.
Sold As Is
Sometimes sellers will list their Park City home as 'Sold As Is'. This means regardless of what the inspection report uncovers they are not prepared to fix any problems. The problem with this approach is that buyers think because a property is 'Sold As Is', there must be a problem with the home and are immediately put off. So the chances are the only people who will be interested in your property are investors, who tend to put in low ball offers.
If you know a specific problem exists with your home, then one thing you can do is explicitly exclude that repair from the contract. That way the seller will not have to address the issue in the home inspection and the buyer knows exactly what they are getting in to, rather than a big 'I am not going to fix anything'.
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