6 Listing Obstacles to Look Out For
Mark Spain Real Estate’s experienced team and proven process provides our clients with a successful closing. After 25 years of serving thousands of families, we know the red flags to watch out for that can hinder a real estate transaction. There are six listing obstacles to keep in mind when planning the sale of your home.
Thinking of selling your home? It’s important to work with an experienced real estate team that prioritizes your experience. Mark Spain Real Estate listings spend less time on the market and sell for a higher percentage of the list price than average. Contact us today and let us serve you!
Mold can be a deal-breaker for the average buyer, even if it’s their dream home. This is because its presence signifies that there are other underlying problems related to moisture such as leaking pipes in the walls or even leaks above the ceilings. Humans will encounter a natural exposure to mold every day, however, inhalation of a large number of spores at once can lead to health issues such as nasal congestion, watery eyes, skin rashes or even asthma attacks. The fear of mold will intimidate even the strongest homebuyer, especially if they have allergies or health issues. Mold is a hindrance to be taken seriously and it is important to deal with quickly and effectively if found.
To avoid this listing obstacle as a home seller or agent, start by identifying the cause and possible solutions to solve it. Simple solutions include scrubbing the affected area thoroughly with bleach, hydrogen peroxide or even distilled white vinegar. This can be applied to minor instances such as mold in your washing machine or on the bathroom tile. If the mold covers 10 or more square feet, it is recommended that you employ the service of a mold removal company to embark on a remediation process.
One obstacle many potential homebuyers are wary of is the issue of a clogged sewer or sewer backup. Repairing sewer lines can be an expensive undertaking that many homebuyers will not be willing to take on. Some causes of sewer problems include; tree roots growing into sewer lines, collapsing pipes, deterioration of sewer pipes, and wrongly placed pipes.
To avoid sewer issues from hindering a potential deal, it is recommended that you get the sewer lines scoped. An inspector runs a camera down the sewer line to reveal any sewer concerns during the scoping process. It will check for the presence of tree roots or other obstacles preventing free flow.
Lack of Seller’s Property Disclosure
Sellers are legally required to disclose known adverse material facts about their homes prior to selling it. This is important for not only building trust between the home seller and potential buyer but for both of their protection as well. An adverse material fact is defined as, but not limited to, a fact that affects the structural integrity of the home. Things a home seller should disclose include the following: a leaky roof or flooded basement, problems with major systems like heating, cooling or plumbing, and environmental hazards.
Disclosure processes vary from state to state. When preparing to sell your home, your agent will provide you with a Seller’s Property Disclosure to fill out. This can easily be presented to buyers as they browse for homes. It will also help them stay informed on the current condition of your home. Lack of a disclosure will create skepticism around the condition of a property. That will prove to be a big listing obstacle. Providing a property disclosure keeps the flow of information easy and encourages buyer agents to view your listing. If you are debating on whether or not to include something on your disclosure, a good rule of thumb to keep in mind is: if you are unsure, include it.
Unexpected Home Inspection Results
The average homebuyer investing in a real estate deal wants to get a complete understanding of what they are getting into and home inspections are an excellent way to get that information. Home inspections help a buyer understand the actual state of the property by answering important questions prior to closing on a new home. Such questions may include: are the electrical systems in working condition, does the HVAC need to be replaced, or if there are any plumbing problems. For a more in-depth list of important items, a home inspection will identify, check out our post here.
When a home inspection is completed, buyers and sellers are able to engage in negotiations during a period of time known as due diligence. This period of time can lead to obstacles in the transaction. This holds true especially when parties can’t reach an agreement. To avoid this a pre-sale home inspection is recommended to help find potential listing obstacles.
Above all, keep in mind your Mark Spain Real Estate agent will always have your best interests in mind when making recommendations or negotiating an offer.
Symptoms of Cold Feet
Sudden buyer cold feet is a listing obstacle that can halt a real estate transaction in its tracks. It is a common practice for homebuyers to walk away if the home isn’t right for their needs. There are even occasions where extraneous circumstances can stop a deal from moving forward. Symptoms of buyer cold feet can include:
- Unfamiliar with the area: If the potential buyers have fallen in love with the home but haven’t taken the time to research items like the neighborhood, schools and commute, then the deal may be a little short-lived.
- Multiple contingencies: A surplus of contingencies in the contract can indicate your potential buyer is a little paranoid and maybe not that serious about purchasing the home. A serious buyer will have almost no stipulations with their offer because fewer contingencies mean an easier transaction for all.
- Unrepresented: A buyer without an agent indicates a level of disorganization and a lack of serious intent. Make sure potential buyers are properly represented or licensed before entertaining any offers.
There are steps to take to reduce the likelihood of a buyer getting cold feet. A good option is to increase the amount of required earnest money. A higher earnest money deposit ensures that the buyer presenting the offer is a serious buyer.
Lack of Communication
In the real estate world, communication is key. It helps deals close faster and easier. This is one of the simplest listing obstacles to overcome. Homebuyers can sometimes be impatient and may have several concerns about the property that needs a prompt response. Being able to respond on time while communicating effectively not only boosts a potential buyer’s trust in you but brings you closer to the closing table.
Mark Spain Real Estate is an expert when it comes to communication. In fact, it’s one of our highest priorities! Our Client Acquisition Team answers inquiries within 26 seconds and is available 7 days a week. We are prompt to respond to a potential buyer’s question and keep the process moving. Additionally, our team coordinates all parties from the contract to close, focusing on consistently keeping all parties updated!
Mark Spain Real Estate strives to earn our clients’ trust and deliver an unparalleled client experience. Above all, our team is with you from start to finish to get our clients the results they want.
Are you ready to sell your home? Contact us today to find out more about how we’ve helped over 20,000 home sellers like you.