Selling Your Home 3 Times To The Same Buyer

Dated: 11/07/2017

Views: 228

Most people, when looking to sell their home do all the basics... They clean, they declutter, they may paint the bright green room. They will put the candles out, and make sure all the beds are made. However, once they get an offer in hand, they just let it all go.  This is the WORST thing you can do! The truth is, showing your home to a million strangers was just the beginning. You have to sell your home 3 times during this transaction.... and if one of those fails the test, you have to start all over!

1. The first sale is to the buyer. One of the many strangers poking through your home will walk in and say, "This is the one!"  That decision is likely made within the first 15 seconds they were in your home too. It's amazing to me that we make our most crucial investment decision based on a 15 minute peek. I spent months shopping for a car, and test drove it for a while before finally making a decision... it's nowhere near as valuable as my house, and it only depreciates.

2. Once your buyer is on the line, they will set up an inspection. This inspector's job and sole purpose in life is to tell the buyer all the reasons this is the stupidest decision they've ever made. The buyer is making their decision based on emotional feels.... This guy (or gal) is your little black cloud. He will point out all the things wrong with the home. So having it show ready... that's just the first issue. By the time you have it inspected, you need it inspect ready. What does that mean? It means, patching holes in the wall, caulking tubs and sinks, touch up paint, make sure all the lights work and outlets are to code. It means, make sure faucets aren't leaking and roof repairs are made. It means, sell the inspector on the idea that you've taken good care of the structure. 

3. Oz will visit your home at some time. This is the guy that no one is allowed to talk to or look at. He's the little guy behind the curtain that has the power to leave you with money in the bank or kill the deal! It's important to know what kind of financing is happening on your home with the appraisal. 

    Cash, means no appraisal is needed, but watch out for offers that put it back in, if you have reason to believe the price may be out of line. 

    Conventional financing is the easiest to deal with. All appraisers will certainly consider the comparable homes the same, but the conventional deal doesn't have any structural considerations. They look at the home, take a few pictures, measure the rooms and go.

    FHA Financing can be a little more difficult. They spend a little time focusing on structural issues, and will have issue with any stains on ceilings that imply water leaks. They will not allow funding on an older home with peeling paint. They are also required to randomly test light switches and appliances, so if you have a burner out on that stove, get it fixed.

    VA Financing mirrors FHA in a lot of ways. These deals will also require flooring to be installed (no freshly removed carpet) and stoves to be in and working. (all other appliances are luxury and will not matter) They will look at the roof and the paint, and they will make sure that the home is generally safe and to code. If you have bars on the windows, they will need to be removed. If the AC or water heater on the fritz, they will need to be replaced or fixed.  The important thing is that the VA wants to ensure that all their vets are in safe and sound homes. 

Once you're through the 3 sales, then you can go back to breathing normal and get to packing... you don't have much time now!

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Serena Jones

I'm an Arizona native who went from being a stay at home mom and partner in crime to my General Contractor husband, to real estate agent, in a flash. Over the last few years, my constant thirst to kno....

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