How To Sell Your House Faster In This Market

Blog August 8, 2023 By Admin

Many New Yorkers are finding themselves getting stuck, and needing to sell their homes.


Some already moved out to places like Florida, and now find that they are trying to juggle two mortgages and property tax bills. Others are watching their equity being eaten up as the market changes, and desperately want to get out of their homes before they are underwater and can’t sell, or lose the property to foreclosure or through a tax lien auction.


If you are finding yourself in this position, or want to get out ahead of it, how can you sell your home faster?


Price Your Home Right


Real estate experts will tell you that all homes will sell, if they are listed at the right price. The more accurate your pricing out of the gate, the faster your property will sell.


Don’t bank on getting the same effect if you price too high first, and then try to correct it later. Your listing will be ignored. Or buyers will think you are desperate and will often even far less than what you are asking.


The headlines about the direction of the economy can be very confusing today. Though, in this market, the chances are very high that the ideal number is going to be lower than you think.


Offer Better Terms


With the exception of all cash buyers, terms can be even more influential in how fast your home sells, and for how much.


This may include asking for a much lower upfront earnest money deposit when going to contract, including more of the items that you have in your home (i.e. furnishings and appliances), and offering owner financing.


Incentivize Your Agents


If you do decide to hire a real estate broker to list your property, make sure you are motivating them to really focus on selling your home, and selling it fast.


This can include offering a higher commission, and bonuses for completing a sale by a specific date. As well as letting them know you will be watching, holding them accountable for doing the marketing that they promised, and retaining the ability to fire them if they are not getting results.


Energy Efficient Improvements


Energy costs are soaring, and just keep on going up.


This makes homes much more expensive. Meaning the same buyer now can only afford a much cheaper home in order to keep their monthly bills the same. Mortgage interest rates, and rising insurance premiums have compounding this even further.


If you need to replace any appliances, then installing energy efficient options can help make your home more attractive than the competitors.


Lower Your Property Tax Bills


The same applies to annual property tax bills. Out of two identical homes, the one with the lower property tax bill is the one that will sell. At least much faster.


Be wary of remodeling and adding cost, and taxes, without net benefit, or getting stuck in the construction and renovation process.


Instead, ask Property Tax Adjusters, Ltd. to help reduce your tax bill, and get your home sold faster.