Although CNY has so far proven to have shown resilience to the depressed housing market that is affecting the rest of our country, some areas appear affected and all will most likely follow suit in the near future. If you have a house for sale, what will work in making a sale in a saturated housing market?
There are many reasons that a depressed housing market makes it difficult to sell but there are two main facts that will determine how severely this market affects your sale. The most obvious fact is a lack of buyers for your property. The more important, less obvious fact is the need to aggressively position your home to sell at the maximum price possible. This is where purchasing a pre-listing inspection offers many benefits for all parties involved in the process.
A pre-listing inspection provides a written report attesting to the pre-sale condition of the property. No house is perfect, this inspection will uncover concerns you will have to deal with! Dealing with or declaring these concerns before an offer is made, takes away issues to be negotiated at that fabled 11th hour, creating a smoother closing. How these concerns are handled or declared will become an aggressive position for your home to sell. Smaller, inexpensive repairs can be completed and disclosed to the buyer, improving the positioning of your home. Other benefits are providing details of mechanical equipment and their maintenance, improvements or replacements of mechanicals, electrical or plumbing upgrades and current conditions. If there are major concerns, such as a furnace or roof covering, disclosing these can be used for asking a higher price, to negotiate the cost of repair or adjust the asking price to reflect these concerns.
If you choose to do the major repair before the sale, you will have the luxury of time. The 11th hour repair may not allow the time for comparing contractors and their bids along with their availability to complete the work under time constraints.