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Waiting for a house to sell?

Home » Financial & Retirement Planning » Waiting for a house to sell?

No!  That’s not for you!

Many currently stuck at the “Waiting Place” are there waiting for their home to sell.  If that’s you, here are a few tips.

Is it priced right?   Homes that are priced right on the front end sell faster and often for more than those who chase the market.  A good appraisal is key and I highly recommend using a Realtor®.  Realtors® provide excellent insight into the market starting with a comparative market analysis (CMA) that assists in setting a price supported by providing a side-by-side comparison of similar homes for sale and recently sold homes in your neighborhood.  CMAs illustrate the range of homes in the marketplace and the features that make them unique, including age, location, number of bedrooms, baths, room sizes, updates, condition, etc.  As a seller, you should be able to see where your home fits – in the top or lower price range of similar homes in your area.

An appraisal uses a variety of sources to establish a homes value and is performed by a professional appraiser.  Appraisals are always performed after an offer is made as part of the loan application process.  Banks use the appraisal to weigh their risk.  If an appraisal does not support the list price banks won’t approve the loan.  By ordering an appraisal on the front end and using it to establish the list price you are best insured when an offer is made it’ll hold up to the banks scrutiny.

Is it move-in ready?  As competitive as today’s market is, your house needs to be move-in ready.  Move-in ready often means making sure that which is broken gets fixed but sometimes may include updating as well.   Don’t worry about needing a house make over but expect to spend a little money repairing settlement cracks or possibly replacing carpet.  In all likelihood you have also lived in your house for a number of years and while the wall paper in the foyer might be your preference it could turn off today’s buyer.  Don’t be offended if a Realtor® recommends painting.  In fact, I encourage you to consider a fresh coat of paint in a neutral color every where.  Not only will the walls look appealing to most but the smell of fresh paint plays on the senses leaving a new, clean impression.

Finding a Realtor®, pricing a house and preparing it to go to market takes time and if you have not sold a house in a while, you might not know where to turn.  At Park Springs we offer the Vintage Home Plan which assists prospective Members in preparing for and selling their house as well as in making the move to our community.  Our plan may also allow you to defer payment of your entry fee and cover some carry costs until your house has sold.  Please visit our Atlanta retirement community website in order to learn more.

Perhaps with these tips, as Dr. Suess wrote, “Somehow you’ll escape all the waiting and staying.  You’ll find the bright places where Boom Bands are playing.  With banners flip-flapping, once more you’ll ride high!  [And at our premiere Atlanta retirement community], ready for anything under the sky.”

Comments

  1. Well both real estate arppaisals and tax arppaisals are based on the location of the home.Usually (again based on state and local tax laws) a tax appraisal is lower than a real estate appraisal. (Some locations they are the same) It usually is based on some type of approved formula and has modifiers based on property usage.Real estate arppaisals are usually market based, where an appraiser will identify homes in your area that are close in style and size to yours that have recently sold. They will use these to come up with an estimated market value for your home. They will take into consideration all the aspects of a home, where a tax appraisal is done more around sq footage and acreage.As for tax appraisal problems, well it doesnt affect market value of home, but it does effect your pocket book. property taxes are based off these arppaisals. You will have a small window to challenge a new tax appraisal. these arppaisals are not always fair and accurate. You can go to your local county/city clerks office to get information on tax appraisal process, percentage value of appraisal to market value, property tax rate and process to challenge tax appraisal if you feel it is not correct based on market value of home.Good luck

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Stone Mountain, GA 30087

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