In real estate deals, Murphy’s Law can often come true. If anything can go wrong with a deal, chances are that very well might. Therefore, it is important to do everything by the book while putting together the deal if you want to sell your house fast in Orlando.
There have been countless instances where sales have either been stalled or blown apart all together.
So Why Do Sales Go Bad Anyway?
There are several common reasons why sales fall apart. Below are the main ones:
- Buyers having cold feet at the last minute
- Crippling inadequacies and problems exposed by inspections
- Low appraisals
If these are the main reasons, then there must be fixes for these problems, right?
There are and they will be explored further below.
a) Buyers Exhibiting Cold Feet
You have met a prospective buyer and have taken him around the house. He or she seems very enthused about buying your house and living there. It is very easy to tell that they are as eager as you are to put the deal together. So they leave your house and marinate the idea of buying it. You have agreed to meet up in a few days to seal the deal and are very confident about wrapping it up.
A few days pass and D-day comes. You constantly check your phone to see whether he will call. A few minutes, then a few hours. Still no word. So you decide to call them to confirm if they will show up. They either ignore your call or hit you with the news that they are re-considering the idea of buying your house. By this time, you are devastated and want to learn more but you don’t want to antagonize them further. Your prospects are exhibiting buyer’s remorse.
It is not uncommon to have prospects backing out at the last minute.
To counter this, you should consider enlisting a real estate agent. They are well equipped to handle any fears and concerns that the prospects might have. Following their years of experience in the market, they can ease any concerns and grumblings that prospects might have.
b) Crippling Inadequacies Exposed by Inspections
The shrewd buyer wants a house that is worth the investment. To this end, they will hire a property inspector to check out the house. Their purchase is contingent on the house getting a clean bill of health from this inspector. Something that is very rare these days. Most houses, if not all, have some imperfections. However, this strict buyer is very demanding and will back out if the problems are many.
To avoid this, you should consider hiring a professional contractor or handyman to fix up the house prior to the sale. If that’s not possible, feel free to review the inspection report that the buyer has completed and offer to fix certain items or allow some of the purchase price to be allocated to that.
c) Low Appraisals
Appraisals are the basis of pricing. Once you are about to seal the deal and the prospect wants to buy the house with a mortgage, the bank will send an appraiser. If the house you are selling is valued lower than you intend to sell it for, it is a forgone conclusion that a prospect might back out because they cannot obtain the mortgage.
The beauty of appraisals is that as long as you can find a consensus with the prospect and appraiser, moving forward can be very easy. In addition, you can provide evidence to refute low appraisals by providing research on the prices of surrounding properties and recent sales. Finally, having a strong negotiator will work extremely well in your favor in deciding the value in your favor.
These are the three main hurdles you must overcome in order keep a sale from falling apart. By addressing them was shown above, you should much better prepared to sell your house fast in Orlando.
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