If you are looking to sell in Forest Hills, you’ve probably already had the jitters over listing your home. You’ve heard the horror stories. So much can go wrong! It’s enough to make you scrap the whole idea of selling.
Before you do anything drastic, remember this: Just because one real estate transaction falls through, it doesn’t mean the next one will do the same!
What makes a sale go south? We don’t like to focus on the negative, but we believe that the best way to beat seller anxiety is to prepare for snags in the process. Here are four reasons why some sales don’t work out:
- The inspection reveals major issues with the home that weren’t disclosed to the buyer.
As the seller, the solution to this problem is simple: Disclose your home’s flaws to the buyer ahead of time. Price your home accordingly, and be willing to negotiate with the buyer to keep your sale on track.
- The buyer runs into financing issues. If you are looking to sell in Forest Hills, favor buyers who have been preapproved for a mortgage. Although the final mortgage approval could still fall through, that is less likely to happen with preapproved buyers.
- The home appraises for less than its list price. Lenders will only allow buyers to borrow up to the appraisal amount. If the home appraises for less than the list price, the buyer needs to come up with the difference. If you are set on selling quickly, you might need to lower the price tag to make it happen. You can also request a second appraisal to see if it produces more favorable results.
- The buyer gets cold feet.
If you are looking to sell in Forest Hills, there isn’t much you can do about this pitfall. Try to seek out confident buyers rather than wishy-washy ones, remembering that even the most confident buyers can get nervous when thousands of dollars are on the table.
We welcome clients who are looking to sell in Forest Hills! Contact us today to learn more about listing your home for success.
Call us at (718) 997-6000 or email us here for more information.