Tips for Boston condo sellers for the Fall season
Boston Condos for Sale and Apartments for Rent
Tips for Boston condo sellers for the Fall season
If there was one simple step that could help make your home sale a seamless process, wouldn’t you want to know about it?
There’s a lot that happens from the time your house goes under contract to closing day. And a few things still have to go right for the deal to go through. But here’s what a lot of sellers may not know.
There’s one part of the process where some homeowners are hitting a road bump that’s causing buyers to back out these days. But don’t worry. The majority of these snags are completely avoidable, especially when you understand what’s causing them and how to be proactive.
That’s where a great agent (and a little prep) can make all the difference.
What’s Causing Some Buyers To Back Out
The latest data from Redfin says 15% of pending home sales are falling through. And that’s not wildly higher than the 12% norm from 2017-2019. But it is an increase.
That means roughly 1 in 7 deals today don’t make it to the closing table. But, at the same time, 6 out of 7 do. So, the majority of sellers never face this problem – and odds are, you won’t either. But you can help make it even less likely if you know how to get ahead.
You might assume the main reason buyers are backing out today is financing. But that’s actually not the case. The most common deal breaker today, by far, is inspection and repair issues (see graph below):
Here’s why that’s a sticking point for buyers right now:
- Buyers are already stretched thin from high prices and challenging mortgage rates, so they don’t have the appetite (or budget) for unexpected repairs.
- If they’re going to spend all that money, they want to get something that’s move-in ready. They don’t want to take on another high-cost project themselves.
- They have more homes to choose from, so if yours seems like a hassle or if you’re not willing to fix something, they can just move on.
The sellers with the best agents have heard about this shift and they’re doing what they can to go in prepared. Enter the pre-listing inspection.
What’s a Pre-Listing Inspection?
It’s exactly what it sounds like. It’s a professional home inspection you schedule before your home hits the market. And while it’s not required, the National Association of Realtors (NAR) explains why it could be a valuable step for some sellers right now:
“To keep deals from unraveling . . . it allows a seller the opportunity to address any repairs before the For Sale sign even goes up. It also can help avoid surprises like a costly plumbing problem, a failing roof or an outdated electrical panel that could cause financially stretched buyers to bolt before closing.”
Think of it as a way to avoid future headaches. You’ll know what issues could pop up during the buyer’s inspection – and you’ll have time to fix them or decide what to disclose before you put your house on the market.
This way, when the buyer’s inspector walks in, you’re ready. No surprises. No last-minute panic. No deal on the line.
Is It Worth It?
Generally speaking, a pre-listing inspection costs just a few hundred dollars. So, it’s not a big expense. And the information it gives you is invaluable. But before you make that investment, talk to your local agent.
In some markets, it may not be worth it. And in others, it may be the best move you can make. It all depends on what’s happening where you are and what’s working for other local sellers. If your agent recommends getting one, they’ll also:
- Help you decide which issues to fix
- Prioritize repairs based on what buyers in your area are focusing on
- Connect you with trusted professionals to get the work done
- Ensure you understand local disclosure laws
That small step could save your deal (and your timeline).
Bottom Line
So, if there was one simple step that could help make your home sale go according to plan, would you do it?
If you’d rather deal with surprises on your terms (not with the clock ticking under contract), talk to an agent about whether a pre-listing inspection makes sense for your house.
It may be worth it so you can hit the market confident, prepared, and in control.
Tips for Boston condo sellers for the Fall season
Today’s Boston condo for sale market is different than it was just a few months ago. And if you’re thinking about selling your condominium, that may leave you wondering what you need to do differently as a result. The answer is simple. Taking the time upfront to prep your Boston condo for sale appropriately and create a solid plan can help bring in the greatest return on your investment.
Here are a few simple tips to make sure you maximize the sale of your house this fall.
What is one of the most important item to selling a Boston condo?
Price It Right. Is one of the first things Boston condo for sale buyers will notice is the price of your property. That’s because the price sends a message to home shoppers. Pricing your condominium too high to begin with could put you at a disadvantage by discouraging buyers from making an offer. On the flip side, pricing your condo too low may make buyers worry there’s some underlying issue or something wrong with the home.
Your goal in pricing your Beacon Hill home is to gain the attention of prospective buyers and get them to make an offer. And with price growth and Boston condominium for sale demand both moderating, as well as a greater supply of Boston condos available for sale, pricing your home appropriately for where the market is today has become more important than ever before.
But how do you know that perfect number?
Pricing your Boston condo for sale isn’t a guessing game. It takes skill and expertise. Work with a knowledgeable Boston real estate broker to determine the current market value for your home.
What’s the first step I can do to help sell my home?
The first step you as the owner can do is to keep it clean. It may sound simple but keeping your home clean is another key to making sure it gets the attention it deserves. As realtor.com says in the Home Selling Checklist:
“When selling your home, it’s important to keep everything tidy for buyers, and you never know when a buyer is going to want to schedule a last-minute tour.”
Before each buyer visits, assess your space and determine what needs your attention. Wash the dishes, make the beds, and put away any clutter. Doing these simple things can reduce potential distractions for Boston condo buyers.
For more tips, check out this checklist for preparing your home for sale. Ultimately an agent is your best resource for tailored advice, but this list can help get you started.
Help Buyers Feel at Home
Finally, it’s important for buyers to see all the possible ways they can make your Boston condo feel like home., and remove personal items like pictures, awards, and sentimental belongings. It’s also a good idea to remove any excess furniture to help the rooms feel bigger and make sure there’s ample space for touring buyers to stand and look at the layout.
If you’re unsure what should be packed away and what can stay, consult your trusted real estate advisor. Spending the time on this step can pay off in the long run. As a recent article from the National Association of Realtors (NAR) explains:
“Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market. The right arrangements can move you into a higher price-point and help buyers fall in love the moment they walk through the door.”
Boston Condos for Sale and the Bottom Line
Selling a Boston condo for sale requires prep work and expertise. If you’re looking to sell your condo this season, let’s connect so you have advice on how to get it ready to list, how to help it stand out in today’s shifting market, and more.
