Selling your home is filled with emotions. Excitement, fear of the unknown, anxiety and nostalgia probably all creep into your mind at one point during the process. If you are looking to sell in Briarwood, buckle up for a crazy ride!
Some people think that there’s no way to prepare for the potential hiccups that could happen during a home sale. We disagree with this sentiment! When sellers approach us, we are up-front about the ways that a real estate transaction can go wrong. We are also up-front about how to avoid these wrong turns!
If you are looking to sell in Briarwood, take a seat. Here are three common reasons why real estate sales stop short of closing:
The buyer’s financing falls through.
To avoid getting burned by a buyer’s lack of financing, you can decide to only consider cash offers. This strategy will seriously limit your buyer pool, and you might end up taking a lower offer than you would like. Another approach is to focus on buyers who have been preapproved for a mortgage. They could still run into a financing fiasco later in the sale, but this is less likely to happen when dealing with a preapproved buyer.
The inspection doesn’t turn out as well as the buyer had anticipated.
If you are looking to sell in Briarwood, make sure you disclose any significant issues with your home early so that the inspection doesn’t uncover unpleasant surprises. Wear your negotiating hat and be willing to budge on your price if your home’s condition warrants it.
The home’s appraisal value is less than its list price.
If there is a gap between the appraisal value and the list price, the buyer will need to come up with the difference. If you don’t want your buyer to escape, you might need to lower your price. You could also request a second appraisal to see if it turns out differently.
If you are looking to sell in Briarwood, contact Briarwood Realty today for honest advice on reaching your real estate goals.
Contact us today at (718) 380-5000 or email us here.