Sarasota homes for sale (whether pre-foreclosure, short sale or not) throw red flags at prospective buyers with just two words!
Sarasota homes for sale want buyers to fall in love with dream home!
Because of (just) two words, some buyers will say no to the “perfect” home.
My #4 top reason your home will not sell may or may not be within your control. Nonetheless, this is more serious than you may realize.
Before you get upset or angry, understand the proactive position you can take to reassure prospective buyers and buyers’ agents your house is as-is okay.
4. “AS-IS” HOME SALE LISTING CAN BE A MAJOR TURN-OFF. Keep in mind, buyers are picky and want model-home condition. Today, two types of properties are listed for sale: short sales/REOs and “regular” properties not distressed.
Distressed Property 101
Short sales and REOs always sell in “as-is” condition. However, closely related to homes that don’t show well are properties not listed as short sales but still listed for sale in “as is” condition.
The term “as is” means the seller offers the property in its current condition and will not pay for any repairs.
Could you overlook the condition of this Sarasota home for sale?
Does a Sarasota home for sale in "AS-IS" condition turn you off?
If the property is selling short sale, forget hoping for a Seller’s Property Disclosure. If not a distressed sale (or in rare instances) , the seller will disclose in writing to buyers all known defects, such as a leaky roof or a bad foundation or anything else the seller knows to affect value of property (negatively).
Selling a property in ‘as-is’ condition should not immediately eliminate a property from consideration. However, myriad choices allow buyers to adopt “next” mentality.
“I don’t like ‘as-is.’ What’s next,” the savvy buyer asks today!
Better to be safe than sorry….
In reality, an interested buyer of an ‘as-is’ property simply needs to make the sale contingent upon satisfactory professional inspection. If the buyer doesn’t approve the written inspection report, the buyer should cancel the purchase and get his/her/their good faith deposit refunded.
Tip: Consider making your earnest money deposit contingent upon property owner and/or debt owner approval. That way, you don’t risk tying up your earnest money deposit (whether $5.00 or $1,000). You only deposit with escrow agent, usually title company, attorney or broker once the offer is accepted.
Of course, if your property needs any repairs that you can’t afford or don’t want to make, you have no choice but to list in “as is” condition, perhaps at a reduced price. However, I might have a CHEAP suggestion for you to allay any buyer concerns about your ‘as-is’ Sarasota homes for sale.
How important is condition of property to selling the property? Leave your comment below. What if you can’t afford to improve the condition of your Sarasota home for sale? What (else) can you do? Ask me for my #1 tip to grab a buyer’s interest if you must sell ‘as-is’.
Sarasota homes for sale turn in to sales with trust, communication & strategy. Sure, good marketing matters when informing the world of your property for sale. Together, we must turn red flags into attractive non-issues for buyers. If you have interest in buying or selling a property in or around Sarasota, call me now.
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