Marketing home for sale
Selling a home is an Art in itself. If you want to stay ahead of the game, here are the two things you need to strike out of your list right off the bat – working with a discount brokerage offering a cookie cutter plan and trying to sell your Mississauga home by yourself (FSBO). You may well ask if homes are selling like hot cakes in a seller’s market, then why not save money by employing either of the above two options?
Sometimes in a hot seller’s market buyers behave irrationally and submit offers that are way over the fair market price. While homes sell fast, many deals also fall because the buyer is not able to close.
Why do home deals fall through after acceptance? Banks provide a buyer with a pre-mortgage approval up to a certain $ value. However, the bank will only approve the final mortgage based on the assessed value of the home and not the sold value of the home (which could be $50,000 – $100,000 above the asking price). In this situation, buyers have to come up with the difference between the assessed value and the sold price. In most cases, buyers do not have that kind of cash or savings available, and have to let the home go (also losing the initial deposit to the seller in some cases).
As a home seller this may not bother you much in a seller’s market as you can surely find another buyer. However, this can be a big problem when the market suddenly changes from a hot seller’s market to a buyer’s market. It does cause a lot of inconvenience, cause major stress, loss of money and time. This can also highlight potential risks for you if you were going to buy another home after selling the current one.
Marketing home for sale – Progressive and Proactive is the way to go.
Potential buyers are constantly surfing the net to view new listings of homes for sale in Mississauga. A renter can be searching to buy his first condo in Mississauga, a family can be looking for a home in your neighborhood so that their children can attend one of the top schools in Mississauga. There could be someone looking to buy an older and larger property in expensive neighbourhoods like Lorne Park or Mineola to fully renovate or custom-rebuild for themselves, or to flip for a profit. Or there could be someone looking for a detached home with a finished basement and separate entrance for a rental potential.
You may have just the right home for them. But it is not marketed properly, it will not attract the right kind of committed buyers to your listings.