Considering listing your home? You absolutely must be aware of these 6 facts when selling your house in Edmonton. And hear me now and believe me later, but not every real estate agent will tell you what we are about discuss. Sure most of them will, and try to do what is best for you, their client. But before you reach out to a real estate agent to sell your property, avoid any future regret, inform yourself, and become aware of everything that lay ahead in today’s traditional listing process.
Supper time? Hockey practice? While you may consider sitting together at the dinner table as quality family time…the dinner hour, or the weekend, is likely the prime time your potential buyers will want to be walking through with their agent. While no-one likes to have strangers walking through their private space and looking at all of their belongings, it is a real estate agent’s job to be certain that as many strangers as possible do just that! As a result, you’ll need to keep your house in show condition at all times. Its one of the most annoying aspects of listing your Edmonton home for sale. So be ready to expect the unexpected and plan your life around unscheduled showings or open houses. This is one detail about selling your house in Edmonton that an agent will not tell you.
Show me the money! (Remember Tom Cruise and Cuba Gooding Jr. in Jerry Maguire?) Because the process is based upon the completion of inspections and appraisals, not to mention other deadlines and hurdles that you’ll be jumping. And its those closings that can be and are delayed. It isn’t unusual for closings to take up to 45-60 days, depending on many factors, with a conventional financing in traditional real estate. This is another fact about selling your house in Edmonton that an agent will not tell you. We all hope our Edmonton property sells quickly…but many people find themselves getting impatient and asking for the final close and to see the money!
Days on the Market
Are we there yet? While your real estate agent may be able to quote the average days on the market for listings, and tell you that based on their market analysis and your list price that your Edmonton home SHOULD sell fast. Buuuuuuuut, the one thing they cannot tell you is just how many days it will take to actually sell your property. Without having a realistic picture of the possible length of your timeline, the plans you start to make may all be in vain. And depending on how you structured your house sale and then the follow on purchase, you may also find yourself responsible for two properties if you are forced to move before the sale is completed. It happens. This is another piece of information about selling your house in Edmonton that an agent will not be excited to share with you.
The deal is off? The bottom line is, your sale could fall through if a contingency isn’t met. Contingencies are provisions in the contract that must occur before the sales contract is fulfilled, and they are a part of most every traditional real estate buy and sell. Certainly both agents will try and stay on top of things, ensuring the buy/sell goes through. But sometimes conditions won’t be met regardless how badly one party may want them to occur. For instance, if your house doesn’t pass the inspection, or meet the purchase price in the bank sanctioned appraisal, the buyer (or their lender), may renegotiate or even walk away from the deal. This is a fact that can be devastating to learn the hard way. Think you will hear about this when getting the closing pitch to list your house with an agent in Edmonton?
So you were under the mistaken impression that everything was fine? Inspections are a necessary part of traditional listings. But regrettably, they can also bring to light very expensive secrets! Depending on the nature of the previously unknown issue discovered during the inspection of the property, the expenditures to repair or replace the problem could run into the thousands. Another tidbit about selling your house in Edmonton that an agent will not tell you, you’ll be responsible to complete any repairs required by the lender or a condition written in by any prospective buyer. Failure to complete the repairs, despite any lack of funds you may be facing, will void the contract unless you can re-negotiate an acceptable agreement with the would be buyer.
Slice Of The Pie
Hey, where’d all my money go? Commissions, legal fees, marketing, staging, storing belongings to decrease clutter, and closing costs. Its very likely your real estate agent will expect you to make some aesthetic improvements to your home to improve its curb appeal. This could include updates or renovations that could run into the thousands. In addition to the percentage real estate agents and their brokers will take-off of the top in commissions, you may be responsible to pay for the marketing and hiring the digital photographer, including a drone pilot, for your online presence (that all depends on what you negotiate with your agent).
And along with the previously mentioned costs, you’ll be paying for staging, with the aim of making your home appeal to the highest number of buyers, which has proven to help in a faster sale with a higher purchase price. This may require you to put excess belongings in storage until the home sells. Depending on many factors, you could also be responsible for expenses at the closing. All of this eats away at the profit you’re expecting.
Think about your bottom line when selling your Edmonton house. Be sure and carefully consider all these facts that your agent may or may not tell you about.
Intrusive, expensive, time-consuming, and offering no guarantees are accurate descriptions that an agent will likely not tell you when trying to sell your house in Edmonton. That is why we believe you should consider selling your home directly to a “We Buy Houses” company like Sunrise Home Buyers. We will save you money, time, and hassle in addition to providing you with a guaranteed sale and a very quick closing date…if you need it. You can also avoid ANY & ALL REPAIRS, as you can sell you home as-is, on the date of your choice AND at an agreed upon price. These are just a few of the many reasons why a direct sale to Sunrise Home Buyers may be a better option for you. We truly are looking for a win-win solution to assist you in selling your Edmonton property.