So you need to sell your home in a rush, but the sale is not going the way you though it would 6 months ago...You placed the "for sale" sign on the lawn two months ago. You have dropped the price of your house three times. You have held open houses. But, your home simply won't sell! There are many reasons homes won't sell. And, sometimes, no matter what the seller does, it seems they can't get a reasonable offer. These are some of the main reasons you can't close on the property which you have been trying to sell for several months.
The Home isn't priced correctly - The most common reasons houses don't sell quickly is because the asking price is far too high. If comparable homes are $10,000 less in the neighboring area, why would someone purchase your home? Every home has a buyer; but, that buyer comes at their price. If you have unrealistic prices listed, even if the home cost more than the market value when you bought it, you will never sell. Buyers will eventually win out in the market, and they are truly the determinants of the house prices. Therefore, if you aren't willing to come down, you will never sell an overpriced home in any market.
Your House is not in a Prime Location - No, you can't move the location of your home. And, in some situations, this is going to be the downfall for you as a seller. The old adage holds true. Buyers are looking for homes in the best locations; if your home isn't in a desirable area, don't expect the offers to come pouring in. Location rules the market. If your home isn't in the best area, it is in your best interest to take the highest asking price, even if it is $10,000 (or more), below your listing price. If the location isn't right, some homes will never sell, and the ones that do, won't sell for their true value.
Your House doesn't show very well - The shiny new homes down the street, up against your "vintage" home, isn't all that appealing to today's buyer. If the home isn't clean, if the curb appeal isn't welcoming, if the home isn't polished for the buyer, it won't sell. Sometimes the home is oddly designed. This can be a result of how the property was built, some of the rooms might be too small, or the home may not have that natural flow to it. The price and the home's condition is something you can change as a seller. So, if your home isn't selling, look at its condition, and really ask yourself if the home is in the best condition, and whether or not you would buy it (present day). If you answer no to these questions, then you need to ask yourself if you wouldn't want to buy your house, why would anyone else? It might be time to invest in making the property show well.
Increased Competition in your area/subdivision - Lets face it, some homes are much nicer than others. If this is the case, you are simply going to have to wait it out. Especially if your home is in a lavish location, with nicer homes, and updated properties. If you don't have the funds to fix your property, and help it shine through, it will be tough to sell against competing properties. If this is the case, the first thing to do it consider lowering the asking price; you can also try staging the property and holding multiple open house events. Your house may not sell for as much as you would like, but with tough competition, you are sometimes forced to modify your expectations, in order to get the home sold. Of course a realtor goes a long way in helping you sell the home as well. If they aren't constantly checking MLS boards, learning about other properties in the area, holding open houses, and doing their end of the work, your home won't sell either.
Your agent has to work for you, and has to do everything in their power to help get your home sold. So, it is up to you to constantly keep in touch with your agent, find out what they are doing, and learn about any recent offers. The best agents not only get your home sold, but sell it for the highest possible value as well. Not every home is appealing to every buyer. But, there is a buyer out there for every home. You simply have to modify your expectations, especially during tough market conditions, and in extremely competitive areas.
We thought that a few additional resources would assist you in your quest for information, so check out this guide on how to sell your house fast & this indepth look at different marketing stategies that you can use to sell your house using creative marketing that we have not discussed above.