My Challenge in Selling a House

When it comes to buying and selling of houses, I like buying. There is energy and excitement in looking for a new place to call home. I have to manage budget with what the dream house should be for that amount. In a sellers market, it may take a while to get an offer accepted because 10 other people want the same house.However, your home sells pretty quick in a sellers market. Selling in a buyers market is a story in itself.

 The first thing on my mind as a seller is how can I make money on this home as opposed to paying difference between mortgage owed and selling price. This is tougher in a buyers market. In a buyers market, there is a large amount of home inventory available and not enough buyers available to buy them all. Therefore, they can be more picky in choosing their next home. In this market, you may have to lower your price to get a buyer. Initially, we sold the house at a little above break even.

I do not remember how many people saw the house in the first month. We put it up for sale about a week before we had to relocate to another city. I was in an in between position. I had a new job that I needed to excel at. I also needed to stay on top of the old house as it impacted us moving into a new house at our new location. That was a constant question from my new boss. "How close are you to selling your old house." We are not that close.

For most buyers or sellers, you sign a six month or  longer contract with your real estate agent. Hopefully, this helps keep them focused on selling your home. Our home went up for sale in June which was a good time for those moving into the area. There were so many homes available at the time that buyers could pick and choose. Not only could they pick and choose but they could find the home that was specific to their needs and price range. There was that much inventory available.

Thus, the challenge of selling our home. We continued to lower the price until it was a fit for the family purchasing it. With all of the competition, it finally sold. We were quite happy. The house was two years new in a cul-de-sac with  a huge yard. Our challenge was over. We did not win but we persevered.

Source : articlesbase.com