Home sales are always tough no matter how you do it, it will be a mentally and physically draining process. To achieve profit try selling your house in spring or summer where people can opt for walkthroughs. Although, if this is not your plan you might want to read about these obstacles before selling your home in winter.
Accurate Pricing Can Be Difficult
Setting a realistic price is a task for homeowners as they have a sentimental value attached to it. In winters, people celebrate holidays at home that add to the emotions and make them set a high price of the property. This can be a bad thing for sellers as it will only keep potential buyers at bay. A wrong or an unrealistic price will turn buyers away making your property sit for a long time in the market. It is an unsaid rule when a house sits for a long period people become cautious and avoid buying such houses.
In this digital world, everything is achieved with just a click, similarly for listings as well. People can easily add a filter and eliminate older listings from the website, which won’t help you sell properties online. Setting a wrong or unrealistic price come with setbacks, doing a proper in-depth analysis will help in enticing more buyers.
Missing On Deadlines
There are many facets while selling your house in the winter and one of them is deadlines. Most of the sellers who list their homes in winter are first-timers. When the Federal Regulations and State and Local Laws are in the picture in a home sale it lengthens the process. The number of documents involved in a home selling process can be daunting that pushes deadlines further. Another possibility that pushes deadlines is inspections. There are multiple inspections involved like pest inspections, radon tests, etc.
Agents Come With Added Costs
There are multiple fees involved when you hire a real estate agent to evaluate the prices of your house. Furthermore, there are commissions and other added fees when an agent is in the scenario. Most homeowners agree to sign a contract with all the fees involved only to avoid the hassles of paperwork. Although, in most cases, the agents become the biggest obstacle instead of selling their houses in winter.
Walkthroughs Can Be Stressful
Constant disturbances can hamper your personal life. We know welcoming people in your house every weekend can be stressful, you always need to keep your house perfect and tidy. It can pile up even more in the holiday season as families come together for celebrations. Besides, people living in the north have it more difficult due to the snow-capped exteriors. It is almost impossible to carry out a walkthrough in such a tough climate.
Prepping Your House For Buyers
Spending extra money on your house for improvements is the last thing you would ever want to do. When you sell your house fast for cash in NY it becomes important to stage your home. In winter you might have to work harder to make your house appear more enticing and appealing to potential buyers. A well-staged house would sell faster than a house with no staging or improvements at all. Make sure you do a proper analysis before hiring a person to do improvements at your place.
What’s The Solution To Sell Property in Winter?
The obstacles stated above can cause a delay in the traditional listing, which may take up to months to close a deal. You can always consider selling your house to real estate investors like Elite Properties NYC.
Why to sell your house to Elite Properties?
- Selling your property to us will help in faster closings
- It avoids the hassles of hiring a real estate agent and paperwork
- You avoid paying them upfront costs
- Sell your house in just 3 days
When you have an easy option to sell remodeled houses then why go anywhere else? You can sell property for cash in NY to Elite Properties, we buy houses any condition. Sell your distressed house to us and get cash in return, call us at 718-865-3523 today to know more.
Do you wish to sell properties online but don’t know whom to approach? Well, we are here to suggest and help you pick the right person. Many homeowners call up real estate agents for selling their house for a bigger profit and faster sales. Although, it is advisable to check both the options before proceeding with one to know what favors you best.
You might think what is the difference between both of them anyway? The difference is negligible as they both generate revenue from the same field. Scroll down to know the difference between real estate agent and a real estate investor.
License Plays an Important Role
To make valid transactions it is important for a real estate agent to have a license. An agent requires a license of his/her particular state of service. Also, an agent will only need a license if they plan to represent someone else in the home buying or selling process. On the other hand, an investor does not require a license to run the business.
Commission Has Different Aspects
Let us say, the commission is involved in agents and investors both, but the methods for extraction is different. Real estate agents earn commission on every sale carried by them. The amount can be anywhere from 1-5% of the total share inclusive of the other costs. Agents usually rely on the sale value of a property to earn commission, high sale value means greater profit.
A real estate investor offers cash for homes, which means they offer you hard cash in return for your property. An investor has a faster pace of working when it comes to making fair cash offer and regulating the cash flow. They will sell the property at market value or flip it to another investor for lesser price. Sometimes investors sell properties in bulk to earn more with each sale, this way investors find ways to earn commission.
Maintaining The Integrity of the Brand Has Diverse Ways
Talking about the integrity of the brand, real estate agents make sure they promote their brand name to gain business. Agents maintain a good networking system with the help of websites and business cards to increase the client count. Real estate investors on the other hand do not spend a lot on marketing. They use signboards with ‘we buy ugly house’ or ‘we buy house for cash’ written on them. These signs are placed in cities or nearby yards, which can be easily spotted from a distance. Retaining the integrity of the brand may have different modes, but the motto stays the same.
Involvement of the Brokers
Real estate agents have to work under brokers rather they are employed by brokers. Once the agents are trained and have a license by the state, they are required to work under brokers for better earnings. A real estate investor does not have the need to work under a broker as being licensed isn’t mandatory.
How Elite Properties Is Better Than Any Other Agent
We covered the basic differences between an agent and an investor so you can figure out the best option for yourself. Although, there are some more differences, which will help you choose better.
Agents: Real estate agents sell home with the help of MLS also known as Multiple Listing Service
Elite Properties (Investor): We buy house individually without any listings
Agents: You’ll have to pay closing as well as additional costs to cover a sale.
Elite Properties (Investor): We cover everything inclusive of closing costs and legal fees to make your home sale process easy
Agents: A traditional home sale through an agent will take approximately 30-60 days to close a deal
Elite Properties (Investor): We close a deal in as less as 7 days
Conclusion
Picking the right person to sell your house is vital. One has to research their options before proceeding with a home sale. Elite Properties is cash buying company, we sell your house in 3 days in any condition and any location. Furthermore, we will also pay your legal fees and closing costs. Call us on 718-977-5462 or visit our website https://www.elitepropertiesny.com/ to know more about the home selling process.
We know there are many reasons to enhance the curb appeal of your house and increase its resale value. Many homeowners, although, are not aware of the reasons which may reduce the house’s worth. Selling your house needs a lot of attention either with the upkeep or the functional aspects of the structure. A buyer on the other hand will check the aesthetical appearance as well as the condition of the house.
Factors like bad location, old construction and crime rates can potentially lower the value of a house. It is a well known fact that a good house will never sit in the inventory for long time. If you are a seller and want to sell properties online, you must check the ‘5 Reasons That May Reduce The Value Of A House’.
Following are the points which may reduce your home’s worth –
A Shabby Exterior Facade
If you want to sell home fast for cash, a good looking exterior is must. Potential buyers pay attention to the exterior surfaces as nobody wants the extra maintenance cost while buying a house. As wisely put, ‘The first impression is the last impression’ it applies in home sales as well. According to a survey, potential home buyers only take 10 seconds to like property, just by looking at its exteriors. Conclusively, it is always a good to maintain the home’s exterior beauty to sustain its value in the market. By adding a fresh coat of paint, mowing, and cleaning the lawn may make a huge visible difference.
Inefficient Energy Ratings
Since 2018 energy performance certificates were introduced in the market to comprehend the energy efficiency of a house. Energy efficiency is correspondent to the pricing of a home, higher the ratings higher the property prices will be. It is illegal to sell or put your house on rent if your energy-efficiency rating is below ‘E’ on the unit. Many buyers end up purchasing the property and paying huge electricity bills reason being the poor energy ratings. A good energy rating can shoot your home’s worth by approximately 14%, which is a great profit margin for home-sellers.
Poor Locality
A locality is a compilation of good schools, hospitals, departmental stores, no crime rates and easy access to multiple places. To sell your house fast for cash in NY it becomes essential to have basic amenities accessible. A study shows how proximity to certain places can decrease your home’s worth by specific amount of percentage (sources).
- Bad school – 22%
- Strip clubs – 14.7%
- Homeless shelters 12.7%
- Cemetery – 12.3%
- Funeral homes – 6.5%
- Power plants – 5.3%
- Shooting ranges – 3.7%
If your home is around these places you’ll have to work more on the aesthetics so that no one walks past by your house. Additionally, foreclosures in the neighborhood make a bad impact on the home sale. While selling your house, appraisers look at the comparable selling price in the neighborhood. The comparable price plays an important role in estimating your property’s worth and foreclosed houses may turn down the appeal.
The Escalating Mortgage Rates
The formula of home selling predominantly depends on the mortgage rate in the market. High mortgage rate means fewer buyers whereas; low mortgage rate means more buyers. Potential buyers usually start their hunt when mortgage rates are low as the monthly repayment fits in their budget.
Home affordability decreases for buyers when the rates are high as they pay extra over the life of a loan. As a seller, increased mortgage rates don’t help you to sell your house fast. Your home isn’t valuable for buyers because they pay extra on the home as well as the mortgage repayment.
Additional Points To Consider
We’ve spoken about the aesthetics or the curb appeal of a house, which plays a huge role in home selling. There are certain things which lower your house’s worth like installing a pool, doing excessive DIYs, cluttered rooms, poor HVAC systems, etc.
There are specific things to keep in mind before listing your home in the market –
- Take care of the plumbing and upkeep
- Remove the shabby wallpapers
- De-clutter your house; get rid of the extra things in your home
- Keep the decor to minimum
- Remove the carpets which covers the whole floor
- Mow and clean the lawn, whether it’s a front or a backyard
- Get rid of invasive plant species or climbers
- Keep your pets at pay (while walkthroughs)
We comprehend a house is not just a structure it also has many memories attached to it. Suicides or violent deaths in a home can be a big reason for people to back out from buying it. It is advised to disclose little details to build transparency with potential buyers to avoid hassles later.
The Takeaway
Selling a house is a daunting task and there are multiple things which may add and reduce the value of your house. If you want to sell remodeled houses or you want to sell your house as-is, get in touch with Elite Properties. We buy houses for cash which allows you to employ the yields of the sale as per your preferences. Additionally, we buy houses in any condition that eludes the hassles of maintenance and legal processes.
If you have other queries related to the topic or you want to know more about home selling process call us today 718-977-5462.