What would you need to do if you were preparing to sell your house in Dearborn, Michigan? You might think of finding out the amount you can make from the sale and where to begin making repairs. You might also get a professional to clean your house thoroughly, and a reputable real estate agent to guide you. You might also have to prepare all the legal documents, list your Dearborn home, and then wait for buyers to come knocking on the door.
However, even after doing all the above and more, you can stay for months without a single potential buyer expressing interest. This situation causes most home sellers to begin panicking, which should never be the case. It will please you to find out a few things you can do to improve your chances of selling the house sooner.
Improve the Curb Appeal
Everything might look good on paper; however, the reality may be quite different. Prospective buyers may feel let down when they check out your house while driving past. You can prevent this outcome by taking a good look at your house with fresh eyes. Maybe you need to mow your lawn or slap a fresh coat of paint to your home’s exterior. The garage or the interior of your house may need some work done as well?
There is no shortage of things you can do to increase your property’s curb appeal. When it comes to making such improvements, you need to understand that it is not about you anymore. It is about improving its appearance for prospective buyers.
Determine the Right Price
For all the historical data available and the research you conduct, determining the right selling price is more of an art rather than a science. Just because another property in your neighborhood sold for a specific price does not mean you will sell yours for a similar price.
It is difficult to predict the direction the wind will blow when it comes to buyers’ whims from month to month. Reducing the selling price will have an impact on prospective buyers’ perceptions. If you are yet to get any offers, you may need to consider losing a little money to make a sale.
Rent Out Your Dearborn House as You Wait for It to Sell
If your house is yet to sell even after months of being on the market, you need to consider certain factors, such as investment. You will lose potential income each month your property is on the market if you choose not to rent it out. Therefore, if you already have a new home or can find alternative accommodation, consider renting out your house in Dearborn, Michigan to earn some income in the interim.
That said, you need to ensure that your renters understand your intentions to sell your property. They should be able to make space for prospective buyers to stop by and check out the house. Consider everything that comes with being a short-term landlord.
Consider A Lease Option
A lease option purchase is another way to attract buyers instead of the typical outright sale. This option opens the door for prospective buyers who may not get financing or make a cash purchase. With a lease option purchase, the buyer gets to move in and make lease option payments, which tend to be higher than rent.
As the seller, you will get to earn an income in the interim. When the buyer fulfills the initial terms of the contract, he or she will get to purchase the house at a predetermined price. The price is usually lower than the original asking price. However, if you choose this option, you will need to work with a good lawyer and agent.
Decide Whether to Stage
When it comes to selling your property, it is all about what potential buyers think is best. It is not what you think is best for the property. For example, if you are not very good at decorating, consider hiring a professional to help you stage your house. He or she will assess your Dearborn home and replace some of your décor and furniture with the kind more likely to attract potential buyers. The aim is to help potential buyers picture themselves in your house.
Consider A Short Sale
A short sale is not what home sellers hope for when they list their homes. When things are not working out as expected, try to get your mortgage lender to accept money from the sale. The amount does not meet the total outstanding value of the loan.
For mortgage lenders, getting something smaller is better than nothing. If the market does not look friendly to sellers in the Dearborn area, a short sale will help you find a good price, and the lender will get money. However, this will mean less income for you after you pay the mortgage.
Change Your Agent
The relationship between real estate agents and their clients is a delicate dance. You can hire an agent based on what you know at the time; however, things do not always work out as people expect. In certain situations, your agent may be the reason why your house is not selling. There might be something about him or her that is turning prospective buyers off, or his or her abilities may be inadequate.
Your agent may be unprofessional. Whatever the problem with your agent, you need to determine whether it would be a good idea to sever your relationship with him or her and hire a new agent. Instead of feeling frustrated and discouraged, you should do some research to find other real estate agents in your area. Go with a sure bet by hiring a real estate agent who knows how to deliver results.
Sell Your Property As-Is
Most of the options discussed above have their pros and cons. Some mean earning less than you expected or staying on the market for much longer. However, there is another option to consider when your house is not selling. You can sell your property to an investor, such as REIOutpost LLC, who will buy it as-is.
We will give you a fair cash offer to help you sell your house quickly. This will save you from having to do expensive and time-consuming repairs and upgrades. It will also allow you to move on with your life. Furthermore, you will not have to deal with complex legal situations or rely on lease option tenants, lenders, or renters to close the deal.
Reputable companies like REIOutpost LLC are happy to present you with an offer that will help you sell your house in Dearborn, Michigan faster and find your next home.