Listing Options For Today's Market
If you are wondering if now is the time to take advantage of the busy real estate market everyone's buzzing about, the answer is an overwhelming yes! According to recent reports, while national trends are showing inventory shortages are starting to subside, the Coastal Carolinas real estate market is still reeling from a lack of homes for sale across all property types.
With this in mind, does the thought of selling your house seem like too much work to get listed in time? You aren’t alone! What you might not know are the options available when it comes to listing your home.
TWO MOST POPULAR TYPES OF LISTINGS
1. "As Is" - What you see is what you get! Think of this more like a wholesale approach, you are listing with the expectation that you aren’t completing any repairs found in the inspection report.
PROS: List your home quickly with no renovations and set expectations upfront with your Realtor, skipping negotiations on items found in the inspection.
CON: You’ll trade time and remodel costs for a lower asking price.
2. “Parade Ready”- while this term varies, it’s a great way to explain how your home should present to achieve top dollar! This can include everything from paint touchups and removing personal items to full renovations, depending on how long it has been since your home was updated.
PRO: You’ll be able to list your home for sale at the top price.
CON: A great investment in time, money, and work to ensure your home is updated and pristine.
TOP FACTORS TO CONSIDER WHEN DETERMINING HOW TO LIST YOUR HOME
In the end, there are many factors your Realtor will consider when determining the best way to list your home. These include:
· Comparing the costs of repairs vs. the fair market value of your “as is” home
Check out this blog for more on determining which home repairs will increase the value of your home.
· Your personal time frame to move. Do you have time to wait for the perfect “as is” buyer, in our current market this shouldn’t be a problem, however as sales begin to slow down and inventory increases, this can cause your days on market to increase.
PRICE ISN’T EVERYTHING
Keep in mind that although the price is important, it’s not everything. Once you've listed your home and begin to receive multiple offers, how should you evaluate it? Your Realtor will assist you in organizing the offers so that you can consider all options that may also affect your timeline and revenue from the sale such as contingencies with appraisals, financing/cash, inspection, and closing dates.