Sep 26, 2020 by Laura Agadoni modified forRapidHomeDeals.com
Owning a home teaches people a lot about homeownership, but it doesn’t necessarily make people real estate experts — although some people might (mistakenly) think they are. That is a very comfortable place to be until you need to sell your house fast. Often, these are good homes that are just not being marketed correctly. If a house appears to be overpriced compared with the competition, a “we buy houses” buyer or any buyer might want to sit back and wait for seller frustration — or desperation — to take hold.
1. Too-high price
If comparable recently sold homes fetched a price significantly lower than a seller is listing their home for, that high-priced home probably won’t sell for the inflated price. If it does, it might take awhile. Why would someone pay more when they can get a similar product for less elsewhere? Unless some buyer comes along who must have that particular home
2. Bad online presence
There’s usually lots of competition online for homes for sale. Photos taken by the homeowner, unless they happen to be a real estate photographer, probably won’t look appealing, particularly when viewed next to all the professionally photographed and videoed homes. If a home has bad photos or hardly any at all, buyers might not click on that listing.
The same goes if there is a poorly written or generic description. That reeks of neglect, laziness or inexperience, which sends a message the home might be neglected as well. Again you may not sell the house as quickly as you would like.
Regarding specifications, here’s a secret: Real estate agents sometimes enter the wrong specs on the listing. That mistake could make a house sit unsold until someone notices the error and fixes it. By that time, prime viewing and selling time has likely passed.
3. A terrible odor
A bad smell could signal several things, none of which would be appealing to buyers: animal odors, mold and mildew that emits a musty smell throughout the home, or the unmistakable reek of cigarette smoke.
If a buyer enters the home to inspect it and wrinkles their nose, wondering, “What’s that smell?” chances are they aren’t impressed. In fact, they’re probably having serious doubts about staying in the house much longer, let alone buying it. And if you notice this, you can bet other potential buyers have as well. You likely are not going to sell the house quickly to a retail buyer. “We buy houses” buyers just calculate the cost of odor removal in their offer.
4. Too much clutter
If a buyer sees a listing with photos that show clutter or you enter a home that’s cluttered be prepared for a long sales period. Unless it’s already priced below market value, the house will be harder to sell. Buyers often cannot look past clutter. Or if the clutter is bad enough, potential buyers can’t even conduct a proper inspection.
If the sellers can’t take the time to declutter, buyers wonder what else they haven’t done. Professional home buyers or “we buy houses” buyers can look past the clutter, wait and offer a low price.
5. Outdated appliances
Many buyers are looking at the high end of their price band, meaning they need a home that’s move-in ready because they don’t have the funds to do anything extra. While that is true of retail buyers it isn’t true of the “we buy houses” buyers. If the appliances are ready for a museum, potential buyers might pass.
This is because an investor, probably knows where to get the best investment property appliances. And if they’re buying this house as a rental property, the appliances you put in might be tax-deductible.
6. A dark home
Today’s buyers prefer lots of natural light. If the house has heavy draperies on windows, dark paint on the walls, and outdated, red-toned cherry cabinets, it might not sell quickly. But a “we buy houses” buyer can easily lighten and brighten such a home by opting for simple shutters or blinds and painting a nice clean Sherwin-Williams Shoji White, for example.
The bottom line
If any of the above ingredients have been used in this recipe, the owner might have cooked themselves an unsellable house. After having the house sit for too long, frustrated owners just might be ready to accept a lower price or get to work to make it more sellable.