As anyone who lives in the area knows, the Long Island housing market is tough. For non-professionals, it’s difficult to find a house that meets your expectations and is within your price range. And, even with an experienced realtor, it’s nearly impossible to sell your home in a reasonable period of time. There are numerous factors that prevent people from making offers on your Long Island home.
1. Messy Interior
The exterior of your home may make the first impression on prospective buyers, but the interior of your home will shape their final decision. This works on a few levels.
Firstly, prospective home buyers cannot imagine other purposes for your rooms when they are already filled with your belongings. For example, the extra bed and small wardrobe in your guest room will make it difficult for buyers to envision a home office.
Secondly, the personal items within your home could deter buyers from purchasing, too. Family pictures, decorative signs and posters, and other items could make the home seem lived-in.
Finally, a lack of positive cleaning habits could present your home in a negative light. This is especially true if you own a rental property.
Unfortunately, it’s difficult to take all of these factors into account while residing in the home. Atlantic Shores Home Buyers will purchase your home even with these limitations.
2. Outlandish Asking Price
Naturally, a fair asking price is crucial to selling your Long Island home for cash. But, how do you determine an asking price? Many people use the internet to find prices for homes in the area that were recently sold. To pay for realtor costs, most people simply add an additional amount.
When you continue to lower the asking price on specific listing services, these changes will be visible on the multiple listing services website. This signals a certain level of desperation to home buyers. Consequently, they might believe that there is an issue with the home, and refrain from taking any action.
Arriving at a price point that is amenable to both parties is difficult, time consuming, and rare.
3. Requires Renovations
With a high price tag, no prospective home buyers will seriously consider a home that requires significant renovations. Few home buyers will want to invest so much money into a home, only to make even more investments on future repairs. Out-of-state homeowners are normally very reluctant to make renovations before selling the home.
Your standards for areas that require repair should be much lower before selling your home, too. The issues that you overlook every day– such as broken tiles, small cracks in the wall, and minor leaks– should be taken much more seriously. For instance, all of the minor foundation damage that occurs after flooding will need attention. When your home has many of these issues, it will be nearly impossible to sell.
4. Difficulty Competing
The price of your home should not necessarily be determined by what you paid for it, but by a few other factors.
What is the standard rate for comparable homes in the area? You can find this information online, or by talking to people who have recently purchased homes. Furthermore, take into account the demographics of people likely to purchase your home, and appeal to them. You should be able to justify any deviations from that price with specific reasons.
5. Incompetent Agent
Not all real estate agents have the same training, experience, and drive. Some agents might set the price high at the beginning of the process, and then forget to monitor any of the listings. Other agents might be too quick to lower the price. Others still may lack negotiating skills.
When selling your home for cash, none of these issues matter. We will determine a reasonable price for your home in a timely manner.
6. Poor Photography
For many sellers and realtors, photography is somewhat of an afterthought. Unfortunately, this perspective rarely compels prospective customers to attend an open house. And, this obstacle is even greater when the pictures that you do take include clutter. For your home to sell, you must use high-quality images that do not showcase any filth.
7. Title issues
This is a common issue that sellers face toward the end of the negotiations. This is especially common when homeowners acquire their homes after inheriting the house. Properties with logistical issues– such as transferring after inheritance– are far more difficult to sell than properties with clean records.
Selling your home through a realtor or independently will prove to be a challenge for everyone. And, while some people eventually find the ideal buyer, others simply cannot make the sale. A cash buyer can purchase your home in a timely manner, and without the frustration that normally comes with this process. Atlantic Shores Home Buyers will purchase your home for cash at a fair price.