Many home sellers are discouraged when their homes don’t sell in the first 30 days. Other homes will take even longer than that to sell. While it can ruin your plans, there are options for when your home does not sell.
Below, I will highlight some factors that could cause a delay in the sale of your home. I will also show you what to do if your house in Charlotte, NC, didn’t sell at all.
Why is my house sale delayed?
Several factors could delay your house sale, including:
1. Difficult location
2. High pricing
3. Bad timing
4. Foul odors
5. Poor or lack of maintenance
Let’s look into each one of these factors below.
Overall, Charlotte is a peaceful and delightful place to settle down. The location of your house in Charlotte, NC, however, can make it difficult for your home to sell.
Selling your Uptown Charlotte house, for example, can be challenging if you live near a noisy street.
This doesn’t mean your house is unsellable. You will simply need a different strategy to approach your house sale. I will discuss this in the next section of this article.
Pricing is one of the essential aspects of selling a home. Unfortunately, many inexperienced home sellers fail to do market research.
If you do not know the house prices in your area, consult a realtor. Most Realtors in Charlotte, NC, know the pricing for different units and neighborhoods.
You must figure out the right pricing before you list your home on the market.
Different seasons present different markets, even for real estate. It could be you are selling your home at the wrong time. For instance, during winter, most people are not looking to buy homes in Charlotte. Low prices or offers to rent might be the only ones you will attract. During Spring, it is more likely you will receive many offers. Those offers will also likely be a much more reasonable market price.
Once you decide to put your house for sale, your primary goal should be to make it desirable. Buyers will not be interested in a house with moldy smells, pet smells, or any other foul odors.
Poor or lack of maintenance
Before you can sell your home, you must repair broken things and leaking faucets. A bad first impression can turn away potential buyers. Take some time to do minor repairs around the house.
If you have taken care of all these things and are still struggling to sell your house in Charlotte, you still have a few options.
What to do if my house in Charlotte, NC, didn’t sell?
Selling your house in Charlotte, NC, should not be difficult to accomplish. But, the factors listed above, however, can affect the house sale process. It is discouraging, but you still have a few options.
Below is a list of 5 things you can do if your house in Charlotte, NC, did not sell:
1. Assess your pricing
2. Prepare your home for sale
3. Short sale
4. Lease your house
5. Seek a different opinion
Assess your pricing
Pricing is the first thing you should research when selling a house. There are so many houses for sale in Charlotte, NC, each with a specific price.
At some point, you might have to sell your house for a lower price. It will attract more buyers, and you can go for the highest offer.
If potential buyers feel you have overpriced your house, they won’t buy it. Research on the internet or consult a realtor to get an accurate estimate of your property’s market value.
Prepare your home for sale
As soon as you decide to list your home for sale, start preparing for staging and visits. Get rid of all personal items, like pictures on the wall and old furniture.
Make minor repairs to improve the exterior. Avoid spending a lot of money on customizations and renovations.
If your house didn’t sell, you can repaint and revamp it to look better. Speak to a real estate agent to know when it is the right time to stage your home for sale.
Lease your house
Whether you are moving out of town or looking to pay your mortgage, leasing your house is an ideal alternative to selling it.
If you are fortunate, you will find a tenant who can pay the mortgage rate. In other cases, you might have to add money to foot your mortgage bills.
Before you rent out your house, understand that you will still need to do repairs and other tasks. Being a landlord also comes with responsibilities.
Consider a short sale
It can be distressing when your house doesn’t sell if you need the finances. In some cases, people who are pressed for money may not receive a timely offer on their home, leading to foreclosure.
A short sale allows you to seek buyers and investors who can buy the house fast, though at a lesser amount. Unfortunately, this price can be lower than you owe the lender.
However, you must be eligible for a short sale. As well, not every bank will allow a short sale.
Speak to a real estate attorney in Charlotte to understand short sale procedures and whether this option is right for you.
Seek a different opinion
You may hire a real estate agent, and your house still won’t sell. This does not always mean that your agent is incompetent. Sometimes your agent may have a lack of proper experience to sell your house. Other realtors are too busy to commit to marketing your house properly.
Seek advice from a different and experienced real estate agent. It is okay if one real estate agent is not working for you. Ask your new agent to provide a strategy to market and sell your property.
You may be surprised when a different realtor closes the home sale in a week or less.
Many challenges can arise when your house does not sell. You can approach these challenges using the above-discussed tips. Set the right price for your house to encourage buyers. Consult a real estate agent who can direct you on the right time to sell your house in Charlotte, NC.