Selling a home that is in perfect condition and is priced slightly below the market can take a little time these days. Under these optimal conditions the marketing skills and reputation of your Realtor can be the determining factors in getting your home sold.
A component of marketing is making your home appealing to the largest possible pool of buyers. That means taking what I have to work with, such as a fenced yard that would be perfect for kids and pets, and communicating those features and attributes clearly to a targeted audience.
If your home is currently leased, North Carolina real estate law says that must be disclosed and that the lease conveys with the property. When selling a home in today’s real estate market, this single fact can significantly reduce the pool of buyers who would have either the interest or the financial capacity to buy your home.
Things have changed in a big way for real estate investors. One of the largest changes is that private mortgage insurance (PMI) is no longer available for home purchases that are not primary residences or second homes. That means that any real estate investment purchase must have a 20% down payment.
There was a time when real estate investors could buy a home with as little as 5% down. Today, the cash required to buy an investment property is four times what it was only a short time ago. This has significantly reduced the number of real estate investors who are able to buy a home.
Selling a home can still be a successful experience. It just takes careful planning with a professional who knows the market and knows where buyers will come from. The marketing has to be targeted and focused. Time spent marketing to the wrong group can lead to dissapointing results and frustration. Advertising the tenant lease you have in place that can produce instant cash flow is not very apealing to someone who is in no position to obtain the necessary financing to buy your home.
