Ready to sell your house? Before you hire an agent and commit to a listing agreement for any length of time, be sure to learn about these 6 things agents may not tell you when listing your house in Prairie Village!
Listing your house in Prairie Village can be an expensive and time-consuming process. Right the marketing and finding the buyer part is fairly quick. But getting the house ready to sell can take quite a while and getting through the closing process can take 30 to 45 days. And if you are looking at expenses, between the prep work, the holding costs, and the expenses you’ll face at the closing table, you could be talking about thousands of dollars. While the process does make sense for some properties, other homeowners do better when selling their properties directly. Before you decide how to sell your house, make sure you take the time to consider all of your options!
Your Marketing May Not Be Included
When selling your house with a real estate agent in Prairie Village, it is important to know what is and what is not included with your listing agreement. Some agents cover all costs and others might ask for additional costs upfront to pay for premium services like: virtual tours, professional photography, or software to create a solid virtual tour. With fewer people out and about attending open houses, you’ll need to ensure your house has a strong online presence if you plan on putting it on the market.
Your Costs Can Add Up Fast
Listing your house in Prairie Village can come with a number of expenses home sellers aren’t always prepared for. Aside from the extra marketing mentioned above, sellers can find themselves paying for repair costs, staging, cleaning, closing costs, and expensive commissions when the house sells. There are holding costs including taxes, insurance, utility bills, and routine maintenance to factor in. Before you hire an agent to help you sell your house in Prairie Village, you should become aware of what you may have to potentially spend in order to get the price your after.
Before you start making repairs, decluttering, cleaning, and staging, we highly recommend sitting down and calculating exactly what that house costs you per week and per month. You may find that taking 2 or 3 months to get the house ready to sell is not all that economical, especially right now when finding a good contractor that can start on a project any sooner than 4 to 6 weeks might be tough.
When you run the numbers, you may find that hiring an agent isn’t worth it.
Property Showings Can Be Cumbersome
Imagine you get a call from your agent that a motivated buyer wants to see your house as soon as possible. If you truly want to sell, this means you will need to quickly get the house in its best condition, hide away any personal items, and vacate the premises as fast as possible. This isn’t a fun part of the process for home sellers, especially if they have a large family or several people living in the home.
Trying to coordinate property showings with everyone’s else’s schedule, can prove to be challenging. To make things easier, the house should be kept clean at all times, putting even more pressure on homeowners who simply want to sell their house.
As agents ourselves we have always recommended to our sellers to keep their house in show-ready condition at all times and to have a laundry basket ready to pick up before they leave for work or if they have to vacate for a showing quickly. However, with more people working from home these days, this might not be very easy to do.
Buyers Will Often Negotiate After Inspections
Once you receive an offer for your house in Prairie Village, the buyer will order an inspection to be done. Depending on the property and its condition, the potential buyer may request that you make the needed repairs before the sale is finalized. An appraisal can also require the seller to sink money into the house before the bank will approve the buyer’s loan. A low appraisal is one of the most common reasons for a sale to fall through.
Here at kcmoHomeBuyer we sell a lot of houses and most of them we have gone through and updated and made the entire home like new. Yet it never seems to fail that the inspector finds a laundry list of nit picky items that we end up spending a few thousand dollars to repair or they find something we totally missed that cause us to write a huge check for things like sewer line repairs or chimney liners.
The Sale May Fall Through
When you list your house in Prairie Village, there are a number of factors that can cause the sale to fall through. There may be a contingency in the offer stating their house needs to sell before they are able to buy yours. This means that if their sale falls through, yours will too. The sale can also fall through if the property doesn’t appraise high enough or if there are repairs required that you were unaware of. Imagine having your house listed on the MLS for several months, finally getting an offer, only to have everything fall through, putting you right back at square one. The uncertainty of listing can be almost unbearable for people who need to sell a house fast in Prairie Village.
We recently sold a house in Kansas City Kansas and after 45 days, the above inspections and additional repairs, appraisals and additional repairs, the buyers lender ultimately decided not to make the loan, costing us 45 days of time with that buyer, plus another 45 days of time finding a new buyer and getting that buyer closed. All in all, from the day of the first contract to closing with the 2nd buyer, we had 3 additional months of mortgage interest, taxes, insurance, utilities, and lawn moving.
Note when you sell to us, we close on the day of your choice. We don’t always do an inspection and if we do, we get it down within a few days of contract so we don’t waste your time and we used private lenders so you don’t have to wait for appraisals and underwriting. The only time we have delays are when the title is not clear and we work with our sellers to find the fastest way to resolve the issue so the home can close.
Your House May Not Sell
We work with many home sellers out there who have listed their Prairie Village house in the past but have found themselves right back where they were once the listing agreement has expired. When you put your property on the MLS, there is no guarantee it will sell. It’s a hot, hot market right now and for most sellers, it is the best option.
But for sellers with houses in need of updating and repairs, the entire process may take you months!
When listing your house in Prairie Village, there are a number of things that you should be aware of. Between the costs and uncertainty, there are a number of things that can become a problem for home sellers in Prairie Village. For many properties and situations, a direct sale can ultimately be the best way to sell a house in Prairie Village.